Access Corporation, Nigeria’s largest finance holding company has reported a profit of N612 billion after tax, with a 300% increase when compared with that of the preceding year.
This is the highest profit ever posted by the company, presided over by the late Herbert Wigwe.
In the financial statements, Access Corporation reported Gross Earnings of N2.6 trillion, up 80% from the N1.4 trillion a year earlier.
A significant portion of the profits came from fair value and foreign exchange gain of about N628.9 billion compared to N335.5 billion reported a year earlier.
The fair value and foreign exchange gains of about N628.9 billion were a significant part of the profits, compared with an amount of $335.5 billion reported in previous years.
Details later…
