Members of the Board of Directors at Access Holdings Plc were left devastated by the sudden loss of Herbert Wigwe, a highly regarded figure within the organization. Wigwe, who served as the CEO of Access Bank and later as the Group CEO, tragically passed away in a helicopter crash in California on Friday night.
Also on board was Abimbola Ogunbanjo, former group chairman of Nigerian Exchange Group Plc (NGX Group), and a close confidant of Wigwe. The entire manifest, including the pilot and co-pilot, lost their lives in the accident.
Herbert Wigwe was widely recognized as one of the prominent bankers of the post-consolidation era. Alongside his business associate Aigboje Aig-Imoukhuede, Wigwe played a pivotal role in transforming Access Bank into Nigeria’s largest financial institution. Known for their audacious acquisition deals, Wigwe and his team propelled Access Bank’s growth and established its reputation in the banking sector.
Now, Access Holdings faces the challenging task of finding a suitable replacement for the late banking icon. With no deputy CEO in place, the board of directors is working against the clock to fill the vacant position, aiming to make an appointment as early as this week. While Access Holdings is a non-operating entity, the organization has stated its commitment to appointing an acting Group CEO in line with its continuity policy.
A statement released by the Group Company Secretary, Sunday Ekwochi, stated, “The board will soon announce the appointment of an Acting Group Chief Executive Officer, even as we remain confident that the Access Group will build further on Wigwe’s legacy of growth and operational excellence.” The statement also acknowledged Wigwe’s instrumental role in the bank’s expansion and his contributions to various organizations and causes, such as the fight against malaria and HIV/AIDS.
Herbert Wigwe’s untimely demise has deeply impacted the Nigerian financial community. Access Holdings Chairman, Abubakar Jimoh, expressed condolences on behalf of the entire Access family, highlighting Wigwe’s significant contributions to the bank’s transformation over the past two decades. Similarly, the Nigerian Exchange Group Plc (NGX Group) mourned the loss of Ogunbanjo, describing him as a visionary leader in Nigeria’s corporate legal and capital market spheres.
Meanwhile, the National Transportation Safety Board (NTSB) in the United States has commenced an investigation into the helicopter crash. The Federal Aviation Administration (FAA) confirmed its involvement, with the NTSB leading the investigation. Preliminary findings suggest that wintry weather conditions may have played a role in the accident. The NTSB will thoroughly examine factors such as airworthiness, maintenance, meteorology, and air traffic control to determine the probable cause of the crash. A comprehensive report is expected to be published within 12 to 24 months.
The tragic passing of Wigwe and Ogunbanjo has prompted an outpouring of condolences from various individuals and organizations. President Bola Tinubu expressed profound distress, describing the incident as an overwhelming tragedy. Similarly, Peter Obi, a prominent political figure, postponed his travel plans upon hearing the news and extended his condolences to the families affected by the crash.
The loss of Herbert Wigwe and Abimbola Ogunbanjo has left a void in the business and financial communities. Their legacies as influential figures in Nigeria will be remembered, and the search for Wigwe’s successor at Access Holdings is underway as the organization strives to carry forward his vision of growth and excellence.
Lagos State Governor Babajide Sanwo-Olu expressed his personal loss, describing Wigwe as the “king of visionary and disruptive ideas” and highlighting his unparalleled contributions to the banking and financial sector in Africa. Sanwo-Olu considered Wigwe a brother, friend, and adviser, emphasizing the tremendous loss to Lagos, Nigeria, and the banking industry.
Edo State Governor Godwin Obaseki expressed shock and devastation at the sudden death of Wigwe and others in the crash. He extended prayers for comfort during this difficult time. Similarly, Ogun State Governor Dapo Abiodun described the crash as a devastating loss for the families, friends, and the entire business community in Nigeria. Abiodun emphasized that Wigwe’s death created a void that would be difficult to fill. He also condoled with the Ogunbanjo family on the loss of Abimbola Ogunbanjo, highlighting his exceptional business acumen and integrity.
Rivers State Governor Siminalayi Fubara referred to the incident as a monumental disaster. He expressed the state’s and Nigeria’s deep sorrow, acknowledging Wigwe’s rise as an outstanding African financial sector leader and his establishment of Wigwe University in Isiokpo, Rivers State. Governor Peter Mbah of Enugu State mourned Wigwe as a corporate titan, emphasizing his contributions to the banking industry, corporate world, and global entrepreneurship.
Prominent business figures Tony Elumelu and Femi Otedola also paid tribute to Wigwe. Elumelu, chairman of Heirs Holdings, regarded the loss of Wigwe and Ogunbanjo as a significant blow to Africa. He highlighted their leadership, entrepreneurial drive, and the shining example they set for millions of young people. Femi Otedola, a billionaire businessman, recalled his recent visit to Wigwe’s newly built Lagos residence alongside Aliko Dangote, chairman of Dangote Group. Otedola cherished the memories he shared with Wigwe.
The heartfelt tributes and condolences from political leaders and business magnates underscore the immense impact of Herbert Wigwe’s life and legacy on Nigeria’s banking industry and the wider community. His visionary leadership, philanthropy, and remarkable achievements will be remembered by many.
Source: Guardian