Herbert Wigwe is a Nigerian entrepreneur and banker, best known as the Group Managing Director and Chief Executive Officer of Access Bank Plc, one of the largest banks in Africa. Born on August 5, 1966, in Ibadan, Oyo State, Wigwe has become a prominent figure in the Nigerian financial sector, with over 30 years of experience in the industry.
Early Life and Education
Herbert Onyewumbu Wigwe was born into a middle-class family in Ibadan, where he attended St. Gregory's College, Lagos for his secondary education. He then proceeded to the University of Nigeria, Nsukka, where he obtained a Bachelor's degree in Accounting in 1987. He also holds a Master's degree in Banking and Finance from the University of London, and an Executive MBA from the prestigious INSEAD Business School in France.
Career in Banking
Wigwe's career in banking began in 1989 when he joined Coopers and Lybrand Associates, a multinational professional services firm, where he worked for two years before moving on to Guaranty Trust Bank (GTBank). He spent 10 years at GTBank, rising through the ranks to become an Executive Director in charge of Institutional Banking, Treasury, and Financial Institutions. In 2002, he joined Access Bank as Deputy Managing Director and was appointed as the Group Managing Director and Chief Executive Officer in 2014.
Under Wigwe's leadership, Access Bank has experienced tremendous growth, becoming one of the top five banks in Nigeria and expanding its operations across Africa and beyond. In 2019, Access Bank merged with Diamond Bank, a move that further solidified its position as one of the leading banks in Africa.
Philanthropy and Social Impact
Aside from his success in the banking industry, Wigwe is also known for his philanthropic efforts and commitment to social impact. He is the founder of the Herbert Wigwe Foundation, which focuses on promoting education, healthcare, and empowerment for underprivileged individuals in Nigeria. The foundation has provided scholarships to hundreds of students and has also partnered with various organizations to provide healthcare services and skills training to rural communities.
Wigwe is also a strong advocate for women's empowerment and has implemented various initiatives within Access Bank to promote gender diversity and inclusion. In 2019, he launched the W Initiative, a program that provides financial and business support for female-owned businesses in Nigeria. This program has been highly successful, with over 8,000 women benefiting from it so far.
Accolades and Recognition
Wigwe's leadership and contributions to the banking sector have not gone unnoticed. He has received several awards and recognitions, both locally and internationally. In 2016, he was named African Banker of the Year by African Banker Magazine and was also named one of the 25 most influential CEOs in Nigeria by Forbes Magazine. In 2019, he was awarded the prestigious INSEAD Alumni Achievement Award in recognition of his outstanding achievements in the banking industry.
Challenges and Future Plans
Despite his success, Wigwe has faced his fair share of challenges in his career. In 2016, Access Bank faced a financial crisis due to the decline in oil prices, which affected the Nigerian economy. However, Wigwe's leadership and strategic decisions helped the bank weather the storm and come out stronger.
Looking to the future, Wigwe has expressed his commitment to continue driving Access Bank's growth and expansion across Africa. He also aims to use his influence and resources to make a positive impact on society, particularly in the areas of education and women's empowerment.
Conclusion
Herbert Wigwe's life and career are a testament to the power of hard work, determination, and strategic leadership. From his humble beginnings in Ibadan, he has risen to become one of the most influential and successful bankers in Africa. Through his philanthropic efforts and commitment to social impact, he has also shown that success is not just about personal achievements but also about making a positive difference in the lives of others. As he continues to lead Access Bank to new heights, Wigwe's legacy will undoubtedly inspire many future leaders in Nigeria and beyond.
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