The Board of Access Holdings Plc is set to announce the appointment of a new Acting Group Chief Executive Officer after the passing of its Group CEO, Herbert Wigwe in a helicopter accident in California on Friday night.
The group’s statement announcing the passing of Herbert Wigwe read,
“In line with the Company’s policy, 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 Dr Wigwe’s legacy of growth and operational excellence.”
Access Holding is a sprawling conglomerate with an asset base of over a total of N21.4 trillion by far the largest of any financial institution in Nigeria.
The company also has a market cap of over N800 billion and was recently just part of the SWOOTs.
Analysts suggest the size of the bank and its sprawling influence require that a decision is made sooner rather than later about the leadership of the corporation to avoid a vacuum.
The recent passing of Herbert Wigwe, former Managing Director of Access Bank and Group CEO of Access Holdings, has sent shockwaves through the banking community.
Wigwe’s untimely demise not only marks a profound loss for Access Holdings but also signifies a significant void in the banking sphere, even beyond the borders of Nigeria.
Wigwe’s tenure at Access Bank was nothing short of transformative. Joining the institution in 2002 as Deputy Managing Director, he played a pivotal role in its evolution. In 2014, Wigwe assumed the mantle of Managing Director, succeeding Aigboje Aig-Imoukhuede.
Under his leadership, Access Bank embarked on a remarkable journey of expansion, extending its reach far beyond the confines of Nigeria.
Before his untimely passing, Wigwe was serving as the Chairman of Access Bank (UK) Limited, and Non-Executive Director of Nigerian Mortgage Refinance Company Plc and FMDQ OTC Securities Exchange.
The investigation is still ongoing by the US National Transportation Safety Board (NTSB) into the cause of the crash.
However, NTSB member, Michael Graham while briefing journalists about the crash noted that the weather conditions at the time of the accident suggested “rain and a wintery mix”.
Wigwe was aboard the Airbus EC130 Helicopter with his wife, Chizoba, son, Chizi, and Abimbola Ogunbanjo, the former Group Chairman of Nigerian Exchange Group Plc.