What was Herbert Wigwe's Net Worth?
Herbert Wigwe was a Nigerian banker, businessman, and philanthropist who had a net worth of $100 million at the time of his death in 2024. Herbert Wigwe served as the CEO and group managing director of Access Bank, one of Nigeria's and Africa's top banking institutions. Earlier in his career, he worked at Coopers & Lybrand and Guaranty Trust Bank. On February 9, 2024, Wigwe was killed in a helicopter crash on his way to attend Super Bowl LVIII in Las Vegas.
Early Life and Education
Herbert Wigwe was born on August 15, 1966 in either Ibadan or Isiokpo, Nigeria. His mother was a nurse, while his father was the head of the Nigerian Television Authority. For his higher education, Wigwe attended the University of Nigeria in Nsukka, from which he earned his bachelor's degree in accountancy in 1987. He went on to earn his master's degree in banking and finance from the University College of North Wales in 1991. Staying in the UK, Wigwe subsequently attended the University of London, where he obtained another master's degree, this one in financial economics.
Career Beginnings
Wigwe began his career as a management consultant at the accountancy practice Coopers & Lybrand in the late 1980s. He eventually became a chartered accountant there. Later, Wigwe joined Guaranty Trust Bank, where he worked for over a decade. In the late 1990s, he became executive director of the company.
Access Bank
In 2002, Wigwe and his business partner Aigboje Aig-Imoukhuede purchased Access Bank in Nigeria. Wigwe became the company's deputy managing director, and in 2014 became CEO and group managing director. Under his leadership, Access Bank grew to the fourth-largest bank in Nigeria by 2017. Following its merger with competitor Diamond Bank in 2019, it became the largest bank in Nigeria by assets and the largest bank in Africa by customer base. Beyond Nigeria, Access Bank has subsidiaries in Zambia, Rwanda, Ghana, Kenya, Mozambique, South Africa, and the United Kingdom, among other countries. Before his untimely death in early 2024, Wigwe had planned to expand the bank into Asia.
(Photo by Theo Wargo/Getty Images for Global Citizen)
Philanthropy
Wigwe was significantly involved in philanthropy during his lifetime. Among his endeavors, he was involved in the creation of the Access Conference, a biennial leadership series launched in 2013 to address major world challenges. Speakers at the event have included such public figures as Nicolas Sarkozy, Muhammad Yunus, and John Kufuor. Elsewhere, Wigwe founded the non-profit HOW Foundation in 2016. Headquartered in Lagos, Nigeria, the organization is devoted to youth empowerment through leadership and mentorship, and maintains a particular focus on health issues. In other philanthropic activities, Wigwe and Access Bank collaborated with UNICEF to provide support to children and displaced people in northern Nigeria. Wigwe also served as co-chair of the Nigerian Business Coalition Against AIDS, a private-sector group working to eradicate HIV/AIDS in Nigeria.
Honors and Awards
Due to his success in the banking world, Wigwe was named Banker of the Year in 2016 by the major Nigerian newspapers The Sun and Vanguard. In 2018, he was given an honorary doctorate from his alma mater the University of Nigeria. Later, in 2022, Wigwe was named Commander of the Order of the Federal Republic by Nigerian president Muhammadu Buhari.
Personal Life and Death
In 1994, Wigwe married Doreen Nwuba. Together, they had four children.
On February 9, 2024, Wigwe and five others, including his wife Doreen and son Chizi, were killed in a helicopter crash near Nipton, California. The passengers were traveling from Palm Springs to Boulder City, Nevada on a charter flight operated by Orbic Air to attend Super Bowl LVIII.
