The recent passing of Herbert Wigwe, a distinguished figure in Nigerian banking and co-founder of Access Holdings, has shed light on lesser-known aspects of the billionaire’s life, as disclosed by billionaires.africa.
Wigwe played a pivotal role in shaping Nigeria’s financial sector, orchestrating strategic acquisitions and partnerships that transformed Access Bank Plc into Access Holdings, now the country’s largest lender by assets.
Commencing his career at Coopers & Lybrand Associates, Wigwe spent over a decade at Guaranty Trust Bank Plc before acquiring Access Bank in 2002 with business partner Aigboje Aig-Imoukhuede.
Under Wigwe’s leadership, the bank ascended to become Nigeria’s fourth-largest in 2017, and the acquisition of Diamond Bank in December 2018 marked a transformative moment, leading to the birth of Access Holdings in March 2022.
Tragically, on February 9, 2024, Wigwe, along with his wife, son, and Abimbola Ogunbanjo, lost his life in a helicopter accident in the United States.
Abubakar Jimoh, Chairman of Access Holdings, affirmed Wigwe’s legacy of growth and operational excellence in a statement.
At the time of his passing, Wigwe held a 9.09-percent stake in Access Holdings, valued at $54 million.
Wigwe’s impact extended beyond the financial sector, focusing on building a globally connected community of ecosystems inspired by Africa for the world.
His philanthropic efforts included the establishment of the HOW Foundation, dedicated to youth empowerment, leadership, mentorship, and health.
Following his death, billionaire.africa has put together a list of the companies that he was linked to. Find them below:
Access Holdings
Access Holdings, a powerhouse in Nigeria’s financial services sector, boasts operations across 12 African nations, strategically expanding its presence in Africa and Europe. Functioning as the holding company for various subsidiaries, including banking, asset management, payments, pensions, and insurance, Access Holdings reflects Herbert Wigwe’s vision for a diversified and robust financial ecosystem. As the group managing director and CEO, Wigwe held a 9.09-percent stake valued at $54 million.
Access Bank Plc
Access Bank Plc, the flagship banking business under Access Holdings, stands as a leading full-service commercial bank. With a vast network spanning three continents, 18 countries, and serving over 49 million customers, Access Bank is a testament to Wigwe’s strategic prowess. In 2002, Wigwe, alongside Aigboje Aig-Imoukhuede, acquired Access Bank and orchestrated transformative moves, including the landmark acquisition of Diamond Bank in 2018, propelling Access Bank to its current status as Nigeria’s largest bank.
Tengen Holdings
Tengen Holdings Limited, a Mauritius-based investment holding company, represents the financial interests of the Wigwe family. In recent years, Tengen Holdings played a pivotal role in the acquisition of additional shares in Access Holdings, solidifying Wigwe’s position with a 9.09-percent stake. This move marked a strategic investment in the financial landscape, showcasing the family’s commitment to long-term growth.
HOW Foundation
Founded in 2016 by Wigwe, The Herbert Onyewumbu Wigwe Foundation (HOW Foundation) is a non-profit organization focused on youth empowerment, leadership, and health initiatives, particularly malaria and prostate cancer awareness. The foundation’s impact extends beyond health, as it sponsors educational programs, including the annual God’s Children Great Talent contest. During the COVID-19 pandemic, the foundation demonstrated its commitment to community welfare by distributing food and relief packages.
Wigwe University
Wigwe’s commitment to education reached its zenith with the visionary announcement of Wigwe University in November 2023. Pledging a transformative $500-million investment, Wigwe aimed to address Nigeria’s skills deficit by establishing an innovative and globally competitive institution. The university, set to launch soon, symbolizes Wigwe’s lifelong ambition to shape the future of Nigeria through cutting-edge education and the development of the next generation of African leaders.