• Monday, April 22, 2024
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Aig-Imoukhuede: Back in active service to the Access Group ecosystem

Access bank Profit under Aig Imokhuede

After 10 years of his exit as the chief executive officer (CEO) of Access Bank, Aigboje Aig-Imoukhuede was last week returned as the Non-Executive Chairman of Access Holdings Plc, the bank’s holding company.

No doubt, Aig-Imoukhuede has carved a niche for himself in leadership, entrepreneurship, and philanthropy. As one of Nigeria’s most prominent figures in business and finance, Aig-Imoukhuede has left a mark on various industries, inspiring countless individuals along the way.

His 217 pages book “Leaving the Tarmac: Buying a Bank in Africa” published in 2021 also speaks to his footprint.

Leaving the Tarmac: Buying a Bank in Africa is a memoir that recounts how Aig-Imoukhuede and Herbert Wigwe bought Access Bank in 2002, one of the smallest and most crisis- prone banks in Nigeria, and built it into one of the biggest and strongest bank in the country.

“As one of Nigeria’s most prominent figures in business and finance, Aig-Imoukhuede has left a mark on various industries, inspiring countless individuals along the way.”

In that book, Aigboje Aig-Imoukhuede recounts his journey, starting from the inception of his career in the banking sector to the acquisition of his own bank in partnership. Although acquiring a bank at the age of 36 might seem like a remarkable achievement, Aig-Imoukhuede makes it look like a smooth and straightforward endeavour.

A chart of Access bank's revenue under Aig Imokhuede
He also alludes to several renowned figures in the banking industry, offering valuable insights into the history of Nigerian banks. As one progressed in the reading of this book, Aig-Imoukhuede may have grappled with a touch of regret when he left his job to embark on his entrepreneurial journey, however, you’ll also recognise that his entrepreneurial spirit was too resolute to be repressed.

Although Aig-Imoukhuede may have appeared as a figure of exceptional prowess, he candidly acknowledged that his intense work ethic took a toll on his health, rendering him genuine and his narrative more relatable. He demonstrated exceptional transparency, even delving into how his demanding lifestyle affected his role as a father.

Last year, Lagos State and EnterpriseNGR, company chaired by Aig-Imoukhuede joined forces to woo global investors, as they were invited to join the prestigious Lord Mayor’s Show’s 805th procession in London. The collaboration between Lagos State and EnterpriseNGR was built on their shared goal of positioning Lagos as Africa’s premier financial centre.

Showcasing Lagos at the Grand Procession and related high-profile events at the Lord Mayor’s Show, UK, provided an excellent opportunity for EnterpriseNGR and Lagos State to gain the necessary positive global attention, engage with investors and demonstrate Lagos State’s commitment to becoming an international financial centre.

EnterpriseNGR stands as a catalyst for transformative change in Nigeria’s financial and professional services sector. Our vision extends beyond advocacy; it’s a commitment to incentivise investments that go beyond financial gains.

Aig-Imoukhuede emphasises on the significance of public-private partnerships in realising the organisation’s objectives of positioning Nigeria as Africa’s premier financial hub. EnterpriseNGR, a member-led, not-for-profit Professional Advocacy Group representing Nigeria’s Financial and Professional Services (FPS) Sector also aims to position Lagos state as a premier financial services centre in Africa.

“As we embark on this historic delegation to showcase Lagos on the global stage, we recognise the profound significance of attracting investments. Investment isn’t merely a transaction; it’s a catalyst for job creation, driving sustainable development and fostering a symbiotic relationship between investors, the state, and the communities at large,” Aig-Imoukhuede had said.

Aigboje Aig-Imoukhuede was born on November 2, 1966, in Ibadan, Nigeria. He obtained a Bachelor’s degree in Economics from the University of Benin and later attended Harvard Business School, where he earned an MBA.

Aig-Imoukhuede rose to prominence as the former CEO of Access Bank Plc, one of Nigeria’s leading financial institutions. Under his leadership, Access Bank underwent a remarkable transformation, becoming one of Africa’s largest banks.

During his tenure at Access Bank, Aig-Imoukhuede spearheaded numerous initiatives that propelled the bank to unprecedented heights. His strategic vision and innovative approach revolutionized the Nigerian banking landscape.

In response to the untimely passing of the immediate past Group Chief Executive Officer of Access Holdings, Herbert Wigwe and following extensive consultations with key stakeholders, the Holdco Board unanimously decided to invite Aig-Imoukhuede to the helm of governance.

Aig-Imoukhuede replaces Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Director. Aig-Imoukhuede, a visionary and accomplished leader brings an outstanding record of accomplishments, wealth of expertise and leadership to guide the Group into a new era of success, the HoldCo had said.

With an illustrious career spanning several decades in the banking and finance sector, Aig-Imoukhuede has proven to be an exceptional and influential leader, having admirably laid a solid foundation for Access Bank’s success as Group Chief Executive Officer between 2002 and 2013 ably supported by his partner and deputy, the late Herbert Wigwe who later succeeded him.

Aig-Imoukhuede is a co-founder of the Africa Initiative for Governance (AIG), a non-profit organization focused on promoting good governance and public sector excellence in Africa. Through AIG, he is dedicated to nurturing future leaders and driving sustainable development across the continent.

Aigboje Aig-Imoukhuede
Aigboje Aig-Imoukhuede

He is also the founder and chairman of Coronation Capital, an investment holding company with interests in various sectors, including healthcare, education, and technology, aimed to foster innovation and entrepreneurship in Africa.

Aig-Imoukhuede is deeply committed to philanthropy and social impact. He established the Aig-Imoukhuede Foundation, which focuses on education, healthcare, and youth empowerment initiatives. His philanthropic efforts have touched the lives of countless individuals across Nigeria.

Advocate for Education, Youth Empowerment: Aig-Imoukhuede is a staunch advocate for education and believes in its transformative power. Through his foundation, he has championed various educational initiatives aimed at improving access to quality education for underprivileged children in Nigeria.

Under Aig-Imoukhuede’s leadership, Access Bank experienced remarkable growth and established itself as a trusted financial institution within the community. The Bank transformed from a minor player into one of Nigeria’s top 5 banks with presence in 9 other African countries and the United Kingdom.

Under his stewardship, Access Bank grew its customer base from ten thousand to over six million with more than 5,000 employees and an asset base of $12 billion, achieving numerous milestones and becoming a globally recognized name. His strategic vision, innovative thinking, and deep market insight were instrumental to shaping the Bank’s success.

Following his retirement as the Bank’s CEO in December 2013, Aig-Imoukhuede cofounded the Tengen Family Office Limited which oversees a significant portfolio of investments and businesses in banking, finance, insurance, technology, real estate, and energy. Through the Aig-Imoukhuede Foundation, he is focused on building Nigeria’s next generation of government leaders, helping transform public sector effectiveness, and improving access to quality primary health care.

Access Holdings said the decision to bring back Aig-Imoukhuede as the Group’s Non-Executive Chairman reflects the Board’s commitment to our core values and determination to build upon the strong foundation, he jointly established with Dr. Wigwe.

With his return, Access Holdings aims to leverage his extensive experience, industry knowledge, and exceptional leadership skills to consolidate on the growth and accomplishments recorded under Wigwe’s leadership.

Aig-Imoukhuede has been a vocal advocate for youth empowerment and entrepreneurship. He believes in harnessing the talents and creativity of young people to drive economic growth and development.

He envisions a prosperous and sustainable future for Africa, driven by innovation, entrepreneurship, and good governance. Through his various endeavours, he continues to work tirelessly towards realizing this vision, inspiring hope and optimism across the continent.

His contributions to business and philanthropy have earned him widespread recognition and accolades. He has been honored with numerous awards, including the prestigious Ernst & Young Entrepreneur of the Year award.

Aig-Imoukhuede exemplifies visionary leadership, entrepreneurship, and philanthropy. His journey serves as an inspiration to aspiring leaders and entrepreneurs across Africa and beyond. As he continues to make a profound impact in various spheres, his legacy will undoubtedly endure for generations to come.

Aig-Imoukhuede began working as a lawyer with Continental Merchant Bank during his NYSC year in 1988. He joined Guaranty Trust Bank Plc in December 1991 where he resigned as executive director in March 2002. Aig-Imoukhuede was the leader of the 2002 acquisition of Access Bank, then a fringe regional player. He was the group managing director and chief executive officer of the bank till December 2013. He retired as president of the Nigerian Stock Exchange in 2017, but he remains on the National Council as an ex-officio. He was a non-executive director of Africa Finance Corporation since 2008 until June 2, 2017.

He has been the chairman of Associated Discount House Limited since December 1, 2011. He serves as a director of Petralon Energy and retired as the chairman of Wapic Insurance Plc where he has been its director since November 2011. Aig-Imoukhuede also served as board chairman and director of FMDQ OTC Plc until August 1, 2014. He founded Coronation Capital Limited in 2015 and has led the growth and expansion of the Coronation Ecosystem. In October 2021, Aigboje collaborated with the office of the Head of Nigerian Civil Service (OHCSF), led by Folashade Yemi-Esan to digitalize work processes and public service delivery.

Aig-Imoukhuede was conferred with Commander of the Order of the Niger (CON) in 2011 by then President Goodluck Jonathan of the Federal Republic of Nigeria, for his contributions to the development of banking and finance. He was also awarded the National Productivity Order of Merit Award in 2009.

In 2011 he was inaugurated into the Ernst and Young World Entrepreneurs Hall of Fame as the Ernst & Young West Africa Entrepreneur of the Year, as well as the African Banker Magazine’s “African Banker of the Year” in 2013. He is a member of the American Academy of Arts and Sciences and was appointed a member of the international advisory board of Oxford University’s Blavatnik School of Government. He is a fellow of the African Leadership Institute affiliated with the Aspen Institute in Colorado, USA.

He is also honorary fellow of the Chartered Institute of Bankers of Nigeria. In 2018, he was awarded the honorary Doctor of Science (D.Sc.) by the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria.

In his new role as Non-Executive Chairman, Aig-Imoukhuede will collaborate with the Board of Directors to oversee strategy and provide guidance to the executive management team. His return is not only a testament to his unwavering dedication to Access Group but also a clear demonstration of the Board’s confidence in his ability to lead the Group to new heights.

“I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders. I am determined that our shared vision which Dr. Wigwe gave everything for, will be realised,” Aig-Imoukhuede said on his appointment.

With his expertise, passion, and commitment, the Access Group is poised to embark on a new chapter of impact and sustainable success.