Access Holdings, the parent company of Access Bank PLC, has disclosed a staggering ₦1.64 billion loss to fraud and forgery in the first half of 2025, sparking concerns over internal controls.
This figure represents a 253% surge from the ₦464 million recorded during the same period in 2024.
The losses stemmed from multiple channels, including: Forged Instruments [₦831.96 million], Fraudulent Transfers [₦617.11 million], Cash Theft [₦173.12 million], and Electronic Fraud [₦20.89 million]
The financial giant reported a pre-tax profit of ₦320.57 billion for H1 2025, an 8.12% decline from ₦348.92 billion recorded in H1 2024. Post-tax profit also plunged by 23.25% to ₦215.92 billion, down from ₦281.33 billion a year earlier.
Industry observers say the widening scale of fraud within Access Holdings raises serious concerns about its governance structure and the effectiveness of its compliance framework. Despite its aggressive expansion across Africa and Europe, the group appears to be losing control over financial security.
The ₦1.64 billion fraud loss adds to a growing list of controversies that have plagued one of Nigeria’s largest financial groups in recent years, undermining investor confidence and prompting questions about the bank’s oversight systems. Will Access Holdings be able to address these systemic failures and restore public trust?
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