Herbert Wigwe, former group CEO of Access Holdings Plc, tragically passed away in a helicopter crash on February 9, 2024, alongside his wife, son, and three others in California, United States. Today, his indelible legacy lives on, celebrated by those who remember his transformative impact on the banking industry and beyond.
A remarkable Nigerian banker and entrepreneur, Wigwe’s career was defined by his pivotal role in the acquisition and rapid growth of Access Bank. After more than a decade at Guaranty Trust Bank, Wigwe, alongside his business partner Aigboje Aig-Imoukhuede, took a bold step in 2002, acquiring Access Bank, which was then a small commercial bank. Serving as the deputy managing director until 2014, Wigwe ascended to the position of group managing director/ CEO, a role he held until his untimely passing.
Wigwe’s partnership with Aigboje Aig-Imoukhuede transformed Access Bank into one of Africa’s banking giants. When they took charge in 2002, Access Bank ranked 65th out of the 89 commercial banks in Nigeria. Fast forward to today, and it proudly sits among the top five financial institutions in the country—a testament to their visionary leadership.
But Wigwe’s influence extended far beyond Nigeria’s borders. As Chairman of the Body of Bank Chief Executive Officers (CEOs), he was instrumental in steering Access Bank’s expansion across the African continent. His vision for Access Bank was clear: to establish a presence in 22 African nations, along with strategic international locations, capitalising on growth opportunities in Africa. Under his stewardship, Access Bank spread its wings into Rwanda, South Africa, Mozambique, Kenya, Zambia, and several other key markets, playing a pivotal role in the continent’s financial landscape.
A landmark achievement in Access Bank’s history occurred in 2018 when the bank merged with Diamond Bank. This transformative move cemented Access Bank’s position as an industry leader. In 2019, Access Bank, under Wigwe’s leadership, issued Nigeria’s first green bond, reinforcing its commitment to sustainable finance and environmental responsibility.
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In 2022, Access Bank underwent a major restructuring, transforming into Access Holdings Plc., a move designed to leverage synergies across various sectors. This new structure allowed the group to broaden its product offerings beyond banking, delving into payments, insurance, consumer finance, and pensions. The vision was to create an integrated financial powerhouse capable of serving the diverse needs of customers across various industries.
Wigwe’s ambitious vision extended beyond the African continent. In 2023, Access Holdings expanded into the Northern Hemisphere with the launch of operations in Paris, signaling the group’s global aspirations. This was part of a larger strategic goal to become a pan-African force, driving economic growth across borders and fostering sustainable development through its subsidiaries in sectors ranging from technology and agriculture to healthcare and beyond.
Real estate was another area where Wigwe’s influence was strongly felt. Access Bank became a key player in the acquisition and development of landmark office buildings, many of which became architectural masterpieces. Throughout Nigeria and Africa, these buildings stand as iconic symbols of Access Bank’s growth and ambition.
Perhaps one of the most personal and ambitious of Wigwe’s ventures was the creation of Wigwe University. With a staggering $500 million investment, this institution aimed to revolutionise higher education in Nigeria and West Africa. Focused on fields such as management, science, engineering, and the arts, Wigwe University promised to offer world-class education, combining traditional teaching methods with innovative technology to produce the next generation of leaders.
Today, Access Holdings Plc. stands as a testament to Herbert Wigwe’s remarkable vision and unwavering dedication. As a leading multinational financial services group, Access Holdings operates across three continents, serving over 60 million customers with a diverse range of services from commercial banking to insurance and asset management. With more than 700 branches and service outlets in 22 markets, the group has become a true titan of the industry, employing over 28,000 people and contributing significantly to the economies in which it operates. Listed on the Nigerian Exchange Limited (formerly the Nigerian Stock Exchange), Access Holdings continues to carry forward the legacy of its visionary leader.
Herbert Wigwe’s impact on the banking sector, education, and African development is enduring, and his influence will be felt for generations to come.
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