Banking
Profile of Late Access Holdings CEO Herbert Wigwe
By Modupe Gbadeyanka
Dr Herbert Wigwe was a visionary leader, philanthropist, and the founder of Wigwe University. In his professional life, he was the Group Chief Executive Officer of Access Holdings Plc (also known as Access Corporation), a multi-national financial services organization that offers commercial banking, lending, payment, pension, insurance, and asset management services.
Access Corporation is headquartered in Lagos, Nigeria and operates through a network of more than 600 branches and service outlets, spanning three continents, 18 countries, and 50+ million customers managed by over 28,000 employees. Access Bank, the corporation’s banking business, is one of Africa’s largest retail banks by customer base and total assets.
For eight years until May 2022, Dr Wigwe led Access Bank Plc as its Group Managing Director and Chief Executive Officer through an extraordinary growth period. Some of the accolades accorded him included Banker of the Year, 2020 by Leadership Awards; African Banker of the Year, 2021 by African Banker Award; and Best Banking CEO, 2021 by Global Brands Magazine Awards.
A passionate advocate for the United Nations Sustainable Development Goals, Dr Wigwe spoke frequently at business forums and conventions, strongly encouraging a global business commitment to the achievement of the Goals. In his role as Group Managing Director of Access Bank Plc, he was the first African sponsor of the United Nations Global Compact Initiative.
He was a Board member of Nigeria’s Business Coalition Against AIDS which leads major businesses in Nigeria in fighting HIV and AIDS at all levels of intervention within the health system and the private sector workforce. Similarly, he advocated the eradication of malaria in Africa and was a partner of the Corporate Alliance on Malaria in Africa to achieve this objective.
Dr Wigwe’s commitment to the development of Nigeria and Africa extended to numerous initiatives. At the onset of the COVID-19 global crisis, for example, he swiftly responded to Nigeria’s private and public healthcare’s inability to respond effectively by galvanizing support for and co-leading the formation of CACOVID (Coalition Against COVID-19) comprised the Central Bank of Nigeria; major financial institutions in Nigeria; and key stakeholders in Nigeria’s private sector.
He led the coalition to support the federal government in mitigating the impact of the pandemic and reopening the economy.
Dr Wigwe, Access Bank and UNICEF collaborated to support vulnerable children, orphans, and internationally displaced persons in the northern part of Nigeria. To raise awareness and funds for this purpose, the bank organises and hosts annual high-profile Access Bank/UNICEF Charity Shield Polo Tournaments in Nigeria, London, and South Africa.
In 2023, he embarked on a transformative journey by founding Wigwe University. With a vision to ignite Africa’s potential for prosperity and nurture fearless leaders who will change the course of history, he introduced an institution set to rival top universities around the world.
Wigwe University promises to elevate educational standards while creating a unique African experience. Dr Wigwe believed that education was the key to unlocking Africa’s potential through Wigwe University, and sought to leave a legacy that would contribute immensely to the continent’s greatness.
His commitment to education was rooted in the belief that nurturing intellectual capital was pivotal for societal development.
Dr Wigwe envisioned Wigwe University as a beacon of knowledge, innovation, and excellence, designed to empower future leaders and contribute to the socioeconomic advancement of the continent. This endeavour represented his profound dedication to shaping a brighter future for Africa, making education the cornerstone of his enduring legacy.
In 2023, in recognition of exemplary service to his country, Dr Wigwe was awarded the Commander of the Order of the Federal Republic – one of the nation’s top honours.
Dr Wigwe was an alumnus of the Harvard Business School Executive Management Programme. He held Honorary Doctorate degrees from the University of Port Harcourt, Gombe State University and the University of Nigeria, Master’s Degrees in Law, Banking and International Finance, and Financial Economics from the University of London, University of North Wales and the University of London, respectively. He also held a Bachelor of Science Degree in Accounting from the University of Nigeria, Nsukka.
By Modupe Gbadeyanka
The sum of N17.97 million has been won by at least 273 customers of Wema Bank Plc through its 5 for 5 Rewards campaign launched on May 2, 2026.
At the activation of the promo at Ikeja City Mall, Lagos, 81 customers were given N81,000 each, resulting in N6.56 million in rewards on launch day. Since then, the campaign has continued to reward customers through daily and monthly draws, with an additional 192 winners emerging within the first month.
Across the Youth segment, 37 students have received rewards worth N4.4 million, including 20 students who got N50,000 PocketMoni rewards and 17 university students who received N200,000 each in Tuition Support.
The Women segment also recorded strong participation, with 12 customers receiving N150,000 each through the #SelfCare category, while the Mass Market segment recorded the highest number of winners.
Within the first month, 120 customers received daily cash rewards, and 23 customers won N200,000 each in the monthly draw, bringing total rewards in the category to N5.2 million.
These have demonstrated the strong early impact of its refreshed customer rewards platform and reinforced its commitment to rewarding everyday banking.
“At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible.
“The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities,” the chief executive of Wema Bank, Mr Moruf Oseni, stated.
“Beyond rewarding transactions, we are encouraging positive financial habits while delivering real value to our customers.
“This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema,” he added.
Customers can participate by opening or reactivating a Wema Bank account, funding it with a minimum of N5,000, maintaining an average monthly balance of N5,000, and completing at least five transactions every month using the ALAT app, Wema or ALAT cards, or *945#.
With over N170 million earmarked for rewards between May and December 2026, thousands more customers are expected to benefit as the campaign continues, reaffirming Wema Bank’s commitment to rewarding loyalty, promoting positive financial behaviour and delivering value beyond banking.
By Aduragbemi Omiyale
The N3.97 billion commercial paper issuance of AG Mortgage Bank Plc will close on Thursday, June 18, 2026.
The sale of the debt instrument by the real estate lender commenced on Wednesday, June 10, 2026.
It is under the N5 billion commercial paper issuance programme of the lending firm aimed to support its short-term working capital and funding requirements.
The company is selling the papers in two series, with Series 2 offered at a discounted rate of 19.2895 per cent for 270 days, and Series 3 at a discounted rate of 19.3651 per cent for 364 days.
The minimum subscription is N5 million, and subsequent additions of N1 million.
AG Mortgage Bank is a leading primary mortgage bank in Nigeria with over two decades of experience in providing affordable mortgage financing and housing finance solutions.
The bank has grown its asset base to over N33 billion and remains a key participant in major housing intervention programmes, including the National Housing Fund Scheme and other government-backed mortgage initiatives.
Supported by a diversified product offering, strong institutional credibility, and an experienced management team, AG Mortgage Bank continues to deliver solid financial performance.
For FY 2025, interest income increased by 28.1 per cent to N3.65 billion, while profit after tax rose by 130.0 per cent to N1.05 billion, reflecting strong earnings growth, operational efficiency, and prudent risk management.
By Aduragbemi Omiyale
The chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, has reaffirmed the organisation’s long-term commitment to shareholders, expressing confidence in the company’s strategic positioning, which he said is underpinned by disciplined execution, a diversified business model, a strengthened capital base, and a clear focus on sustainable value creation.
Speaking at the 4th Annual General Meeting (AGM) of the firm on Wednesday, he explained that the temporary suspension of dividend distributions was a consequence of regulatory compliance requirements rather than any deterioration in the group’s financial performance.
Mr Aig-Imoukhuede reaffirmed that the financial institution’s earnings capacity remains strong and that the board’s position reflects adherence to supervisory expectations and prudent capital management principles.
He assured shareholders of the board’s commitment to resuming dividend payments as soon as the relevant regulatory conditions are satisfied, noting that, “Our approach is clear: capital retained today must translate into greater value tomorrow and sustainable returns for our shareholders.”
The Chairman reiterated the strategic imperative underpinning the company’s next phase of growth, saying, “Our strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity; value creation is how we fully realise it.”
He noted that while the organisation continues to generate strong returns, ensuring that earnings per share consistently exceed the cost of capital remains central to unlocking sustainable shareholder value.
The retired banker also acknowledged the significant unrealised value embedded within the firm’s international subsidiaries and reiterated management’s focus on improving market recognition of that intrinsic value over time.
Commenting on the financial performance of the group in 2025, he said Access Holdings accelerated provisions on legacy and regulatory forbearance credit exposures, resulting in elevated impairment charges.
He explained that the group consciously prioritised balance sheet strength and long-term resilience over short-term earnings optimisation.
“Periods of economic uncertainty often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing, but improving in the quality, resilience, and sustainability of its earnings,” he stated.
Last year, the financial services organisation delivered pre-tax profit of N1.007 trillion, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets increased to N51.56 trillion, while customer deposits grew strongly, reflecting sustained franchise momentum and deepening customer trust.
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