During the late hours of 10th February, 2024), news spread that one of the most influential figures in the Nigerian business scene, Dr. Herbert Wigwe CFR, the founding Group Chief Executive Officer of Access Holdings and former Group Managing Director of Access Bank Plc, was involved in a fatal airborne accident in the United States.
Upon sending shock waves both abroad and home, the development went viral on social media, at the least stirring curiosity regarding the authenticity of its said cause.
How Did it Happen?
Herbert, who is best known as the CEO of Access Bank, was in a helicopter transit with five others (including members of his own family) when the aircraft suffered a technical difficulty and crashed somewhere in California.
The chopper designated as Eurocopter EC 130 was en route to Boulder City, Nevada from Palm Springs, but crashed near Nipton, an unincorporated community in the Ivanpah Valley in San Bernardino County.
Others involved in the accident have been identified as his wife, his son, erstwhile Chairman of Nigerian Exchange Group Plc Abimbola Ogunbanjo, and two yet unnamed others.
While investigating the root cause of the helicopter mishap, the United States Federal Aviation Administration (FAA) released a statement confirming that there were no survivors found on the scene.
“We were made aware of a downed aircraft at approximately 10:12 p.m., on February 9, 2024. The scene of the crash was determined to be east of the 15-Freeway, near Halloran Springs Road,” the San Bernardino County Sheriff’s Department said.
As the reason for the accident remains vague, the United States National Transportation Board has deployed an investigative team to look into the occurrence and provide much-needed answers.
Access Bank is yet to release an explainer on the matter but has briefed the public with the above update.
Who was Dr Herbert Wigwe?
Herbert Onyewumbu Wigwe, born on August 15, 1966 in Port Harcourt, Rivers State, is easily one of the most popular persons in the Nigerian (and by extension African) financial industry.
With an accountancy degree from the University of Nigeria, Nsukka (UNN), his professional career kicked off at Coopers & Lybrand Associates, a cross-border organization of chartered accountants.
Shortly after this, he joined Guaranty Trust Bank Plc, where he spent a decade managing several portfolios for financial institutions, big corporations, and multinational entities.
Herbert eventually left GT Bank in 2002 to lend a hand in leading the revamp of Access Bank, one of the top five financial institutions in the country. He joined as Deputy Managing Director, and on the back of his efforts, was promoted to Group Managing Director/CEO in 2014.
Dr. Wigwe oversaw affairs at Access Bank up until 2022, when (in May) he was made a non-executive director. Under his watch, Access Bank transitioned to a holding company and a modern financial services provider with a pan-African purview.
On the back of its holdco status, in September 2022, Access Bank was able to launch Hydrogen, a CBN-licensed digital payments platform. It went on to get approval to launch Oxygen X, a standalone consumer lending subsidiary.
Herbert also spearheaded the Bank’s expansion, acquiring shareholding in:
- Diamond Bank
- Intercontinental Bank
- Megatech Insurance Brokers Limited
- Zambia’s Atlas Mara
- African Banking Corporation of Botswana
- Angola’s Finibanco
- And a host of other financial outfits both home and elsewhere on the continent.
Mr. Wigwe served as the Chairman of Access Bank (Ghana), Access Investment & Securities Limited, Central Securities and Clearing System (CSCS) and Chairman of Access Bank (UK) Limited and Unified Payments Services Limited.
He was also a board member of Nigerian Mortgage Refinance Company and part of the advisory board for Friends Africa, which provides personal and social development opportunities for the young.
Herbert Wigwe’s Real-world Impact
Outside finance, Wigwe’s mark is still evident. As a philanthropic, in 2016 he set up The How Foundation, a non-profit social enterprise vested in enhancing African livelihoods through impact-first programs in partnership with non-governmental organizations (NGOs).
Along the lines of giving back to society and love for education, he disclosed last year his intentions to build a tertiary academic institution in his hometown, Isiokpo.
Called Wigwe University, the school, touted as an African first in the Ivy League category is set to open in September 2024. The tycoon invested $500 million on the institution in November 2023.
In a team with Access Bank and UNICEF, Wigwe supports vulnerable children, orphans, and displaced individuals in parts of northern Nigeria. To spread word on the cause, the collaborators hold the Access Bank/UNICEF Charity Shield Polo, annually.
With the aegis of the Bank, in 2008 he established the W Initiative to raise, groom, support, and overall empower Nigerian women via capacity building and finance-accessing programs.
His works have earned him various awards, including the 2016 Banker of The Year by The Sun and Vanguard newspapers, two of Nigeria’s biggest newspaper publications.
Herbert Wigwe’s professional and extracurricular achievements will outlive him, and his legacy will remain indelible. Our hearts go out to all those affected by the loss.
His Family and Personal Life
Herbert Wigwe, a man of many facets, was not only a prominent figure in the business world but also a devoted family man with a deep-rooted faith.
Married to Chizoba Wigwe (nee Nwuba), a lawyer and entrepreneur, they shared a family bond enriched by their four children: Chizi, Tochi, Hannah, and David. His commitment to his family was evident in the quality time he devoted to them, cherishing every moment spent together.
Faith played a central role in Wigwe’s life, as he embraced Christian values and was an active member of the Redeemed Christian Church of God (RCCG).
Within the church community, he served not only as a congregant but also as a pastor and mentor, guiding and uplifting those around him through his unwavering belief in God.
Beyond his familial and spiritual pursuits, Wigwe cultivated diverse interests that enriched his life. An avid reader, he delved into books spanning various genres, including history, biographies, leadership, and spirituality, seeking knowledge and inspiration.
Additionally, he found joy and relaxation in sports, particularly football, golf, and tennis, with a steadfast loyalty to Arsenal FC and fervent support for the Nigerian national team.
Wigwe’s engagement extended beyond his personal sphere to the digital realm, where he maintained an active presence on social media platforms.
With over 300,000 followers on Instagram (@herbertwigwe), he shared his insights, opinions, and experiences, offering glimpses into his professional endeavors, family life, travels, and hobbies. Through his online presence, he fostered connections, imparted wisdom, and engaged with a diverse audience, leaving a lasting impact beyond the confines of his immediate circle.
Wigwe University
Wigwe University founded by visionary entrepreneur and leader, Herbert Wigwe under the auspices of the Herbert Onyewumbu Wigwe (HOW) Foundation. The university is poised to become a top contender in delivering world class education within and beyond the continent, marking a monumental milestone in the pursuit of academic excellence.
Located in Isiokpo, Rivers State Nigeria, Wigwe University promises to be a school of distinction, committed to challenging the status quo in business, politics, technology, science, art, etc. Set to be a Pan-African institution, the university’s vision is “to ignite Africa’s potential for prosperity, nurture thoughtful, fearless leaders and become the leading university in Africa”.
According to the later founder, Herbert Wigwe, one of the key drivers of the creation of Wigwe University is moulding innovative leaders that will effect positive change in our society. The goal is to create an efficient ecosystem that produces fearless leaders who are passionate about preserving our cultural values. His mission through the university is to change the course of Africa’s future through a globally relevant and locally impactful curriculum taught through novel methods by an expert faculty to rival the world’s most prestigious universities.
“The Wigwe University project is special because it is an opportunity for me to give back to society by providing world-class quality education that will foster the development of Nigeria and Africa. The project’s major focus is nurturing and building responsible and thoughtful leaders who have the capacity to ignite the potential of the continent and take its rightful place as far as the global stage is concerned. We want to build people who will alter where Nigeria and Africa is going, and make sure that we remain a very competitive place.” Herbert Wigwe stated.
Wigwe University will officially commence operations in September 2024, opening its doors to passionate students seeking a world-class education. The university will offer a diverse range of programs across four (4) major colleges including the College of Management and Social Sciences, the College of Art, the College of Science and Computing, and the College of Engineering, with a distinct curriculum ensuring that students can explore their passions and potential in an intellectually stimulating environment.
Herbert Wigwe Net Worth
Dr Herbert’s ventures in banking and investment led him in accumulating significant wealth, although the precise details of his net worth remain undisclosed to the public. It’s estimated that his fortune approximates $65.2 million, positioning him as one of the wealthiest bankers on the African continent. His financial success underscores his prominence and respect within the financial sector, solidifying his reputation as a notable figure in the industry.
Mourning a Loss, Celebrating a Legacy
The passing of Herbert Wigwe not only left a void in the Nigerian banking sector but also reverberated across the entire African continent. His legacy of excellence, innovation, and unwavering commitment to success will continue to inspire generations to come.
As investigations into the helicopter crash proceed, the world mourns the loss of a visionary leader, while celebrating the enduring impact of his remarkable life.
In the wake of Herbert Wigwe’s untimely demise, the world reflects on the profound loss suffered by the banking industry and beyond.
His legacy, built on a foundation of integrity, hard work, and dedication, will endure as a guiding light for aspiring leaders and entrepreneurs. As we mourn his passing, Today Africa also honor the indelible mark he left on the world, a testament to a life lived with purpose and passion.
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