Herbert Wigwe Biography
Herbert Onyewumbu Wigwe was a Nigerian banker, entrepreneur and a philanthropist who passed away on February 10, 2024 at the age of 57.
He was the CEO of Access Holdings Plc, traded as Access Corporation, and the former Group Managing Director/CEO of Access Bank plc, one of Nigeria’s top five banking institutions.
He was also a philanthropist and a visionary leader who transformed Access Bank from a small commercial bank to a global financial institution.
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Wiki Data – Profile of Herbert Wigwe Biography
- Name: Herbert Onyewumbu Wigwe
- Birth date: 15 August 1966
- Birthplace: Isiokpo, Rivers State,
- Occupation: CEO of Access Bank
- Religion: Christianity
- Spouse: Doreen Chizoba Wigwe
- Children: 4 children
- Awards: 2016 Banker of The Year
- Death: 9 February 2024
- Net Worth: $65.2 million
Herbert Wigwe Early Life and Education
Herbert Wigwe was born on August 15, 1966 to parents of Ikwerre descent from Omueke Isiokpo in Rivers State. He had three sisters (Joyce, Peggy and Stella) and one brother (Emeka).
He attended St. Gregory’s College in Lagos for his secondary education and then proceeded to the University of Nigeria, Nsukka where he obtained a degree in accountancy in 1987.
He furthered his education by obtaining a master’s degree in Banking and Finance from the University College of North Wales (now Bangor University) in 1989 and another master’s degree in Financial Economics from the University of London in 1990. He also attended the Harvard Business School Executive Management Program in 2006.
He was a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of The Institute of Credit Administration, an Honorary member of the Chartered Institute of Bankers of Nigeria and a Commander of the Order of the Niger (CON).
Herbert Wigwe Career and Achievements
Herbert Wigwe started his professional career with Coopers & Lybrand Associates, an international firm of chartered accountants, where he worked as a management consultant and later qualified as a chartered accountant. He then joined Capital Bank as a senior manager in charge of treasury and financial services.
In 1992, he moved to Guaranty Trust Bank (GTBank) where he spent over 10 years working in various capacities such as corporate banking, institutional banking and treasury. He rose to become the executive director in charge of institutional banking and was instrumental in developing GTBank’s public sector business.
In 2002, he left GTBank along with his business partner and friend, Aigboje Aig-Imoukhuede, to acquire a stake in Access Bank plc, which was then a small commercial bank ranked 65th out of 89 banks in Nigeria.
They embarked on an ambitious transformation agenda that saw Access Bank grow from a regional bank with less than 10 branches to a global bank with over 600 branches across Nigeria, Africa and the UK.
Under their leadership, Access Bank became one of the most profitable banks in Nigeria and Africa, with a strong focus on innovation, customer service, corporate governance and social responsibility.
They also led several landmark transactions such as the acquisition of Intercontinental Bank in 2012, which made Access Bank the fourth largest bank in Nigeria; the merger with Diamond Bank in 2019, which created the largest retail bank in Africa; and the listing on the London Stock Exchange in 2019, which enhanced Access Bank’s international profile and access to capital.
Herbert Wigwe succeeded Aigboje Aig-Imoukhuede as the Group Managing Director/CEO of Access Bank plc in January 2014 and continued to steer the bank to greater heights until April 2022 when he stepped down to become the CEO of Access Holdings Plc, a new entity that was created to oversee the non-banking businesses of Access Bank such as insurance, asset management, payments and digital banking.
He remained a non-executive director of Access Bank plc until his death. He also served as the chairman or board member of several other companies and organizations such as Access Bank (UK) Ltd, Access Investment & Securities Ltd, Central Securities Clearing System (CSCS), Nigerian Mortgage Refinance Company (NMRC), FMDQ OTC Securities Exchange, Shared Agents Network Expansion Facilities Ltd (SANEF), Agri-Business/ SME Enterprises Investment Scheme (AGSMEIS) and Friends Africa.
He was widely recognized as one of the most influential bankers and business leaders in Nigeria and Africa. He received numerous awards and honors such as African Banker of the Year (2016), BusinessDay CEO of the Year (2017), Forbes Best of Africa Award (2020), African Leadership Magazine African Business Leader Award (2020) and Leadership Newspaper Business Person of the Year (2020).
He was also passionate about giving back to society and supporting various causes such as education, health, entrepreneurship, women empowerment and environmental sustainability.
He founded the Herbert Wigwe Foundation in 2018 to provide scholarships, mentorship and empowerment to young Nigerians. He also supported the How Foundation, which provides free malaria treatment and prevention to children and pregnant women; the Slum2School initiative, which provides quality education to children in slums; the W Initiative, which provides financial and non-financial services to women; and the Access Bank Art X Prize, which promotes emerging artists in Nigeria.
Biography of Herbert Wigwe Family and Personal Life
Herbert Wigwe was married to Chizoba Wigwe (Nee Nwuba), a lawyer and entrepreneur. They had four children: Chizi, Tochi, Hannah and David. He was a devoted husband and father who cherished his family and spent quality time with them.
He was also a man of faith who believed in God and lived by Christian values. He was a member of the Redeemed Christian Church of God (RCCG) where he served as a pastor and a mentor to many.
He was an avid reader who enjoyed books on history, biographies, leadership and spirituality. He was also a sports enthusiast who loved football, golf and tennis. He was a fan of Arsenal FC and supported the Nigerian national team.
He had an active social media presence where he shared his insights, opinions and experiences with his followers. He had over 300,000 followers on Instagram (@herbertwigwe) where he posted pictures and videos of his work, family, travels and hobbies.
Herbert Wigwe Age
Herbert Wigwe is 57 years old. He died on 15 August 1966.
Herbert Wigwe Wife
Herbert Wigwe wife’s name is Doreen Chizoba Wigwe.
Wigwe University: A Dream Come True
One of the most remarkable achievements of Wigwe was the creation of Wigwe University, a groundbreaking institution of higher learning in Nigeria and West Africa. With a $500 million investment, the university set out to transform the landscape of education in the region, offering cutting-edge programs in management, science, engineering, and the arts.
The university, located in Isiokpo, Port Harcourt, received its accreditation from the National Universities Commission in June 2023. Its courses were tailored to meet the needs of vital sectors such as finance and technology, while also fostering leadership and entrepreneurial abilities.
Wigwe had a clear vision: to build an institution that could stand among the best in the world, yet retain its African identity. He aimed to attract top educators from across the globe, emphasizing the role of education as a catalyst for producing bold, creative leaders.
Herbert Wigwe Cause of Death and Legacy
There are some unverified information from the US that Herbert Wigwe, the chief executive officer of Access Holdings Plc, may have been involved in a fatal helicopter accident near the border of California and Nevada.
The sources claim that the helicopter went down on Friday night, 10th February 2024 near a city that lies between the two states, and that five other passengers, including his wife and son also lost their lives in the crash. The helicopter was reportedly heading to Las Vegas.
We are still trying to confirm the authenticity of this information and will update you as soon as we have more details.
Herbert Wigwe Surviving Children
The surviving children of Late Access Bank CEO, Herbert Wigwe are Hanna Wigwe (Daughter). David Wigwe (Son), Tochi Wigwe (Daughter).
Access Bank
In 2002, Herbert and his close friend, Aigboje Aig-Imoukhuede were presented with a business deal of acquiring a small-scale commercial bank – Access Bank.
Access Bank at the time was ranked as the 65th largest bank out of the 89 banks in Nigeria. Notwithstanding, Herbert and his friend Aigboje were ready to risk their blossoming career to revive the bank.
They transformed the bank into one of the most successful commercial banks in the world and one of the top five banks in Nigeria. In 2015, The Banker’s magazine named Access Bank as one of the top 500 banks in the world. Access Bank aims to be the best in Africa.
Access Bank currently serves over 6.5 million account-holders, through 350 branches, with more than 1,500 ATMs in major centres across Nigeria, Sub-Saharan Africa, and the UK.
Herbert Wigwe has helped to develop some of Africa’s biggest companies in the construction, telecommunications, energy, oil and gas sectors through Access Bank. He developed a unique model that involves the understanding and provision of financial support and expertise to growing companies. Herbert has been working in the financial sector for over 25 years.
Boards Wigwe has served
- Chairman of Access Bank Ghana Limited.
- Access Investment & Securities Limited.
- Central Securities and Clearing System (CSCS).
- Current Chairman of Access Bank (UK) Limited.
- Interim Chairman of the Nigerian Mortgage Refinance Company.
- Fellow of the Institute of Chartered Accountants of Nigeria (ICAN – FCA).
- Fellow of the Institute of Credit Administration.
- Honorary Member of the Chartered Institute of Bankers of Nigeria
Committees Where He Serve
- Board Governance and Nomination Committee – Member
- Member of the Board for Credit and Finance Committee
- Board Risk Management Committee – Member
The Access Conference
Herbert’s commitment to social advancement birthed the ‘Thought-Leadership Series’ known as The Access Conference in 2013. The biennial event is Access Bank’s way of responding to the global call for corporate involvement in tackling the major challenges of humanity.
The Access Conference has continuously engaged global leaders with provoking debates on issues of threats and opportunities to the world.
Herbert Wigwe as a Philanthropist
The HOW Foundation
The HOW Foundation is a Non-Profit Organisation established by Dr Wigwe to change and shape lives. The foundation has three areas of focus: health, education and empowerment.
Herbert continuously designs programs and activities that ensure positive and measurable impacts are made in the foundation’s areas of focus.
The W-Initiative
Herbert Wigwe established the W-Initiative under Access Bank. The initiative is a scheme that supports and encourage more women to venture into business. Through the W-Initiative, women can connect, share ideas, receive loans, and training that aid their business growth.
Maternal Health Scheme
The W-Initiative also supports a Maternal Health Scheme that provides support to women with fertility issues. The Scheme supports women through – In Vitro fertilization (IVF), Intrauterine Insemination (IUI), Endometriosis, Hysterectomy, and many others.
The NollyFund
The NollyFund is a brainchild of Access Bank and the Bank of Industry (BOI). It is a loan scheme to help Nollywood stakeholders with the production and distribution of films.
NollyFund has an initial program limit of N1 billion and a single limit of N50 million for individual loans. Some beneficiaries of the fund include the veteran filmmaker, Kunle Afolayan; who got a loan for his movie, the CEO.
Access Bank/UNICEF Charity Shield Polo Tournament
Through Access Bank, Wigwe collaborated with UNICEF to support vulnerable children, orphans and displaced persons in the northern part of Nigeria. They organise a polo tournament once every year to raise awareness for this purpose.
Nigerian Business Coalition Against AIDS (NiBUCCA)
Nigerian Business Coalition against AIDS is a private sector initiative that help eradicate HIV/AIDS in Nigeria, and also support people living with the condition. Herbert was made the co-chair of NiBUCCA in February 2017.
Herbert Wigwe Quotes
“Be empathetic, considerate, kind, and respectful. People may forget what you gave to them but they won’t lose the memory of how you made them feel.”
“The world is changing and Nigeria is beginning to pay attention to young creative people. No matter the outcome, I urge you to keep telling your stories. Don’t be scared to make your mark in the creative space. The future is beautiful.”
“If you want to fly, you have to give up the negativity that weighs you down. Give wings to the greatness within you. Soar!”
“Increasingly, you’ll find that any task that is repetitive will be replaced by technology. We must, therefore, retrain and reskill our people and ourselves to fit into the new world.”
“Success is a meaningless word without failure. I have failed many times, but in every wrong turn, every misstep, there are important lessons. Embrace them.”
“When I look at the faces of children, I see endless possibilities. All they need is a little help, a little hope, a little love, and someone who believes in them. God bless the child.”
“If you think the grass is greener on the other side, remember one thing: The grass is greener where you water it.”
Business Lessons From Herbert Wigwe
Don’t ever let one failure deter you from achieving your dreams, if you fail, try again and keep trying till you get it right.
Understand that taking risk is part of life, and in risk-taking, you either win or you lose. But then, stay optimistic and believe it would work out for good.
Awards And Recognitions Of Herbert Wigwe And Access Bank
- The Boys’ Brigade (BB) inaugurated Herbert Wigwe, as State Patron for Lagos State Council – 2016.
- Bank of the Year at the BusinessDay Banking Awards in Lagos – 2016.
- CEO of the Year at the BusinessDay Banking Awards in Lagos – 2016.
- Karlsruhe Outstanding Business Sustainability Achievement Award at the annual Africa Banking Awards – 2016.
- Banker of The Year by The Sun – 2016.
- Vanguard newspapers named Herbert Wigwe the Banker of the Year – 2016.
- Karlsruhe Outstanding Business Sustainability Achievement Award at the annual Africa Banking Awards – 2017.
- Named Most Reputable Bank CEO by the reputation poll – 2017.
- Business Leader of the Year by the reputation poll – 2017.
- Euromoney Award for Best Private Bank for commercial banking capabilities in Nigeria – 2018.
- Honorary Degree for good works towards humanity by Gombe State University – 2018.
- Honorary Doctorate from the University of Nigeria, Nsukka – 2018.
- Outstanding Individual Award for the HIV/AIDS response in Lagos State by the Lagos State Aids Control Agency (LSACA) – 2019.
- Karlsruhe Outstanding Business Sustainability Achievement Award at the annual Africa Banking Awards – 2019.
Herbert Wigwe Net Worth
As the CEO of Africa’s leading commercial bank and a member of several boards, Herbert has a high net worth. Though his net worth has not been stated officially, Legit.ng says Herbert Wigwe earns 85.2 million Naira annually.
Here are 11 things to know about Herbert Wigwe:
1. Herbert Wigwe died at the age of 58. He was born on August 15, 1966.
2. He had a degree in Accountancy from the University of Nigeria, Nsukka, Enugu State.
3. He also had an MA in Banking and Finance from the University College of North Wales (now Bangor), and an MSc in Financial Economics from the University of London.
4. Wigwe started his career at Coopers & Lybrand, Lagos, as a management consultant, later qualifying as a chartered accountant.
5. After a stint at Capital Bank, he joined Guaranty Trust Bank where he spent over a decade working in corporate and institutional banking, rising to become the executive director in charge of institutional banking.
6. Wigwe also served as the Chairman of Access Bank Ghana Limited, Access Investment & Securities Limited, Central Securities and Clearing System (CSCS). He was the Chairman of Access Bank (UK) Limited until his demise.
7. In 2016, in recognition of “his exemplary role in the society and contributions to youth development”, the Boys’ Brigade (BB), inaugurated Herbert Wigwe as State Patron for Lagos State Council.
8. Wigwe was named 2016 Banker of The Year, separately, by The Sun and Vanguard newspapers.
9. In 2016, Wigwe founded The HOW Foundation, a non-profit organization.
10. In October 2022, a Nigerian national honour of Commander of the Order of the Niger (CON) was conferred on him by President Muhammadu Buhari.
11. The deceased is behind the Wigwe University located at Isiokpo, Rivers State. The university is expected to kick off in September 2024.
Conclusion – Herbert Wigwe Biography
Herbert Wigwe’s legacy extends beyond his accomplishments in the banking industry. His vision, leadership, and commitment to innovation have left an indelible mark, shaping Access Bank into a powerhouse within the Nigerian and global financial landscape.
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