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
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) enrolment has slowed significantly in 2026 following the introduction of a stricter regulatory framework by the Central Bank of Nigeria (CBN), with the latest data from the Nigeria Inter-Bank Settlement System (NIBSS) showing that registrations are on course to fall well below last year’s record.
The BVN database stood at 69.55 million as of July 5, 2026, up from 69.32 million in June, indicating that only 228,947 new registrations were recorded over the period. Since the end of 2025, when the database stood at 67.8 million, total enrolments have increased by 1.75 million.
At the current pace, however, BVN registrations are unlikely to match the 4.3 million new enrolments recorded in 2025, suggesting a sharp deceleration in growth this year.
The slowdown comes after the CBN introduced a revised BVN regulatory framework in March, with the new rules taking effect on May 1, 2026. The framework tightened controls around enrolment, identity verification and fraud monitoring as part of efforts to strengthen the integrity of the banking system.
Among the key changes was the introduction of a minimum enrolment age of 18 years, effectively preventing minors from registering for a BVN.
The new framework also limits customers to a one-time change of the phone number linked to their BVN and requires financial institutions to place BVNs linked to suspected fraudulent transactions on a temporary watch-list for up to 24 hours while investigations are carried out.
The stricter rules contrast with last year’s surge in registrations, which was largely driven by the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative that enabled Nigerians in the diaspora to complete BVN enrolment remotely, removing physical barriers and expanding access to the financial system.
Launched on February 14, 2014, the BVN scheme was introduced by the CBN in collaboration with the Bankers’ Committee, NIBSS and German technology firm Dermalog to assign every bank customer a unique biometric identity that can be verified across Nigeria’s banking industry.
