TRANSFORMING NIGERIA’S BANKING SECTOR
Mr. Herbert Wigwe, an eminent corporate banker and entrepreneur is a highly respected figure in Nigeria’s finance world. The visionary leader is the brain behind the success of Access Bank Plc, one of Nigeria’s top five banking institutions. Most importantly, he is contributing to the development of the country as an active philanthropist.
“AS THE CEO AND GROUP MANAGING DIRECTOR OF ACCESS BANK PLC, WIGWE IS REDEFINING THE DYNAMICS OF NIGERIA’S BANKING INDUSTRY WITH HIS VAST KNOWLEDGE AND EXPERIENCE. THE LEADER’S EXPERIENCE IN FINANCIAL SERVICES SPANS OVER 25 YEARS”
Born to parents of Ikwerre descent from Omueke Isiokpo, Wigwe studied Executive Management at Harvard Business School, and holds a master’s degree in Banking and International Finance from the University of North Wales. He also has a master’s degree in Financial Economics from the University of London, and a bachelor’s degree in Accounting from the University of Nigeria, Nsukka. In addition, he is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). Wigwe’s career began at Coopers & Lybrand as a management consultant where he got certified as a chartered accountant. Following a stint at Capital Bank, he spent more than a decade working in corporate and institutional banking at GTBank, where he served as executive director of institutional banking. Throughout his career, the leader has been instrumental in the development of some of Africa’s largest companies in the construction, telecommunications, energy, and oil & gas sectors, via a unique approach that involves understanding and providing financial and technical support.
AN INTERESTING BEGINNING
Wigwe and his business partner Aigboje Aig-Imoukhuede saw a golden opportunity in 2002 and took advantage of it by purchasing Access Bank, which was the 65th largest bank in Nigeria at the time. The visionary leader joined the Access Bank as Deputy Managing Director in 2002. He has been serving as the CEO and Group Managing Director of the bank since January 2014. Access Bank has thrived and grown into a top-tier, world-class financial institution under his stewardship. According to a 2015 report by The Banker magazine, Access Bank is currently one of Nigeria’s top five banks and is among the top 500 global banks. There are currently over 6.5 million account holders of the bank, who have access to its more than 600 branches and its 3,000 ATMs in Nigeria, Sub-Saharan Africa, and the U.K. Wigwe intends to make Access Bank Africa’s leading bank in the years to come.
Wigwe has also served as Chairman of Access Bank Ghana Limited, Access Investment and Securities Limited, and Central Securities and Clearing System (CSCS). The leader is currently the Chairman of Access Bank (UK) Limited.
As a tech-savvy leader, Wigwe is keen on investing in the new technologies available in the market to streamline banking processes. For instance, with robotic process automation (RPA), Access Bank delivers speed and excellence to its customers. This advanced technology enables over 70 processes to be performed while handling more than 15 million records on a daily basis. The new system has also substantially improved customer service, as evidenced by the timely resolution of customer complaints.
The Coronavirus pandemic evidently tested the leadership skills of many CEOs and executives. During this time of difficulty, many leaders failed to provide the necessary safety, support, and flexibility to their employees, but proactive leaders like Wigwe succeeded in pivoting successfully. Wigwe has built a dynamic team of dedicated employees that has exhibited maximum productivity despite working from home during the COVID-19 pandemic. In accordance with social distance norms, he made sure that the bank followed all necessary protocols and operated in the safest manner possible. Moreover, the technology and IT platforms in the bank have all been upgraded during the global health crisis to facilitate seamless remote work and customer service.
INSPIRING HUMANITY
Wigwe is well known for his active involvement and devotion to the local and global community. In 2017, he was named co-chair of the Nigerian Business Coalition against AIDS (NiBUCCA), an organisation committed to fighting HIV in Nigeria and supporting HIV patients.
The compassionate leader also founded The HOW Foundation, a non-profit organisation, in 2016. Not only does the Foundation contribute to the global effort to eradicate malaria in Nigeria, but it is also involved in spreading awareness of prostate cancer at the national level. Additionally, it initiates campaigns to support youth from underserved backgrounds.
In the same year, Wigwe was appointed State Patron for Lagos State Council by the Boys’ Brigade (BB) for his outstanding role in society and contributions to youth development.
Additionally, in response to a global call for corporate participation in resolving mankind’s major challenges, Access Bank under his leadership launched The Access Conference in 2013, a biennial thought-leadership series. The 2013 edition’s theme was ‘Sustainable Leadership,’ wherein Wigwe, along with George W. Bush, Nicolas Sarkozy and John Kufuor, discussed the significance of leadership for nation-building and corporate success.
Wigwe also hosted prominent global leaders at the 2015 edition, including Steve Wozniak, NR Narayana Murthy, and others to discuss the topic of ‘Leading in a Transformational World – the Imperative of Innovation.’
What’s more, Wigwe, Access Bank and UNICEF have partnered in order to provide support to orphans, vulnerable children and other displaced persons living in the northern part of Nigeria. As a way of bringing awareness to this cause, the bank, under his direction, organises the high-profile annual Access Bank/UNICEF Charity Shield Polo tournament every year.
Last but not least, upon the outbreak of the COVID-19 epidemic, Wigwe led the Bank to launch the COVID-19 Crisis Coalition (CACOVID) in collaboration with other private sector leaders to address the COVID-19 crisis. The initiative was funded with a donation of N1 billion by the leader.
WINNING TOP LAURELS
Wigwe was honoured with the CEO of the Year award at the BusinessDay Banking awards in Lagos. The leader has also been named 2016 Banker of the Year by two of the country’s leading newspapers, The Sun and Vanguard. Wigwe is also a gifted orator whose speaking engagements have taken him around the world, most recently to the Financial Times summit in Mozambique and the Silicon Valley summit in 2017. In January 2015, the flamboyant leader was described as one of Nigeria’s stylish top executives by Nigerian newspaper The Punch. Wigwe is married to Chizoba Wigwe and the couple has four children: Chizi, Tochi, Hannah and David.
