The sudden death of the chief executive officer (CEO) of Access Holdings Plc, Herbert Wigwe, in a helicopter crash in the United States, has created a huge vacuum in the nation’s banking sector. Just as Nigerians and world leaders reacted to his death, the Nigerian stock market also reacted with shares of Access Holdings, which opened at N24.75 per share, reportedly losing 6.26 per cent to close at N23.20 per share. Wigwe died alongside his wife, Chizoba; first son, Chizi; former chairman of the Nigerian Exchange Group Plc, Abimbola Ogunbanjo; and two crew members in a helicopter crash near Nipton, California, US, on Friday, February 9, 2024. The deceased were on their way to attend the National Football League, Super Bowl LVIII championship, in Las Vegas.
Born in Isiokpo in Ikwere Local Government Area of Rivers State on August 15, 1966, Wigwe had a bachelor’s degree in accountancy from the University of Nigeria, Nsukka (UNN), in 1987. He had a master’s degree in banking and international finance from the University College of North Wales in 1991. In 1996, he earned another master’s degree in financial economics from the University of London. He was also an alumnus of the Harvard Business School’s Executive Management Programme. The UNN honoured him with an honorary doctorate in 2018.
Wigwe started his professional career at Coopers & Lybrand Associates, an international firm of chartered accountants. He became a chartered accountant in 1989 and later joined Guaranty Trust Bank Plc, where he spent over 10 years and rose to become an executive director. He was Access Bank’s deputy managing director between 2002 and 2014. He served as group managing director/CEO of Access Bank from January 2014 to May 2022. He was appointed a non-executive director of the bank from May 2022. He was also the chairman of Access Bank (UK) Ltd, Access Bank (Ghana), Access Investment & Securities Limited and a non-executive director of Nigerian Mortgage Refinance Company Plc, among others.
He nurtured Access Bank to being one of the best in Nigeria today. At the time he and his business partner, Aigboje Aig-Imoukhuede, spearheaded the merger with Diamond Bank in 2018, Diamond was on the verge of collapse, though it had 19 million customers at the time. He expanded Access beyond our shores, making it Nigeria’s largest bank by customer base with shareholders’ funds standing at over N240 billion. The bank has a network of over 600 branches and service outlets in about three continents, 12 countries and 36 million customers.
Being a man of ideas and big dreams, he started building a new university called Wigwe University, which he patterned to compete with such great universities as Harvard. He had already committed $500 million to the university, which was set to open in September 2024.
The Sun newspaper named Wigwe Banker of the Year in 2016. Former President Muhammadu Buhari conferred on him the national honour of Commander of the Order of the Federal Republic in October 2022. He was a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).
Prominent leaders and institutions have eulogised the deceased, extolling his value and worth in the society. Access Holdings, the parent of Access Bank, said, “Herbert’s visionary leadership and unwavering commitment to social impact initiatives have left an indelible mark on Access Holdings and the communities we serve. His legacy will never be forgotten.”
French President, Emmanuel Macron, said, “France has lost a friend,” as he acknowledged Wigwe’s role in strengthening the relations between France and Nigeria as president of the France-Nigeria Business Council.
Nigeria’s President Bola Tinubu expressed shock at the death of Wigwe and others, saying, “Their passing is an overwhelming tragedy that is shocking beyond comprehension.”
Rivers State Governor, Siminalayi Fubara, described the death of Wigwe as a monumental disaster. Abia State Governor, Alex Otti, wondered what would happen to those of them who had come to see the Access Holdings boss as part of life; and his dream university, which Wigwe told him was going to be the Harvard of Africa. “Who will carry on with that dream? We had exclusively talked about setting up a scholarship scheme to support brilliant but indigent students. Who will ensure that this dream is delivered?” Otti lamented.
Wigwe came from a family rooted in Christian values. His father, Engr. Shyngle Wigwe, a former director-general of the Nigeria Television Authority, is now a pastor in the Redeemed Christian Church of God. His mother, Stella, was a nurse. They celebrated their 60th wedding anniversary two years ago.
He was a philanthropist committed to the well-being of humanity. He established the Herbert Onyewumbu Wigwe (HOW) Foundation in 2016 to focus on youth empowerment, art, education and health initiatives, particularly malaria and prostate cancer.
Wigwe got married to Chizoba Wigwe, nee Nwuba, in 1994 and they both had four children.
We commiserate with his family, especially the remaining three children, and his friends and well-wishers. The best way to immortalise him is not to allow his unfinished business and worthy legacies, especially the Wigwe University, to die. May his soul and those of others who died with him find rest in the bosom of the Lord.