A year after his unfortunate death,the memory of Herbert wigwe, bank owner, entrepreneur, billionaire business mogul, philanthropist, corporate raider, and owner of a big and strategic university ,still lingers on with his unrivalled footprints on the sound of time .
In the ever changing corporate world , wigwe was a rare breed. Apart from his exemplary discipline, vision, leadership qualities and placidness, he also had a reputation as a competent professional and good team player in the banking industry.
Wigwe remained a towering force in Nigerian economic space , a mentor to generations, and a relentless advocate for hardwork , creativity and determination. His professional journey in the banking terrain was one of resilience, conviction, and selfless service to his people and country.
Throughout his professional life, this amiable banker closely associated with innovations and hard work that positively affected institutions and professional bodies he had interests in.
Today, his indelible legacy lives on, celebrated by those who remember his transformative impact on the banking industry and beyond; Born on August 15, 1966, in Ibadan, Oyo State, Nigeria, he, indeed,left an indelible mark on the African banking industry.
Wigwe was an exceptional man who succeeded in almost everything he aimed for. He earned all his medals, and rightly so. That was why he was not called a financial whizz-kid for nothing by everyone, including those who might not like his tactics and style. This African billionaire and uncommon entrepreneur made tremendous impact in the corporate world, banking, manufacturing, creating entrepreneurs, reviving and consolidated the gains of companies and above all, philanthropy.
No doubt, Herbert Wigwe , entrepreneur brilliant banker ,consummate manager and leader maintained his winning streak in the banking industry throughout his life time
This enviable achievement definitely is not a function of mere luck but a deliberate process that emanated from his strong and progressive vision. Wigwe naturally lived up to the dictum: ‘knowledge of a problem is key to its solution’ with his familiarity and competence on issues in the corporate world, his versatility, temperament and ability to tackle all professional challenges facing the mandates , particularly in Access Bank . He was indeed, a round peg in a round hole.
Academically, he has the right knowledge; professionally he was well armed with the right skills and contacts. He also possessed the right attitude for anyone destined for the top.
His relevant academic background was a major fulcrum that drove his supersonic performance. With deep knowledge of economic fundamentals and strategic choices, wigwe built a new and positive image for Access Bank and strategically repositioned it for a new height and new realities.
Wigwe’s early life was marked by a strong educational foundation. He graduated with a degree in Accounting from the University of Nigeria, Nsukka, and later earned master’s degrees in Banking and Finance, and Financial Economics from the University College of North Wales and the University of London, respectively
Wigwe’s professional journey began at Coopers & Lybrand Associates, Lagos, as a management consultant. He later joined Guaranty Trust Bank Limited, where he rose through the ranks to become Executive Director of Corporate and Investment Banking ². In 2002, Wigwe and his business partner, Aigboje Aig-Imoukhuede, acquired Access Bank, transforming it into one of Nigeria’s top five banking institutions ¹
Wigwe personal attributes highlighted above speak directly to the words of Wilson Churchill, former Prime Minister of the United Kingdom who once dropped a note of warning on the tragedy that awaits a man that fails to brace up for a life changing opportunity. According to the famous statesman, “to every man, there comes a time in his life when he is symbolically tapped on the shoulder and offered a chance to do a very special thing, unique to him and fitted to his talents alone. What a tragedy if that moment finds him unprepared or unqualified for the work which would be his finest hour”.
Wigwe effectively fitted into this scenario. 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 . He re-invented Access Bank with his skills and he nurtured the bank to a world class brand ; he also replicated the same feat at the other areas .
Quite expectedly, he kept the image and brand unique, untainted, dynamic and mobile. Indeed, he did creditably well, inspiring others with his deeply ingrained knowledge, skill, professionalism, attitude and depth. .
Access Bank, which was then a small commercial bank grew phenomenally . After 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.
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.
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.
Aside these, wigwe also stood out in other areas which included but not limited to his awesome personality, his ability to pay the price of discipline and to deal with the hard, pragmatic and brutal facts of image building and repositioning particularly at the critical time of economic crises and recession. Moreover, his strength of conviction and exemplary drive, sustained the discipline as well as the determination towards meaningful contribution to the ultimate goal of achieving and sustaining the organization’s vision.
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
Among his colleagues, wigwe was perceived as a man who combines high standards and strong values with consistent discipline and a high sense of empathy. His disposition also reflected in his carriage and relationship with other members of staff who encountered him on a daily basis.
A powerful and transformative executive that he was , he possessed appealing mixture of personal humility and professional outlook which engendered the building and retention of an enduring brand. He was ever busy, organizing people and resources towards effective and efficient pursuit of programmed outcomes. He vigorously pursues knowledge, identifying talents and skills, good work habits, a clear and compelling vision and stimulating his staff to high performance standards.
