Herbert Onyewumbu Wigwe CFR was a Nigerian banker, businessman co-founder, and visionary leader of Access Bank Plc. He lost his life in a helicopter crash in Halloran Springs, California, on February 9, 2024. His death marked the end of an era for one of Nigeria’s most influential figures.
Herbert Wigwe, 57, was not just a top banker and entrepreneur; he was the driving force behind the transformation of Access Bank from a modest institution on a Lagos street corner into a financial powerhouse with a global footprint.
Together with his friend and business partner, Aigboje Aig-Imoukhuede, Wigwe embarked on a journey in their mid-30s that saw them turn a small bank into an African conglomerate.
CFO at Standard Chartered Bank in Lagos, Dayo Omolokun, aptly described them as “representatives of the young generation of Nigerians,” inspiring countless young professionals in the banking industry.
Impact and Legacy
In the annals of Nigerian banking, Herbert Wigwe’s legacy stands as a testament to vision, resilience, and transformative leadership. Access Bank, under Wigwe’s leadership, achieved a total asset base of 20.9 trillion naira ($14 billion), operating in 20 countries globally.
The growth was built on a strategy that included several acquisitions, such as the successful mergers with Intercontinental Bank in 2011 and Carlyle-Backed Diamond Bank in 2018.
Beyond the numbers, Herbert Wigwe was known for setting ambitious targets and fostering a culture of excellence. His leadership style propelled Access Bank to the forefront of the Nigerian banking sector, earning the respect and admiration of peers and competitors.
The untimely loss of Herbert Wigwe leaves a void in Access Bank and the hearts of those who knew him. His legacy extends beyond business achievements; it includes philanthropic efforts, such as the establishment of Wigwe University, to foster education and development in his community.
Wigwe’s commitment to education was not just a vision on paper. In the last few years, he dedicated his time to a university project in his village, nurturing the skills needed for the finance and technology industries in Nigeria.
Tragic Plane Crash
The tragic plane crash resulted in the death of six individuals, including Herbert Wigwe, the chief executive of Access Bank, along with his wife Chizoba, son Chizi, former Nigeria Stock Exchange chairman Abimbola Ogunbanjo, and pilots Blake Hansen and Benjamin Pettingill.
The National Transportation Safety Board (NTSB) is yet to figure out the cause of the accident. However, a report released by the NTSB stated poor weather conditions as a significant cause of the crash. The NTSB stated,
“According to law enforcement, several witnesses who were traveling in vehicles on I-15, called 911 to report observing a ‘fireball’ to the south. The witnesses reported the weather conditions in the area were ‘not good’ and raining with a snow mix.”
Despite all major components being found, the fuselage was fragmented, and the cockpit and cabin were destroyed. The wreckage was discovered in mountainous desert terrain near Halloran Springs, California, displaying a scattered debris pattern.
Wigwe’s passing was met with a deep sense of loss and sympathy expressed by various leaders, colleagues, and friends.
