Access Bank, one of Nigeria’s major banks, has named a temporary replacement for the late CEO Herbert Wigwe. He tragically passed away in a helicopter crash last Friday. Bolaji Agbede, the most senior founding executive director at Access Bank, takes the CEO position on an interim basis. The bank’s parent company, Access Holdings Plc gave the statement. With nearly 30 years of experience in banking and business consultancy, Ms. Agbede has served at Access Bank since 2003. Hence qualifies to take over the leadership currently.
Upon her appointment, Agbede was the most senior founding executive director overseeing business support at Access. Majorly, she focused on filing to the Nigerian Stock Exchange. The approval of this appointment is pending from the central bank, the bank mentioned. With nearly three decades of experience, Agbede served as Access’s head of human resources from 2010 to 2022. She holds a bachelor’s degree in mathematics and statistics from the University of Lagos. She also has an MBA from Cranfield University in the UK.
As of June, Access boasted a total asset base of 20.9 trillion naira ($14 billion). It operates in 20 countries, including the United Arab Emirates and the UK. Additionally, it maintains four representative offices in China, India, Lebanon, and France.
Herbert Wigwe Helicopter Crash
Wigwe’s helicopter, on a chartered journey from Palm Springs to Boulder City in Nevada, USA, crashed about 96km (60 miles) from Las Vegas.
As per reports from Nigerian media, the 57-year-old banker was en route to Las Vegas. He intended to attend the Super Bowl on Sunday. Wigwe established Access Bank in 1989. The bank attained the status of Nigeria’s largest bank in 2018 following its acquisition of the main competitor, Diamond Bank.
Wigwe, along with business partner Aigboje Aig-Imoukhuede, purchased Access in 2002. He assumed the role of CEO in 2014, succeeding his partner. Under his leadership, the bank pursued a robust growth strategy. They focused on local and foreign acquisitions, facilitating African connectivity in trade and payments. It also included mitigating risks in the Nigerian market.
Will Bolaji Agbede the new CEO of Access Bank fit into the shoes of Herbert Wigwe? Time will tell. We wish her all the best and success in the new position.