Wigwe University, Access Bank Plc… other 5 establishments owned by the late Herbert Wigwe
In a heartbreaking tragedy that took place on February 9, 2024, Nigeria’s esteemed banking figure, Herbert Wigwe, met a tragic end in a helicopter accident in the United States.
Accompanying him on the helicopter were his beloved wife, son, and the former president of the Nigeria Stock Exchange, Abimbola Ogunbanjo.
Wigwe played a pivotal role in shaping Nigeria’s financial sector, using strategic acquisitions and partnerships to transform Access Bank Plc into Access Holdings, which currently holds the distinction of being the largest lender in Nigeria in terms of assets.
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His journey began at Coopers & Lybrand Associates, where he honed his skills. Later, he spent over a decade managing various portfolios at Guaranty Trust Bank Plc.
In 2002, Wigwe and his business partner, Aigboje Aig-Imoukhuede, acquired Access Bank, the achievement that set the stage for their future achievements.
Here are some of the establishments that linked with late Wigwe
Access Holdings
With its extensive operations across 12 African countries, it emerged as a dominant force in Nigeria’s financial services industry. The conglomerate, which includes subsidiaries specialized in banking, asset management, payments, insurance, pensions, and other financial services, epitomizes Wigwe’s vision of a robust and diverse financial ecosystem.
As the group managing director and CEO, Wigwe held a significant 9.09 percent stake worth $54 million in Access Holdings.
Access Bank Plc
A vital subsidiary of Access Holdings, gained recognition as a renowned full-service commercial bank. With a vast network spanning three continents and serving over 49 million individuals in eighteen countries, Access Bank stands as a testament to Wigwe’s strategic acuity.
The historic acquisition of Diamond Bank in 2018 was one of the groundbreaking moves that propelled Access Bank into its position as Nigeria’s largest bank.
Tengen Holdings Limited
An investment holding company headquartered in Mauritius represents the financial interests of the Wigwe family. Tengen Holdings played a crucial role in helping Wigwe secure additional shares in Access Holdings, increasing his ownership to 9.09 percent.
This calculated investment displayed the family’s commitment to long-term growth within the financial landscape.
Herbert Onyewumbu Wigwe Foundation (HOW Foundation)
In 2016, Wigwe established the Herbert Onyewumbu Wigwe Foundation (HOW Foundation), a nonprofit organization dedicated to health projects. The foundation operates initiatives focused on raising awareness of prostate cancer and malaria, as well as fostering youth development and leadership.
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The organization’s influence extends beyond health, as it also supports educational endeavors like the annual God’s Children Great Talent competition. During the COVID-19 pandemic, the charity showcased its dedication to community welfare by providing food and relief supplies.
Wigwe University
November 2023 was the pinnacle of Wigwe’s commitment to education. With a groundbreaking investment of $500 million, Wigwe aimed to establish an innovative, globally competitive institution to address Nigeria’s skills gap.
Scheduled for imminent opening, Wigwe University embodies its lifelong mission to shape Nigeria’s future by fostering cutting-edge learning and nurturing the continent’s future leaders.
