Herbert Wigwe Biography: Early Life, Age, Net Worth, Death

Let’s uncover the fascinating Herbert Wigwe biography.

Herbert Onyewumbu Wigwe, often referred to simply as Herbert Wigwe, was a distinguished Nigerian banker and entrepreneur.

Born on August 15, 1966, in Lagos, Nigeria, he rose to prominence as the Group Chief Executive Officer (CEO) of Access Holdings Plc, the parent company of Access Bank, one of Africa’s leading financial institutions.

His visionary leadership and commitment to excellence left an indelible mark on the banking industry.

Herbert Wigwe Biography Summary

Herbert Wigwe Early Life and Education

Herbert Wigwe was born into a family with deep roots in Nigeria’s Niger Delta region. His early years were marked by significant challenges, including the Nigerian Civil War, which forced his family to flee when he was just three days old.

Despite these adversities, Wigwe’s upbringing was characterized by resilience and a strong emphasis on education.

At the age of 11, he left his family to attend school in the northern part of Nigeria, near the Sahara. This experience exposed him to diverse cultures and religions, fostering a sense of independence and adaptability.

During his childhood, Wigwe also battled leprosy, a condition that taught him to navigate social interactions without being self-conscious about his appearance.

This period honed his environmental awareness and heightened his ability to sense danger, traits that would later influence his leadership style.

Wigwe’s academic journey began at the University of Nigeria, Nsukka, where he earned a degree in accountancy. His quest for knowledge led him to the University of North Wales (now Bangor), where he obtained a Master’s degree in Banking and Finance.

He furthered his education at the prestigious University of London, earning a Master’s degree in Financial Economics. These academic achievements provided a solid foundation for his future endeavors in the banking sector.

Herbert Wigwe Career

Herbert Wigwe commenced his professional career with Coopers & Lybrand Associates, an international firm of Chartered Accountants. His tenure there equipped him with essential skills in financial management and consultancy.

In 1991, he joined Guaranty Trust Bank Plc, where he spent over a decade managing various portfolios, including financial institutions, large corporates, and multinationals. His dedication and expertise led to his appointment as Executive Director at the young age of 33.

In 2002, Wigwe, alongside his business partner Aigboje Aig-Imoukhuede, acquired Access Bank. Their acquisition was initially met with skepticism due to their relatively young ages, but their vision and determination propelled the bank’s growth.

Under their leadership, Access Bank transformed from a mid-tier bank to one of Nigeria’s largest financial institutions. Wigwe served as Deputy Managing Director from 2002 to 2014 and was appointed Group Managing Director/CEO in January 2014.

During his tenure, Access Bank achieved significant milestones, including the landmark merger with Diamond Bank in 2018, which positioned it as the largest bank in Nigeria by assets.

Beyond banking, Wigwe was a philanthropist committed to social causes. He collaborated with UNICEF to support vulnerable children and internally displaced persons in Northern Nigeria. He also founded The HOW Foundation, a non-profit organization focused on health, education, and empowerment initiatives.

In 2017, he co-chaired the Nigerian Business Coalition against AIDS, demonstrating his commitment to eradicating HIV/AIDS in Nigeria.

Recent Developments

Tragically, on February 9, 2024, Herbert Wigwe, his wife Doreen, and their son Chizi were involved in a fatal helicopter crash near Nipton, California, USA. The crash also claimed the lives of former Nigerian Exchange Group Chairman Abimbola Ogunbanjo and two crew members.

They were en route from Palm Springs International Airport to Boulder City, Nevada, to attend the Super Bowl LVIII in Las Vegas. The news of his untimely death sent shockwaves across Nigeria and the global banking community, with tributes pouring in from various quarters.

Following his passing, Access Holdings Plc appointed Bolaji Agbede as the acting Group Chief Executive Officer to steer the institution through this challenging period.

Herbert Wigwe Legacy

Herbert Wigwe’s legacy is characterized by his transformative impact on Nigeria’s banking sector. His visionary leadership, commitment to innovation, and dedication to social causes have left an enduring imprint.

His efforts in expanding Access Bank’s footprint across Africa and beyond have set a benchmark for excellence in the industry. Moreover, his philanthropic initiatives continue to inspire positive change in various communities.

Frequently Asked Questions (FAQs)

Who was Herbert Wigwe?

Herbert Onyewumbu Wigwe was a renowned Nigerian banker and entrepreneur, best known for his role as the Group CEO of Access Holdings Plc, the parent company of Access Bank. Under his leadership, Access Bank grew to become one of Africa’s leading financial institutions.

What were Herbert Wigwe’s educational qualifications?

Herbert Wigwe held a degree in Accountancy from the University of Nigeria, Nsukka, which laid the foundation for his journey in finance and banking. He later pursued a Master’s degree in Banking and Finance from the University of North Wales (now Bangor University).

To further solidify his expertise, he earned a second Master’s degree in Financial Economics from the University of London. His robust academic background played a pivotal role in shaping his career and leadership style.

How did Herbert Wigwe impact Access Bank?

Herbert Wigwe was instrumental in transforming Access Bank from a mid-tier institution into one of Africa’s largest and most respected financial institutions.

As Deputy Managing Director and later as Group Managing Director/CEO, Wigwe drove strategic initiatives that included the acquisition of Diamond Bank in 2018, which significantly boosted Access Bank’s customer base and assets.

His tenure was marked by innovation, strategic expansion, and a focus on sustainability, leaving an indelible mark on the banking sector.

What philanthropic initiatives was Herbert Wigwe involved in?

Herbert Wigwe was deeply committed to philanthropy and social impact. He collaborated with UNICEF to support vulnerable children and internally displaced persons in Nigeria. He also founded The HOW Foundation, which focused on health, education, and empowerment initiatives, addressing issues like malaria eradication and youth development.

In addition, Wigwe co-chaired the Nigerian Business Coalition Against AIDS, demonstrating his commitment to combating HIV/AIDS in Nigeria.

How did Herbert Wigwe die?

On February 9, 2024, Herbert Wigwe tragically lost his life in a helicopter crash near Nipton, California, USA. The accident also claimed the lives of his wife, Doreen, their son Chizi, and several others. They were traveling to attend the Super Bowl LVIII in Las Vegas.

His untimely death sent shockwaves through Nigeria and the global financial community, with tributes pouring in from across the world.

What is Herbert Wigwe’s net worth?

At the time of his passing, Herbert Wigwe’s estimated net worth was over $250 million, primarily derived from his successful banking career and strategic investments. His wealth was a testament to his business acumen and leadership capabilities.

Who succeeded Herbert Wigwe as Access Holdings’ CEO?

Following Herbert Wigwe’s death, Bolaji Agbede was appointed as the acting Group Chief Executive Officer of Access Holdings Plc. This appointment was made to ensure continuity and stability within the organization during a challenging time.