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 Aduragbemi Omiyale
The creative industry in Nigeria may have nothing to worry about with the likes of Stanbic IBTC Bank around the corner.
The financial institution, which has not hidden its love for the sector, has promised to continue with its strategic investment in the country’s designers and artists.
Speaking at an event, An Evening of Fashion, Art & Lifestyle, the Executive Director for Personal and Private Banking at Stanbic IBTC Bank, Mr Olu Delano, represented by the Head of its Private Banking Segment, Ms Layo Ilori-Olaogun, said the company was proud to be associated with the programme, which it also sponsored.
“At Stanbic IBTC, we recognise Nigeria’s creative sector as a vital driver of economic diversification, employment, and global cultural influence.
“We are proud to support the individuals behind these platforms that elevate African excellence and provide visionary talents the visibility that they deserve.
“Nights like this reaffirm our commitment to continued strategic investment in our artists and designers,” he stated.
The invitation-only ceremony, which was held at The Garden, Federal Palace Hotel, Victoria Island, Lagos, hosted by Africa’s leading luxury fashion house, 2207bytbally, in collaboration with the acclaimed art collective Torrista, brought together high-net-worth individuals, art collectors, designers, media personalities, and luxury brand executives for an unparalleled showcase of creativity and sophistication.
The evening opened with a breathtaking runway presentation featuring three signature segments from the Evolve collection by 2207bytbally: Denim, Ethnic, and 2207 Prints. Each piece exemplified the meticulous craftsmanship, bold innovation, and cultural storytelling that has established the brand as a standard-bearer in African luxury fashion.
Complementing the couture was a curated exhibition by Torrista, transforming the venue into an immersive gallery. Commissioned artworks exploring themes of culture, femininity, and evolution created a robust visual dialogue with the collections, demonstrating the seamless harmony that can result when fashion and fine art converge.
“This evening was about more than clothes or canvases; it was about showing the world that African creativity is limitless. When fashion and art share the same space, magic happens, and tonight, Lagos felt that magic,” the Creative Director of 2207bytbally, Tolu Bally, stated.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
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