From Banker to Industry Leader: The Herbert Wigwe Story of Ambition, Friendship, and Legacy 

By Dr Kreeno

Can friendship and business ever truly mix? It’s a question that has derailed countless partnerships, but for Dr. Herbert Wigwe and Aigboje Aig-Imoukhuede, the answer wasn’t just “yes”—it became the foundation of a banking revolution. Their journey from colleagues at Guaranty Trust Bank (GTBank) to architects of Nigeria’s largest financial institution, Access Bank, is a masterclass in balancing personal bonds with professional ambition. Let’s dive into the Herbert Wigwe career journey, a tale of audacity, leadership, and a friendship that reshaped African banking.  

Herbert Wigwe Career Journey: The Early Days of a Visionary 

Herbert Wigwe’s story begins not in a boardroom, but in the meticulous world of numbers. After graduating with a degree in Accounting from the University of Nigeria, Nsukka, he cut his teeth at Coopers & Lybrand Associates (now part of PricewaterhouseCoopers), earning his Chartered Accountant designation by 1989. This early training instilled in him a razor-sharp analytical mindset—a skill that would later define his leadership.  

By 1991, Wigwe joined GTBank, a rising star in Nigeria’s banking sector. Here, he managed high-stakes portfolios for multinational corporations and financial institutions, quickly ascending the ranks. At just 32, he became GTBank’s Executive Director, a testament to his knack for strategic thinking and risk management. But it was during these formative years that Wigwe forged a partnership that would change his life—and Nigerian banking—forever.  

The Bold Leap: Acquiring Access Bank

In 2002, Wigwe and his longtime friend Aigboje Aig-Imoukhuede made a move that stunned the industry: they acquired Access Bank, then a struggling institution ranked 65th in Nigeria. Critics called it reckless, but the duo saw potential where others saw peril. “We didn’t buy a bank; we bought a vision,” Wigwe later reflected.  

The numbers backed their gamble. Within a year, Access Bank’s balance sheet grew by 100%, and it posted a profit before tax of ₦1 billion —surpassing its cumulative profits from the previous 12 years. This wasn’t luck; it was the result of meticulous planning, relentless execution, and a shared belief in the bank’s untapped potential.  

Major Milestones: Building a Banking Empire 

Under Wigwe’s leadership, Access Bank transformed from an underdog into a continental powerhouse. Here’s a snapshot of their meteoric rise: 

Key milestones include:  
- 2014: Wigwe became Group MD/CEO, steering the bank toward digital innovation and customer-centric services.  
- 2018: The landmark merger with Diamond Bank, creating Nigeria’s largest bank by customer base.  
- 2022: Transitioning to a Non-Executive Director role, cementing Access Bank’s sustainability ethos.  

This growth wasn’t accidental. As Wigwe once said, “Excellence is deliberate.”

Dr. Herbert Wigwe Leadership: Principles That Forged Excellence 

What defined Wigwe’s leadership style? A blend of intellectual rigor and emotional intelligence. Here’s how he built a culture of excellence:  

1. Embrace Risk, But Calculate It: The Access Bank acquisition was risky, but Wigwe and Aig-Imoukhuede spent months analyzing financials and market gaps.  
2. Invest in Knowledge: With degrees from Harvard and Cambridge, Wigwe championed continuous learning. He often quoted, “Your mind is your greatest asset.”  
3. Long-Term Vision, Short-Term Wins: While planning decades ahead, he ensured quarterly targets aligned with broader goals.  
4. Empower Teams: Wigwe decentralized decision-making, fostering innovation across all levels.  

His leadership extended beyond banking. As founder of Wigwe University, he aimed to redefine African education, proving his belief that “leadership starts with nurturing minds.”  

Friendship and Business Partnership: How They Made It Work

The Wigwe-Aig-Imoukhuede partnership is legendary, but how did two friends avoid the pitfalls of mixing business with personal ties?  

1. Complementary Skills: Aig-Imoukhuede focused on mergers and acquisitions, while Wigwe mastered risk management.  
2. Clear Boundaries: They agreed early to separate boardroom debates from personal interactions.  
3. Shared Values: Both prioritized integrity and long-term impact over quick profits.  
4. Trust Through Transparency: Regular, candid conversations prevented resentment.  

In a 2020 interview, Aig-Imoukhuede remarked, “Herbert and I never competed; we completed each other.” 

Back to square one
The two gentlemen's "corporate bromance" in its present shape even with the transition to glory of on eof the brothers, began in the early 2000s when the Board of Access Bank Plc was striving to reposition the bank onto its path towards greatness. Aig-Imoukhuede and Wigwe both happened to be relatively young and vibrant at that point in time. And both of them played a principal role in actualising the imperative work of reviving the bank.

In 2002, Mr Aigboje Aig-Imoukhuede was made the CEO of the bank. And with help from Mr Wigwe and other members of the management team, Access Bank Plc was transformed into a leading bank.

People doubted them
As you can imagine, such a transformation work for converting Access Bank Plc to its present shape could not have been an easy one. And that no one even believed in its leaders who initiated such a transformation could not have increased its difficulty level.

Some years ago, Dr Wigwe, then Group CEO of Access Bank Plc narrated about how everyone questioned them for no apparent reason, simply because they were young. Nobody could have predicted that their working together would yield fruit. And for that, even a part of them refused to work with them in their ventures.

Two brothers in business This is not the first time that Dr Wigwe refers to Mr Aig-Imoukhuede as a brother. In the same aforementioned interview, he did so too.

“My partner and my brother shared a lot in common with me. What he dreamed about was precisely a reflection of what I actually desired for myself. As soon as the idea was mentioned by him, it took no time for both of us to say, Let’s go for it.” In 2014, Dr. Herbert Wigwe took over from Mr Aig-Imoukhuede as the new CEO of Access Bank Plc. He continued with positioning the bank for greatness, a case in point being its merger with Diamond Bank Plc, an exercise that positioned the bank as the largest retail bank in Sub-Saharan Africa.

Herbert Wigwe Legacy: Beyond Banking 

Wigwe’s impact transcends finance. He was a philanthropist, educator, and advocate for African development. His initiatives included:  
- HOW Foundation: Promoting youth education and healthcare.  
- Climate Advocacy: Pushing Access Bank to adopt green financing.  
- Arts Patronage: Supporting Nigerian artists to preserve cultural heritage.  

As Forbes Africa noted, his legacy is a “blueprint for leading with purpose.”  

Conclusion: Lessons for Aspiring Entrepreneurs 

Herbert Wigwe’s journey teaches us that:  
- Friendship and business can thrive —with clear roles and mutual respect.  
- Education is non-negotiable—stay curious, stay ahead.  
- Risk-taking is essential, but only when paired with research.  

For Wigwe, success wasn’t just about building a bank; it was about building a legacy that outlives him. As he once advised young entrepreneurs: “Dream big, but start small. And never stop learning.”  

Tomorrow, in Day 4, we will explore The Birth of a Banking Empire – The Access Bank Story 

This Week Long Tribute Is On behalf of The Access Nation: 

Dr. Ohio O. Ojeagbase, FICA, FIDR
Chief Private Investigator/CEO
Kreeno Debt Recovery and Private Investigation Agency
A Subsidiary of KREENO Holdings LLC, USA