The Second Coming of Aigboje Aig-Imoukhuede to Access And What It Means For The Group

Following the Death of Dr. Herbert Wigwe, Access Holdings Re-Appoints Mr. Aigboje Aig-Imoukhuede as New Non-Executive Chairman, to guide the Group towards continued prosperity.

 

In the last few weeks, global attention has shifted towards Access Holding – the parent company of Access Bank PLC, following the sad demise of its CEO, Dr. Herbert Wigwe.

Like many other visionary leaders, the death of Dr. Wigwe sent shockwaves across the company’s hierarchy, especially as there appeared to be no concrete succession plan in place – one that some critics argue exposes a lacuna in the operational structure.

So, it was expected that the Board of Directors of Access Holdings would look inward in getting a replacement for Dr. Wigwe, maybe not in the same portfolio, but in terms of the tenacity and leadership doggedness which Wigwe was known for. In a brief statement, the company has announced its decision to re-appoint its co-founder and former CEO, Mr. Aigboje Aig-Imoukhuede as its chairman. “Following extensive consultations with key stakeholders, the Holdco board decided to invite Mr Aig-Imoukhuede to the helm of governance”, the statement read.

It is now official, and Access Holdings Plc is delighted to announce the appointment of Mr. Aigboje Aig-Imoukhuede, CFR, as its new Non-Executive Chairman. The appointment saw Mr. Abubakar Jimoh, who served as the former Chairman, move to become an Independent Non-Executive Board Director.

According to reports, Mr. Aig-Imoukhuede brings with him a wealth of experience, a proven track record of success, and unparalleled leadership skills, positioning him as the ideal candidate to steer the Group towards a new era of prosperity.

Following the unfortunate passing of the previous Group Chief Executive Officer, Dr. Herbert Wigwe, CFR, the Holdco Board conducted extensive consultations with key stakeholders and unanimously decided to appoint Mr. Aig-Imoukhuede to lead the organization.

With a distinguished career spanning decades in the banking and finance industry, Mr. Aig-Imoukhuede has established himself as an exceptional and influential leader. During his tenure as Group Chief Executive Officer of Access Bank from 2002 to 2013, alongside his late deputy, Dr. Herbert Wigwe, CFR, he played a pivotal role in laying the foundation for the bank’s success.

Under Mr. Aig-Imoukhuede’s leadership, Access Bank experienced unprecedented growth, emerging as one of Nigeria’s top 5 banks and expanding its presence to 9 other African countries and the United Kingdom. 

The bank’s customer base grew from ten thousand to over six million, with a workforce of more than 5,000 employees and assets totaling USD $12 billion. His strategic vision, innovative approach, and profound market insights were instrumental in shaping Access Bank’s trajectory.

Since retiring as CEO in December 2013, Mr. Aig-Imoukhuede has continued to make significant contributions to the financial sector. He co-founded the Tengen Family Office Limited, overseeing diverse investments in banking, finance, insurance, technology, real estate, and energy.

Additionally, through the Aig-Imoukhuede Foundation, he remains dedicated to grooming Nigeria’s future government leaders, enhancing public sector effectiveness, and improving access to quality healthcare.

The decision to appoint Mr. Aig-Imoukhuede as Non-Executive Chairman underscores the Board’s commitment to upholding the organization’s core values and building upon the strong foundation established by him and Dr. Wigwe. 

His return signifies Access Holdings’ intention to leverage his extensive expertise, industry knowledge, and exemplary leadership qualities to sustain the growth trajectory set under Dr. Wigwe’s leadership.

In his new capacity, Mr. Aig-Imoukhuede will collaborate with the Board of Directors to shape strategy and provide guidance to the executive management team. His reinstatement not only reflects his enduring dedication to Access Group but also demonstrates the Board’s confidence in his ability to lead the organization to greater heights.

In response to Mr. Aig-Imoukhuede’s re-appointment as the former Chairman of Access Holding, Mr. Abubakar Jimoh conveyed his enthusiasm in a brief statement, expressing:

“Mr. Aig-Imoukhuede’s appointment to the Board and subsequent election as Chairman is a landmark development for Access Holdings. All our board members are excited about our future’’.

Mr. Jimoh possesses extensive expertise spanning over 25 years in the financial services sector, encompassing areas such as client relationship management, treasury operations, market risk assessment, credit risk management, operational risk management, as well as project and portfolio management. 

Notably, he served as the Group Managing Director of Trustbanc Group, a prominent investment management firm. His selection as the former Chairman of Access Holding followed his instrumental role in revitalizing Associated Discount House (ADH), transitioning it from a struggling Discount House to a thriving Merchant Bank (Coronation Merchant Bank Ltd).

In response to his re-appointment, Mr. Aig-Imoukhuede enthusiastically conveyed his commitment to guiding the Access Group forward on the right trajectory, emphasizing:

“I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders. I am determined that our shared vision which Dr. Wigwe gave everything for, will be realized”.

Recall that Dr. Wigwe, along with five others, tragically passed away on February 9, 2024, following a helicopter crash near Nipton, California. The victims included his wife, Doreen Chizoba Wigwe, their son Chizi Wigwe, former Nigerian Exchange Group Plc Chairman Abimbola Ogunbanjo, and two crew members. They were laid to rest on Saturday at their ancestral home in Isiokpo, the headquarters of Ikwerre Local Government Area in Rivers State.

In a recent report, it was highlighted that the entire Access Group family, comprising employees, customers, and stakeholders, eagerly awaits Mr. Aig-Imoukhuede’s return and anticipates a promising future under his leadership. With his expertise, dedication, and commitment, the Access Group is poised to embark on a new phase of impact and sustainable success.