- It is one year since the tragic demise of Herbert Wigwe, the former Group Chief Executive Officer of Access Holdings Plc
- People across all walks of life are still commemorating his death and reminiscing about his impact
- From co-rescuing a fledgling bank to building a world-class university, TheRadar takes a dig into the profile of Herbert Wigwe
Sunday, February 9, 2025, marked one year since the demise of Herbert Onyewumbu Wigwe, the former Group Chief Executive Officer (CEO) of Access Holdings Plc.
Wigwe died in a helicopter crash in California, United States of America, on Saturday, February 9, 2024, in the Mojave Desert near the California-Nevada border in the United States, alongside his wife, Doreen, their son, Chizi, and a former Chairman of the Nigeria Exchange Group (NGX), Abimbola Ogunbanjo,
The news of their deaths sent shockwaves across the banking and business world in Nigeria and beyond.
One year later, the impact of their deaths still cast a shadow, leaving family, business associates, colleagues, staff, governments, world leaders, and indeed everyone in disbelief over the enigma that was Wigwe.
As the world unites in commemorating one year since his death, TheRadar profiles the life and time of the 57-year-old who co-rescued a fledgling Access Bank in 2002 and turned it into one of Nigeria’s biggest lenders.
Profile of Herbert Onyewumbu Wigwe
Early life
Herbert Wigwe was born in Ibadan, Oyo State, on August 16, 1966, to Pastor Shingle Wigwe, who retired as the Director-General of the Nigerian Television Authority (NTA), and a mother, who was a nurse.
He had three sisters, Joyce, Peggy, and Stella, and one brother, Emeka.
A native of Omueke, Isiokpo in Ikwerre Local Government Area of Rivers State, Wigwe had his early education in Ibadan, moved to the Federal Government College (FGC) Sokoto, and later to FGC, Warri, Delta State, where he finished his secondary education in 1982.
Education
After his secondary education, Wigwe said he failed his first attempt at the Joint Admissions and Matriculation Board (JAMB) examination. Still, he tried it again and got admission to study accounting at the University of Nigeria Nsukka (UNN) in Enugu State, in 1983.
After graduating in 1987, Wigwe went for his National Youth Service Corps (NYSC) in 1988.
He won the British Council Scholarship to further his education and obtained a master’s degree in Banking and Finance from the University College of North Wales (now Bangor University) in 1989 and another master’s degree in Financial Economics from the University of London in 1990.
Wigwe also attended the Harvard Business School Executive Management Programme in 2006.
Career and professional journey
Wigwe began his professional career as a graduate assistant with Coopers & Lybrand Associates (now PricewaterhouseCoopers (PwC), an international firm of chartered accountants, and later qualified as a chartered accountant in 1989.
He then joined Capital Merchant Bank as a senior manager in charge of treasury and financial services.
In 1992, he moved to Guaranty Trust Bank (GTBank) where he spent over a decade working in various capacities such as corporate banking, institutional banking, and treasury.
Wigwe rose to become the Executive Director at GTBank in charge of institutional banking and helped develop GTBank’s public sector business at 32.
Rescuing a fledgling bank
Alongside his business partner, Aigboje Aig-Imoukhuede, Wigwe, at 36, acquired a stake in Access Bank Plc in 2002, a small commercial bank ranked 65th out of 89 banks in Nigeria.
Aig-Imoukhuede disclosed that the Central Bank of Nigeria (CBN) said both of them were too young to acquire Access Bank at 36 and delayed the approval of the takeover of Access Bank on that ground.
The duo worked long and hard on an ambitious transformation agenda that saw Access Bank grow from a regional bank with less than 10 branches to a formidable global lender with over 600 branches across Nigeria, Africa, and the UK.
Wigwe and Aig-Imoukhuede not only rescued Access Bank but also led several landmark transactions such as the acquisition of Intercontinental Bank in 2012, the merger with Diamond Bank in 2019, and the listing on the London Stock Exchange in 2019, which enhanced Access Bank’s international profile and access to capital.
In January 2014, Wigwe succeeded Aig-Imoukhuede as the Group Managing Director/CEO of Access Bank Plc and continued the legacy of steering the bank to greater heights.
In April 2022, he stepped down to become the CEO of Access Holdings Plc, a position he held until his death.
Access Holdings Plc is a new entity that was created to oversee the non-banking businesses of Access Bank such as insurance, asset management, payments, and digital banking.
Under his leadership, Access Holdings initiated mergers and acquisitions in several countries, including Zambia Uganda, Sierra Leone, and Cameroon, with subsidiaries in France and the UK.
Giving back to the society
In 2016, Wigwe founded the Herbert Onyewumbu Wigwe (HOW) Foundation, with headquarters in Lagos, to give back to society through scholarships, mentorship, and empowerment of young Nigerians.
Through the HOW Foundation, he built a world-class university, the Wigwe University, located in Isiokpo, Rivers State. It was accredited in June 2023 by the National Universities Commission (NUC) and offers courses in critical sectors like science, management, technology, arts, and engineering, among others.
With a $500 million investment, Wigwe, in an interview in November 2023, said Wigwe University is set out to transform the education landscape in Nigeria and West Africa through innovative and cutting-edge programmes.
He said, “We are setting a pace that will be unrivalled in Nigeria’s university system. The curriculum at Wigwe University is very unique. The curriculum at the university is such that it reflects the future of work.
“Although the present curriculum at Nigerian universities is good, more is needed to provide people with the relevant skills to thrive.
“I tell you, the refreshed curriculum at Wigwe University will compete with that of the best universities in the world. That would greatly influence Nigeria’s educational system and, indeed, Africa in the next decade.”
A passionate philanthropist, Wigwe co-led the formation of the CACOVID (Coalition Against COVID) during the COVID-19 pandemic, which saw the establishment of 39 isolation centres across the 36 states of Nigeria including the Federal Capital Territory (FCT), Abuja.
The coalition also provided food and other relief materials to 10 million families across Nigeria during the pandemic.
Awards and recognition
In recognition of his dedication and service to the country, Wigwe was awarded the national honour of the Commander of the Order of the Federal Republic (CFR) by former President Muhammadu Buhari in 2023.
He was a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Institute of Credit Administration, and an Honourary member of the Chartered Institute of Bankers of Nigeria.
In 2021, Wigwe was awarded the African Banker of the Year for the second consecutive year. He was also recognised as the Best Banking CEO from the Global Brands Magazine Award the same year.
Wigwe received the Juris Law Award from the Juris Law Office for his contributions to corporate governance and the rule of law in the Nigerian banking industry.
Final words?
On January 19, in what now appears to be his final words to the world and what seems like a premonition of his death, Wigwe wrote a cryptic post on life and its purpose on his official X handle.
Twenty-one days after his post, Wigwe met his tragic death.
He wrote, “Today and always, let us remember that life is a precious gift — a chance to breathe, feel, love, experience and connect. Let’s honor this gift by living with purpose, kindness, and gratitude, making every moment count. Let us number our days.”
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