Herbert Onyewumbu Wigwe is a 57 year-old Nigerian banker and the CEO of Access Bank PLC. His net worth is over $78.1 million, although this has not been officially confirmed. Born on the 15th of August 1966, Herbert is known for his successful career in the financial sector.
Wigwe displayed an early aptitude for business and finance, earning a Bachelor’s degree in Accountancy from the University of Nigeria, Nsukka, and an MA in Banking and Finance from the University College of North Wales. Wigwe’s career in banking began at Guaranty Trust Bank, where he quickly rose through the ranks, demonstrating his keen business acumen and strategic thinking. In 2002, he co-founded Access Bank alongside Aigboje Aig-Imoukhuede and played a pivotal role in shaping the bank into one of Africa’s leading financial institutions.
How Old Is Herbert Wigwe, and Where Is He From?
Herbert Wigwe is 57 years old and was born on 15th August 1966 in Ibadan, Oyo State, Nigeria. He is from the Ikwerre local government area of Rivers State, Nigeria. His father is Pastor Shyngle Wigwe, a retired director-general at Nigerian Television Authority (NTA), and his mother is a Nurse. He has four siblings, three sisters – Stella, Joyce, and Peggy, and a brother – Emeka. Wigwe grew up and resides in Lagos State Nigeria with his family.
Herbert Wigwe Schooled in Nigeria and Overseas
The entrepreneur had his early and primary education in Ibadan. He then attended Federal Government College Sokoto before moving to Federal Government College Warri for his secondary education. He left secondary school in 1982. For his university education, Wigwe attended the University of Nigeria, Nsukka, where he graduated in 1987 with a Bachelor’s degree in Accountancy.
Not done, he moved to the University College of North Wales, where he obtained an MA in Banking and Finance. He also acquired an MSc. in Financial Economics from the University of London. Wigwe further attended Harvard Business School, where he studied an Executive Management Program. In addition to his career in the banking sector, Herbert has revealed his plans to acquire a Law degree.
Herbert Wigwe Was a Pioneer Staff of Guaranty Trust Bank
After completing his education, Herbert Wigwe joined Coopers & Lybrand Associates, a professional services firm, where he gained valuable experience in accounting and auditing. Then he worked briefly at Capital Bank before moving to Guaranty Trust Bank.
In the early 1990s, Wigwe joined Guaranty Trust Bank (GTBank) as a pioneer staff and rose through the ranks to become an executive director of the bank. During this time, he played a significant role in the restructuring and development of the bank, helping it become one of the leading financial institutions in Nigeria.
He Co-Founded Access Bank in 2002
In 2002, Wigwe joined hands with his friend Aigboje Aig-Imoukhuede to acquire Access Bank, a small company and built it into the brand we have today. He started as the bank’s Deputy Group Managing Director. Then he became the Managing Director (MD)/Chief Executive Officer (CEO) in 2014. At Access Bank, he has been instrumental in expanding the bank’s reach and operations in Nigeria and internationally.
Under Wigwe’s leadership as Group Managing Director and CEO, Access Bank has achieved remarkable growth and transformation. He spearheaded several strategic initiatives, including successful acquisitions and mergers, expansion into new markets, and the implementation of innovative digital banking solutions.
The bank’s customer base has also expanded, focusing on providing innovative banking services and products. Additionally, Wigwe has been involved in various social impact initiatives, particularly in the areas of education, healthcare, and entrepreneurship.
Recognized for his outstanding contributions to the Nigerian banking industry, Herbert Wigwe has received numerous awards and accolades. He is widely regarded as one of Nigeria’s most influential bankers and a key figure in the country’s financial sector. He continues to make significant strides in driving Access Bank’s vision of becoming the world’s most respected African bank while also actively supporting social and economic development initiatives across the continent.
What Is Herbert Wigwe’s Net Worth?
Herbert Wigwe’s net worth is estimated at over $78.1 million, although his official net worth has not been stated. In June 2023, he purchased an extra 50 million shares worth $14.58 million, making the total amount of stakes he owns at Access Bank a 9.9% stake. He has some other businesses that give him extra income.
The salary of the Access Bank CEO has a few fluctuations. Herbert Wigwe was paid a salary of N120 million in 2021 and N86 million in 2022. This irregularity may be down to how well the bank performed each year. The banker has other businesses and investments that are not open to the public.
He Gives Back to Society Through the HOW Foundation
Beyond his professional achievements, Herbert Wigwe is also known for his philanthropic endeavors and commitment to social development. He has supported various initiatives focused on poverty eradication, youth empowerment, and improving access to healthcare and education in Nigeria.
He founded the Herbert Onyewumbu Wigwe (HOW) Foundation in 2016 with a focus on education, health, and empowerment. Through this, he gives back to society. In addition to his philanthropy, Herbert established the W-Initiative under Access Bank to help women participate more in business. Other initiatives include Maternal Health Scheme, The NollyFund, Acess Bank/UNICEF Charity Shield Polo Tournament, Nigerian Business Coalition Against Aids (NiBUCCA), etc.
Wigwe founded a university called Wigwe University. It received a license from the Nigerian Universities Commission (NUC) on 9th June 2023. The university is located in his hometown, Isiokpo, Ikwerre, Rivers State. This is another means he uses to give back to society.
Herbert Wigwe Is Happily Married With Four Children
Herbert met his wife, Chizoba Wigwe, when she came to Nigeria for her National Youth Service Corp assignment. They met and were introduced to each other through a friend. The duo courted for not more than four months before getting married. In an interview, Wigwe revealed that it was easier for him because both his parents and hers knew each other.
Their union is blessed with four children, namely, Chizi, Tochi, Hannah, and David. Two of his children have followed his path in the line of his career. His first child and son Chizi Wigwe is an Asset Manager, while his first daughter Tochi Wigwe is a Finance Manager. They all studied outside of Nigeria and reside there, too.