Herbert Wigwe @ 60: Celebrating a Life of Impact

Dr. Herbert Onyewumbu Wigwe, the late banker, entrepreneur and philanthropist, would have turned 60 today, offering an occasion to reflect on a life defined by ambition, institution-building and service. From transforming Access Bank into a major African financial institution to investing in education, healthcare and youth development, Wigwe believed success carried a responsibility to create opportunities for others. His vision extended beyond banking, finding expression in The HOW Foundation, Wigwe University and initiatives aimed at nurturing future leaders. Two years after his death, the institutions he built and the lives he touched continue to keep his remarkable legacy alive, writes Omolabake Fasogbon

Dr. Herbert Onyewumbu Wigwe, the late banker, entrepreneur and philanthropist, would have turned 60 today, leaving behind a legacy that continues to influence banking, education, healthcare and youth development in Nigeria and beyond.

Wigwe, who rose to become one of Africa’s leading financial executives, was widely known for his role in the transformation and expansion of Access Bank. But beyond banking, he devoted considerable attention and resources to building institutions, supporting young people and creating opportunities for disadvantaged communities.

To his family, friends and associates, he was also a mentor and a firm believer in the ability of people to achieve more when given the right opportunities.

As Co-Founder and Group Chief Executive Officer of Access Bank and later Access Holdings, Wigwe played a major role in the growth of the financial institution from a Nigerian bank into a financial services group with operations across several countries. His ambition was not simply to build a successful Nigerian bank, but to develop an African institution capable of competing with leading financial organisations around the world.

His influence also extended beyond Access Bank. As Chairman of the Bankers’ Committee, Wigwe participated in discussions on major issues affecting Nigeria’s banking industry and economy. He worked with government officials, regulators and other business leaders, believing that the private sector had a responsibility to contribute to national development and help find solutions to the country’s social and economic challenges.

Wigwe’s belief that business success should make a difference in society was reflected in the establishment of The HOW Foundation in 2016.

Through the Foundation, he supported programmes in education, healthcare, mentorship and youth development. Its interventions included educational support for disadvantaged children, programmes in Makoko and for Almajiri children, medical scholarships and specialist oncology training. The Foundation also supported the adoption and rehabilitation of 25 primary healthcare centres in Rivers State.

Perhaps one of Wigwe’s most ambitious projects was Wigwe University, which reflected his strong belief in the power of education to transform Africa. He envisioned a university that would produce confident, entrepreneurial and globally competitive young Africans capable of creating jobs, solving problems and building institutions.

The university received its operating licence in 2023 and, despite Wigwe’s death before it fully opened, went ahead to welcome its first students and continue the vision of its founder.

His commitment to developing a new generation of African leaders also continues through initiatives such as the Fearless Leadership Series and the Wigwe Venture Lab. Wigwe encouraged young Nigerians to think boldly, challenge convention, take responsibility and create solutions. He believed leadership was not simply about occupying an important position, but about making a positive impact on people and society.

 Wigwe died in February 2024 while many of his plans were still unfolding, but the institutions he helped to build and the people he supported continue to carry his vision. As family members, friends, colleagues and associates mark what would have been his 60th birthday, his story remains one of ambition, institution-building, philanthropy and service.

His legacy is increasingly being measured not only by what he achieved during his lifetime but also by the institutions he created, the opportunities he provided and the people he inspired.

Born on August 15, 1966, the deceased started his professional career with Coopers & Lybrand Associates, an international firm of Chartered Accountants. He spent over 10 years at Guaranty Trust Bank Plc where he managed several portfolios, including financial institutions, large corporates and multinationals.

He left Guaranty Trust Bank as an Executive Director to co-lead the transformation of Access Bank Plc in March 2002 as Deputy Managing Director. He was appointed Group Managing Director/CEO effective January 1, 2014 and served in that capacity till May 2022. He was subsequently appointed a Non-Executive Director of the Bank effective May 2022.

Wigwe was an alumnus of the Harvard Business School Executive Management Programme. He held master’s degree in Banking and International Finance from the University College of North Wales, a master’s degree in Financial Economics from the University of London and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka (UNN).

He was also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He was the Chairman of Access Bank (UK) Ltd and a Non-Executive Director of Nigerian Mortgage Refinance Company Plc; FMDQ OTC Securities Exchange; Shared Agents Network Expansion Facilities Ltd and Agri-Business/ SME Enterprises Investment Scheme. He is also a member of the Governing Council of the Chartered Institute of Bankers of Nigeria.

Wigwe was one of the most respected bankers on the continent, without a shadow of a doubt and he understood that without embracing change and having foresights, banks would not be able to compete and would be left behind by their peers, which would definitely impact customer satisfaction, operational efficiency, and revenue growth negatively.

This was why he continuously ensured that Access Holdings under his watch emerged as one of Africa’s leading financial services groups. He showed relentless pursuit for growth, but in a measured and calculated manner.

From a small bank in 2002, the late Wigwe and his close friend, business partner and currently Non-Executive Chairman of Access Holdings Plc, Aigboje Aig-Imoukhuede, completely transformed the bank which at some point was ranked 65th among 89 banks operating in the country.

Wigwe has helped to develop some of Africa’s biggest companies in the construction, telecommunications, energy, oil and gas sectors through Access Bank.

Immediately the African Continental Free Trade Area (AfCFTA) was established in 2018, Wigwe saw it as an opportunity to position Access Bank and the parent company for the continental benefits. This saw him aggressively drive the expansion of the institution.

“We are building a strong and sustainable franchise to support economic prosperity, encourage Africa trade, advance financial inclusion thereby empowering many to achieve their financial dreams.

“We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets.

“The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present.

“In doing this, we are also mindful of the country we are going to so as to make sure that it is of benefit to the bank. As we do this, we are working with our friends and partners,” he had said while speaking about his big dream for the financial institution.

Today, Access Holdings has spread from Nigeria to Rwanda, Ghana, South Africa, Mozambique, Kenya, Zambia, Angola, France, United Kingdom, Botswana, Guinea, R.D. Congo, Gambia, Tanzania, Uganda, among several other countries.

His latest aggressive expansionist drive was in Zambia, where Access Bank Zambia Limited last month announced the completion of its acquisition of African Banking Corporation Zambia Limited (also known as Atlas Mara Zambia), after obtaining all requisite regulatory approvals.