Access Holdings, Wigwe University, Other Businesses Owned by Herbert Wigwe
- Companies owned by Herbert Wigwe have been identified following his demise alongside others in a helicopter crash
- These businesses include Access Holdings, Access Bank Plc, Wigwe University and two others where he owns significant amounts of shares
- He bought Access Bank in 2002 along with business partner Aigboje Aig-Imoukhuede, and they led the conversion of the bank into a holding company
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Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
On February 9, 2024, Herbert Wigwe, a well-known figure in the Nigerian banking space, tragically lost his life in a helicopter accident in the United States, together with his wife, son, and former president of the Nigeria Stock Exchange, Abimbola Ogunbanjo.
Source: Getty Images
The chairman of Access Holdings, Abubakar Jimoh, confirmed his passing and praised his record of expansion and operational success.
Wigwe was instrumental in directing the development of the financial industry in Nigeria.
Using calculated acquisitions and collaborations, he converted Access Bank Plc into Access Holdings, which is currently the biggest lender in Nigeria in terms of assets.
Wigwe started his career at Coopers & Lybrand Associates and managed various portfolios for over ten years at Guaranty Trust Bank Plc. He bought Access Bank in 2002 along with business partner Aigboje Aig-Imoukhuede.
Here are some of the businesses that are linked to Wigwe:
Access Holdings
With operations in 12 African countries, Access Holdings is a dominant force in the financial services industry in Nigeria and is actively extending its footprint in Africa and Europe.
As the parent firm of numerous subsidiaries engaged in banking, asset management, payments, insurance, pensions, and other financial services, Access Holdings embodies Wigwe's idea of a strong and diverse financial ecosystem.
Wigwe, the group managing director and CEO, owned a $54 million interest in the company, or 9.09%.
Access Bank Plc
The central banking division of Access Holdings, Access Bank Plc, is a well-known full-service commercial bank.
Access Bank, a massive network that spans three continents and eighteen countries and serves over 49 million people, is proof of Wigwe's strategic acumen.
Along with Aigboje Aig-Imoukhuede, Wigwe acquired Access Bank in 2002.
Since then, the two have masterminded revolutionary actions that have resulted in Access Bank becoming Nigeria's largest bank, most notably the historic acquisition of Diamond Bank in 2018.
Tengen Holdings
The Wigwe family's financial interests are represented by Tengen Holdings Limited, an investment holding company headquartered in Mauritius.
Tengen Holdings has been instrumental in recent years in helping Wigwe secure further shares in Access Holdings, bringing his total ownership to 9.09%.
This action demonstrated the family's dedication to long-term growth and represented a calculated investment in the financial environment.
HOW Foundation
The Herbert Onyewumbu Wigwe Foundation (HOW Foundation), established by Wigwe in 2016, is a nonprofit organisation dedicated to health projects, including raising awareness of prostate cancer and malaria and youth development and leadership.
The organisation supports educational initiatives like the yearly God's Children Great Talent competition; thus, its influence goes beyond health.
The charity showed its dedication to community welfare during the COVID-19 pandemic by providing food and relief supplies.
Wigwe University
The unveiling of Wigwe University in November 2023 marked the pinnacle of Wigwe's educational dedication.
With the promise of a game-changing $500 million investment, Wigwe set out to create an inventive, internationally competitive institution to solve Nigeria's skills gap.
With its impending opening, the institution is built to represent Wigwe's lifelong goal of influencing Nigeria's future via cutting-edge learning and the upbringing of the continent's future leaders.
How Herbert Wigwe's aide narrowly escaped
Legit.ng reported that Faleye Olushola, the special assistant to Wigwe, narrowly escaped death on Friday, February 9, in the helicopter crash that claimed the lives of his boss, wife and son.
Recall that Wigwe, 57, his wife, and his son were among the six passengers in a helicopter that crashed in the USA on Saturday, February 10.
However, Olushola, whose name was listed on the manifest, narrowly escaped death as he chose to travel by road.
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Source: Legit.ng
