Connect with us

General

Emotions Pour as Dignitaries Eulogise Late Herbert Wigwe

Published

on

Profile of Herbert Wigwe

By Adedapo Adesanya 

It was an emotional rollercoaster at the tribute event held on Monday night to celebrate the late group chief executive of Access Holdings Plc, Mr Herbert Wigwe.

Dignitaries from government, corporate organisations, and royalty paid tribute to the late titan who died alongside his wife, son, and a former group chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbajo, on February 9 in the United States.

The event which was monitored by Business Post was divided into six segments – Young Hebert, the banker, the entrepreneur, the CEO, the builder and the ambassador.

These personalities relished adventurous and courageous stories from Wigwe’s early childhood and later his successful sojourn and success stories from GTBank and later the acquisition of Access Bank.

A friend of the deceased, Mr Aliko Dangote, was in tears as well as Mr Aigboje Aig-Imoukhuede, his long-term business partner and co-founder of Access Bank and Mr Femi Otedola, in an emotion-laden voice, also expressed the qualities of Mr Wigwe.

Governor Dapo Abiodun of Ogun, who first spoke for the governors reiterated his encounter with the late banker.

“It is a tough season for all of us,” Mr Abiodun said, noting that “words were not enough to describe how larger than life Wigwe was as he achieved so much within a short lifetime.”

“Herbert was loyal to his friends, way ahead of his time ever forward-looking,” he stated.

He said Mr Wigwe believed in the country Nigeria, and he was patriotic, adding that he met him about 30 years ago and thanked Wigwe for believing in him and being supportive of his programmes and projects.

He also said the projects included Gateway International Airport and the Epe/Ijebu-Ode Road projects, among others.

He described Mr Wigwe as a bridge builder, selfless, bold and courageous. He said it still felt like a bad dream that Herbert was gone, saying he was happy he honoured the invitation to see Mr Wigwe’s new home.

He disclosed that Mr Wigwe had a street named after him in Beirut, the capital of Lebanon saying, “he lived more than a life in one lifetime.

In an unprepared speech, Governor Babajide Sanwo-Olu of Lagos narrated his last conversation with Wigwe on Thursday, February 8, where lofty ideas were discussed.

“This was the last conversation that I will keep on my phone for a long time,” he said.

He promised to immortalise the late founder of Access Bank, Dr Herbert Wigwe, who was born at the Island Maternity Hospital in the state.

He said that Wigwe was a man who always had good stories and supported several projects of his administration driving him to take up new challenges.

“Herbert was one of the very first people that supported my ambition generously,” he added.

He said it was unbelievable how a man could give so much, including his words of encouragement. Sanwo-Olu revealed how Wigwe collaborated with other partners to cushion the effects of COVID-19 during the dreaded global pandemic.

“Herbert led from the front, encouraged and stood with the state government. I have indeed lost a big friend,” he added.

He said Mr Wigwe and Mr Aigboje Aig-Imoukhuede, the former group managing director of Access Bank, took a trip with him to Cairo to pursue visions of Lagos.

He also said Mr Wigwe had a special history of Isale Eko, and Lagos would immortalise him, haven being born in Island Maternity Hospital.

He said if places of birth mattered, Mr Wigwe should be of Isale Eko origin, noting, “Herbert has transcended beyond borders.

“Lagos will not forget Herbert Wigwe. We will support the family,” he said.

The Minister of Finance, Mr Wale Edun, narrated Mr Wigwe’s contributions to sports and various sectors, including supporting his personal and family visions.

“Herbert gave me his time and thinking, what I valued most; the man is never short of ideas,” he noted.

Mr Olayemi Cardoso, the Governor of the Central Bank of Nigeria(CBN), lauded Mr Wigwe’s hard work, broad knowledge base and role in shaping banking reforms further.

He said that Mr Wigwe’s commitment to reform and his genuine concern for the well-being of Nigerians garnered significant recognition.

The CBN Governor said he and the deceased recently discussed the way out of the country’s economic impasse, adding that the banker’s demise had left a vacuum in the banking sector and the economy.

On his part, the former CBN Governor, Mr Lamido Sanusi, emphasised the immense value of Wigwe’s contributions and the challenges that could arise in finding a suitable replacement.

Mr Sanusi recognised Mr Wigwe’s influence and the long-lasting imprint of his work, saying that further solidified the remarkable nature of his contributions.

For Mr Ibrahim Dankwambo, the former Senator for Gombe North and former governor of Gombe State, eulogised saying “from Him we come, to Him we shall return” and reeled out good times with the late founder, saying he was handed over to him as a brother by his father.

Mr Dankwambo, a former Accountant-General of the Federation, shared hilarious moments and described Mr Wigwe as a detribalised Nigerian.

Tributes of President Bola Tinubu, former President Olusegun Obasanjo, President Emmanuel Macron of France, and former US President Bill Clinton were read at the event.

Also, friends, associations, professional colleagues, Access Bank management from Nigeria, Ghana, and the UK as well as staff took turns to eulogise the patriotism, friendship, and mentorship qualities of Wigwe.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

General

Supreme Court Empowers Tinubu to Declare Emergency Rule, Suspend Elected Officials

Published

on

supreme court Nigeria

By Adedapo Adesanya

The Supreme Court has upheld the power of the President to declare a state of emergency in any state to prevent a breakdown of law and order or degeneration into a state of chaos or anarchy.

In a split decision of six-to-one, the apex court held that the President, during a state of emergency, can suspend elected officials, but within a limited period.

In the lead majority judgment, Justice Mohammed Idris held that Section 305 of the Constitution empowers the President to deploy extraordinary measures to restore normalcy where emergency rule is declared.

Justice Mohammed Idris noted Section 305 was not specific on the nature of the extraordinary measures, thereby granting the President the discretion on how to go about it.

The judgment was on the suit filed by Adamawa State and 10 other Peoples Democratic Party-led states challenging the propriety of the state of emergency declared by President Bola Tinubu in Rivers State, during which elected state officials, including Governor Siminalayi Fubara, were suspended for six months.

On March 18, President Tinubu declared a state of emergency in Rivers State following a reported attack on crude oil pipelines; and in the same breath, suspended the sitting governor and his deputy, Mrs Ngozi Odu. He then put in place a sole administrator.

This was challenged at the apex court by some states.

Justice Idris, in the earlier part of the judgment, upheld the preliminary objections raised by the two defendants against the competence of the suit.

In upholding the objections raised by the Attorney General of the Federation (AGF) and the National Assembly (the defendants), Justice Idris held that the plaintiffs (the 11 PDP states) failed to establish any cause of action capable of activating the original jurisdiction of the apex court.

He struck out the suit for want of jurisdiction, proceeded to also determine the case on the merits, and dismissed it.

However, Justice Obande Ogbuinya dissented and held that the case succeeded in part.

Among others, Justice Ogbuinya held that although the President could declare a state of emergency, he cannot use such powers as a tool to suspend elected state officials, including governors, deputy governors, and members of parliament.

Continue Reading

General

AI in Agriculture, Retail Sectors May Lead to Double Digit Growth by 2035

Published

on

ai in agriculture

By Adedapo Adesanya

High-impact sectors, including agriculture, wholesale and retail, will see double digit increases with the integration of artificial intelligence (AI) across Africa by 2035.

This is according to a new report by the African Development Bank (AfDB) developed under the G20 Digital Transformation Working Group, Africa’s AI Productivity Gain: Pathways to Labour Efficiency, Economic Growth and Inclusive Transformation, which establishes a strategic roadmap for unlocking the economic and social potential of AI across the continent.

The study, carried out by consulting firm Bazara Tech, finds that inclusive AI deployment could generate up to $1 trillion in additional GDP by 2035 equivalent to nearly one-third of the continent’s current economic output.

The report added that this is underpinned by Africa’s growing digital capacity, favorable demographics, and ongoing sectoral reforms, making it one of the most promising regions for AI-driven growth globally.

According to the report the AI dividend is expected to be concentrated in select high-impact sectors, rather than spread evenly across Africa’s economy. Analysis identified five priority sectors—agriculture (20 per cent), wholesale and retail (14 per cent), manufacturing and Industry 4.0 (9 per cent), finance and inclusion (8 per cent), and health and life sciences (7 per cent)—which together are projected to capture 58 per cent of the total AI gains, or approximately $580 billion by 2035. These sectors combine economic size, readiness to adopt AI, and strong potential to deliver inclusive development outcomes.

“We have set out the key actions in this report, identifying the areas where initial implementation should be focused,” said Mr Nicholas Williams, Manager of the ICT Operations Division at AfDB.

“The bank is ready to release investment to support these actions. We expect the private sector and the government to utilize this investment to ensure we achieve the identified productivity gains and create quality jobs,” he added.

The report also revealed that realising the potential of AI depends on five interlinked enablers: data, compute, skills, trust, and capital. Reliable and interoperable data forms the foundation for AI insights, while scalable compute infrastructure ensures solutions can be deployed efficiently across the continent.

It noted that a skilled workforce is essential to develop, implement, and maintain AI systems, and trust built through governance, and regulatory frameworks underpins adoption.

The report also noted that the enablers, together with adequate capital investment to de-risk innovation and accelerate deployment, would “foster a cycle of AI-driven growth.”

The report also outlines a three-phase roadmap toward Africa’s AI readiness: ignition (2025-27), consolidation (2028-31) and scale (2032-35).

“Achieving early milestones by 2026 will set Africa’s AI flywheel in motion,” said Mr Ousmane Fall, Director of Industrial and Trade Development at the bank. “Africa’s challenge is no longer what to do — it is doing it on time.”

Continue Reading

General

Crude Oil Tanker Seized Near Venezuela Not Registered in Nigeria—NIMASA

Published

on

MV Skipper

By Adedapo Adesanya

The Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified that the crude oil vessel, MV Skipper, intercepted by the United States Coast Guard, in collaboration with the US Navy for its alleged involvement in crude oil theft and other transnational crimes is not registered in Nigeria.

NIMASA said the Very Large Crude Carrier (VLCC) SKIPPER with IMO Number 9304667 is not a Nigerian-flagged vessel, and its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.

An analysis of the vessel’s movement carried out NIMASA through its Command, Control, Communication, Computers and Intelligence (C4i) Centre showed that the facility was last sighted on Nigerian waters on July 1, 2024.

“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the US interdiction eventually took place.

“Records indicate that SKIPPER, which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.

The Director General of NIMASA, Mr Dayo Mobereola, reaffirmed the agency’s commitment to collaborate with all relevant stakeholders, including US authorities, in the ongoing investigations, noting that in a statement that criminality will not be tolerated on Nigerian waters.

Last week, US forces seized an oil tanker carrying a Panama flag believed to be the VLCC Skipper, after satellite imagery showed the vessel secretly loading over 1.8 million barrels of sanctioned Merey crude at Venezuela’s José Terminal.

The vessel had been transmitting falsified AIS positions during the operation, a tactic increasingly used by “dark fleet” tankers tied to Venezuelan and Iranian trades. It was later revealed that the seized tanker Skipper, was carrying crude contracted by Cubametales, Cuba’s state-run oil trading firm.

The seizure of the sanctioned oil tanker has sharply escalated tensions between the US and Venezuela. The US government also said it is preparing to intercept more ships transporting Venezuelan oil.

Continue Reading

Trending