Access Bank Plc., commonly known as Access Bank, is a commercial bank in Nigeria. The bank is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.


The bank’s headquarters is located in Lagos, Nigeria’s commercial capital. Access Bank has in excess of 300 bank branches in Nigeria’s major commercial centers.


Access Bank is a large financial services provider, with an asset base in excess of US$12.6 billion (NGN: 2.02 trillion), as of February 2012. The shareholders’ equity in the bank is valued at approximately US$2.33 billion (NGN:373.5 billion).


Starting in 2007, Access Bank began an International expansion drive. As of February 2012, it has subsidiaries in Burundi, Côte d’Ivoire, the Democratic Republic of the Congo, Ghana, Rwanda, Sierra Leone, The Gambia, Tanzania, United Kingdom, and Zambia.


The bank received its license from the Central Bank of Nigeria in 1989, and listed on the Nigerian Stock Exchange in 1998. Access Bank was taken over by a core of new management lead by Aigboje Aig-Imoukhuede and Herbert Wigwe in 2002. In 2005, Access Bank acquired Marina Bank and Capital Bank (the former Commercial Bank (Crédit Lyonnais Nigeria)) by merger. In 2007, Access Bank established a subsidiary in Banjul, The Gambia. This bank now has a head office and four branches, and the bank has pledged to open another four branches.


In 2008, Access Bank acquired 88% of the shares of Omnifinance Bank, which was established in 1996. It also acquired 90% of Banque Privée du Congo, which South African investors had established in 2002. Access Bank acquired 75% of the shares of Bancor SA, in Rwanda. Bancor had been established in 1995 and reorganized in 2001. In September Access Bank opened a subsidiary in Freetown, Sierra Leone, and then in October, the bank opened subsidiaries in Lusaka, Zambia and in London, United Kingdom.


In 2009, Finbank (Burundi) joined the Access Bank network. In 2011, Access Bank was in talks with the Central Bank of Nigeria to acquire Intercontinental Bank Plc.

Further to the approval of the shareholders of both banks, court sanction of the Federal High Court of Nigeria and approval of the Central Bank of Nigeria and the Securities & Exchange Commission, Access Bank Plc (“Access”) and Intercontinental Bank Plc (“Intercontinental Bank”) announce the completion of the recapitalization of Intercontinental Bank and the acquisition of 75% majority interest in Intercontinental Bank by Access Bank Plc. Effective today, Intercontinental Bank (including all its assets, liabilities and undertakings) becomes a subsidiary of Access Bank Plc.


The combined effect of the restoration of Net Asset Value (NAV) to zero by AMCON and N50billion capital injection by Access Bank Plc is that Intercontinental Bank now operates as a well capitalized bank, with shareholders funds of N50billion and Capital Adequacy Ratio (CAR) of 24%, well above the 10% regulatory threshold.


In January 2012, Access Bank announced the conclusion of its acquisition of the former Intercontinental Bank, creating an expanded Access Bank, one of the largest four commercial banks in Nigeria with over 5.7 million customers, 309 branches and over 1,600 Automated Teller Machines (ATMs).


Access Bank Group is made up of the following;


Access Bank Plc. is the flagship company of the financial conglomerate known as Access Bank Group. The member companies of the group include the following businesses:  The stock of the Group trades on the Nigerian Stock Exchange(NSE), under the symbol: ACCESS.

Access Bank Plc. – Nigeria

Omnifinance Bank – Côte d’Ivoire

Banque Privée du Congo – Democratic Republic of the Congo

Access Bank Rwanda – Rwanda

Access Bank Sierra Leone – Sierra Leone

Access Bank Gambia – The Gambia

Access Bank United Kingdom – United Kingdom

Access Bank Zambia – Zambia

Finbank Burundi – Burundi

Access Bank Ghana – Ghana

United Securities Limited – Nigeria

Access Homes & Mortgages Limited – Nigeria

Access Investment & Securities – Nigeria



7 Random Facts About Your Vagina


The vagina is one of the most discussed body parts in the world, it is also one of the most powerful. It is so powerful that native Indians believed that if you flash your vagina at a bear, it would run off. There is really no way to test that now is there. Anyways, here are 7 sure facts that you probably did not know about your vagina.


1)Douching is TERRIBLE for the vagina.

2)Taking antibiotics for too long without supplementing with multivitamins can cause vaginal infection

3)The clitoris & the penis start out as the same type of tissue then develop into different things eventually.

4) You can have 4 different types of orgasms because your vagina contains several sensitive spots and depending on how skilled and knowledgeable your sexual partner is.


5)The G-spot is named after the man who found it and alerted us all to it, Dr Ernest Grafenburg.

6)Constant intake of pineapple or pineapple juice does help the taste of your vagina, so drink up!!!


7)The female orgasm is a powerful painkiller, powerful enough to help cure headaches but not powerful enough to cure menstrual cramps.

Which of theses facts were you previously aware off? Which is too good to be true? and which will you be carrying out further research on?

NOTE: A douche is a device used to introduce a stream of water into the body for medical or hygienic reasons, or the stream of water itself. Douching can simply be referred to as ‘vaginal irrigation’


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Wale Tinubu, Group CEO Oando Plc.

Wale Tinubu is group chief executive officer of Oando. Oando is a Pan-African energy corporation with operations actively spanning all aspects of the energy value chain, including the marketing and distribution of refined petroleum products, exploration and production, refining, and power generation. It is the largest non-government owned Energy Company in Nigeria and has a market capitalization worth $1 billion. Is the first Nigerian company to achieve a dual listing on both the Nigerian and Johannesburg Stock Exchanges.

Tinubu has made himself Nigeria’s most venerable energy tycoon and inserted himself atop the pecking order in the major league of Nigeria’s oil industry. His vision shaped Oando and so did his relentlessness. The business started 19 years ago as a very small service company delivering fuels to the upstream service providers and it has grown to become the largest indigenous oil and gas group on the continent.

Wale Tinubu initially wanted to be a lawyer because at the age of 16 he left Nigeria to study law at the University of Liverpool in England. As an undergraduate, he used to travel to Europe to buy luxury cars, using his school fees as capital. He then drove the car through Europe and back to London, trying his best to sell it off for a profit en route. He often succeeded. He was only 21 at the time, but he had already started making substantial amounts of money.  He probably never realized it at the time, but it was the genesis of what was to be a successful career in deal making.

After his first degree, he earned a Master’s in Law from the London School of Economics at the age of 22. He had to attend law school in Nigeria before he was allowed to practice. After law school, he started out as a lawyer at his father’s firm. It wasn’t long before he realized that the legal route was not for him. He decided there and then to launch his own business. He wanted to be in charge and in control.

Tinubu set up his first office in his father’s garage. To stay afloat, Tinubu broke even by handling small corporate legal jobs right from his garage office.  He continued with his legal practice until the opportunity he had been waiting for came knocking. A friend, Jite Okoloko, who would later go on to become an executive director at Oando, had been offered a rather lucrative contract by Unipetrol, a government-owned refinery in Port-Harcourt to fill up fishing trawlers in Lagos. Okoloko was looking for a vessel to transport the diesel.

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Wale Tinubu during an inspection at Oando facilities.

Coincidentally, Omamofe Boyo, a close friend of Tinubu, who was also a lawyer, represented an oil services firm which owned a 1945 World War 2 tanker, The Carolina, Tinubu realized they could charter the ship to fulfill Unipetrol’s requirements. First, he had to calm the nerves of the ship’s crew down because they were angry for not being paid. He offered to charter the ship and promised to tend to their welfare needs. This made the crew excited and ready to work for him. He also got the money to charter the ship from his parents who offered him $10,000 to do so.

You would think Tinubu would have been making money since he was doing business with Unipetrol, a major oil company in the world, but he wasn’t being paid on time. He learnt that bigger companies had a tendency to drag their feet when it came to paying up. He didn’t have enough money to pay for the charter of his ship. As his debts increased the owners of the ship began to lose patience with him. He offered to buy the ship from its owners on credit and they agreed to sell it for $100,000 to Tinubu. Once again, he didn’t have the money but he was determined to buy the ship. In his bid to raise funds, he approached a small finance company for the loan.

With $100,000 he bought the ship. This was a defining moment in his life. And he had to pay back the loan at a high interest rate set at 10% a month. He set off to pay his debt which was not easy because the oil trading business at that time was even more strenuous than it is today. Despite the toughness of the oil trading business Tinubu’s small oil trading operations prospered. The ship proved to be a smart acquisition because it was profitable and it made its value every month. Before long he paid off the loan.

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Wale Tinubu gracing the cover of Forbes Magazine.

Tinubu’s company grew its fleet from one ship to two, three and then seven ships. Within a few years of operations, Ocean and Oil had become the undisputed leader in the supply and trading of fuels products. The biggest opportunity came in the year 2000 when the Nigerian government sought to divest its shareholding in Unipetrol, a leading petroleum marketing company. The government had decided it was going to divest its shareholding by selling 10% to the public and 30% to a strategic private investor. The government called for bids from prospective investors. Tinubu and his two friends, Mofe Boyo and Jite Okoloko, decided to bid.

The price for the 30% stake was put at $16 million. Even though Tinubu was making profits from his oil trading business, he did not have that money. But he wasn’t deterred at all. The three friends put in their bid for the stake and held their breath.  Tinubu and his friends were not up to 35 at that time yet they were seeking to gain control of one of Nigeria’s largest petroleum companies. The odds were against them. He had no political connections and yet he and his team won they bid.

But analysts and critics believed that Wale Tinubu and his new team lacked the experience and wherewithal to effectively manage a corporation as huge as Unipetrol. It caused uproar in several quarters and the Bureau of Public Enterprises (B.P.E) was under immense pressure to relinquish the sale. Because the BPE would not reverse its decision for legal reasons, it set new rules b giving Tinubu and his team only two weeks to raise money of which they would lose the Unipetrol deal.

He overcame this problem by obtaining a $10 million loan from a local bank and selling equity in Unipetrol to a venture capital company for $5 million. He also had $1 million in cash. Once again, Tinubu had beaten the odds set against him.

Employees at Unipetrol were less than impressed with the successful acquisition by Tinubu and his team. They could not stand the idea of the company being led by three young executives under the age of 35 and refused to work under this new leadership. This was a frustrating time for Tinubu. He realized that he could never win without the support of the team but he also knew that he couldn’t address the whole team at the same time. He identified the union leaders and major movers of the union and separated them from the crowd and held talks.

He succeeded in convincing the union leaders by making the following promises and appealing to their self interest, that there would be no layoffs, employees due for promotion would be promoted and a better welfare package for everyone. The uproar died down and the employees were ready to work again.

In 2002, Unipetrol (under Wale Tinubu) acquired 60% equity in Agip Nigeria Plc from Agip Petroli International. Unipetrol later merged with Agip in 2003 and the new merged company was rebranded Oando Plc. With the merger, Oando emerged as the largest downstream company in Nigeria. It now has retail outlets in Benin, Ghana, Sierra Leone and Togo.