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Tag: Herbert Wigwe

  • Access Bank CEO, Wigwe’s quiet achievements

    Managing a financial institution as big as Access Bank may look like a piece of cake but if one considers the banks that have run into trouble in the past years in Nigeria, one will start to appreciate the contributions of Herbert Wigwe to the banking industry and Nigeria as a whole.

    Wigwe, who is the Group Managing Director and Chief Executive Officer of Access, has done enough to be called an icon in the industry. The recent achievement was the successful merger of Diamond Bank with Access Bank, which made their operations bigger.

    When in 2002, Wigwe and his business partner, Aigboje Aige-Imoukhuede, acquired a small commercial bank, Access Bank, only a few would anticipate where the bank is today. But like prophets who see tomorrow, they both saw the future and grabbed it. Access Bank is now one of the biggest banks in Nigeria and its impact is felt beyond the shores of the country too.

    Since succeeding his business partner, Aig-Imoukhuede, in January 2014, the bank has grown in leaps and bounds. He has also helped to develop companies in the construction, telecommunications, energy and oil and gas sectors by providing financial support and expertise.

    Also, Wigwe, Access Bank and UNICEF, have a collaboration in place to offer support to vulnerable children, orphans and internationally displaced persons in the northern part of Nigeria.

    Married to Chizoba, he is blessed with four 4 children – Chizi, Tochi, Hannah and David.

  • Access Bank commits N1b to education

    GROUP Managing Director, Access Bank Plc., Herbert Wigwe, has reaffirmed the bank’s commitment to the educational development of children in Nigeria. The bank chief said the lender will be investing N1 billion in building educational infrastructure in Northern Nigeria.

    He said that education is one of the most important tools to sustaining the future of the country. Wigwe spoke while addressing attendees at the Access Bank/UNICEF Charity Shield Polo Tournament which held at the Guards Polo Club, United Kingdom.

    Nigeria currently holds the unenviable position of having the highest number of out-of-school children in the world. A problem that Wigwe said Access Bank, in collaboration with UNICEF, aims to solve using funds raised through the high profile polo tournament.

    He said, “The number of out-of-school children in Nigeria is very worrisome, and if not tackled adequately does not bode well for the future of Nigeria. Access Bank identified this problem over 10 years ago and through the polo tournament has made considerable strides in improving the educational system in Nigeria. We will not relent in our efforts to ensure that Nigerian children are given the requisite educational foundation to succeed. We know the challenge before us is great, but we will surmount it through collaboration with relevant international, government and private stakeholders. We will continue to give, because our children a“So far, we have been able to raise over N1 billion and every kobo will be invested providing educational infrastructure, starting one Northern state at a time because that is where we find the highest number of out-of-school and displaced children.”

    Wigwe went further to explain that government buy-in was key to the achievement of the financial institution’s set goals, citing and thanking the Kaduna State government for its support in the implementation of its projects.

    Access Bank is already making a telling impact through its charitable projects, recently completing the refurbishment of a 12,000 capacity school and is set to complete another that will cater for an additional 1,200 students at the end of July. These efforts have not gone unnoticed, as the Kaduna State government has committed to replicating every project that the bank will implement in the state.

    This year’s Charity Polo Tournament was a huge success with several local and international dignitaries in attendance including the Emir of Kano, Muhammadu Sanusi II; British High Commissioner to Nigeria, Catriona Laing CB, among others.

  • Access Bank Group CEO Wigwe reiterates passion for arts

    The Access Bank Group CEO, Herbert Wigwe has reiterated his support for the Born in Africa Festival. The festival aligns with one of his philosophies – a festival that takes all his experience as a mentor and collaborator to creators and his drive to create an industry that not only supports talent, but creates platforms that allow these talents shine.

    The Born in Africa Festival is another opportunity to redefine the industry’s standards of excellence and ask all the other banks if they are giving their best. If you attended or even heard about the Born in Africa Festival, then you already have your answer.

    For instance, in December 2018, over 10,000 young Nigerians gathered on the grounds of the new Eko Atlantic City. They wore distinctive bracelets, some received from an Access Bank branch, others won via promos on social media, still others bought outright through the many virtual sale platforms hosted by Access Bank.

    They had come for the Access Bank  ‘Born in Africa’  Festival, which was a celebration of all the homegrown talent the continent has nurtured and a promise of the future of immersive, integrated entertainment. Some were skeptical of the festival as there were already several events hosted by other banks with middling reviews.

    The question is what was Access Bank bringing that the others hadn’t? For one, they were bringing the stellar vision of the bank’s Managing Director/CEO, Herbert Wigwe. Herbert’s keen interest in creative arts was cultivated by his father, Pastor Shyngle Wigwe, a former director of the Nigerian Television Authority (NTA). His father ensured that Herbert understood that there are under-explored technical and business elements to any successful creative endeavor, knowing how to create a balance between an innovative product and a successful vehicle to market and profit from that product. Though Herbert himself never pursued a creative career, his interest in finding and sustaining that balance never waned.

    Only few people fully realize how much the creative industry in Nigeria has grown. It is easy to overlook the growth, to understate the collective triumphs of an industry that only two decades ago had become so stuck in a creative rut that many creators gave up their passions to return to the corporate lifestyle. One of the reasons for this decline was that the financial services industry couldn’t figure out, how to provide a framework that worked to keep the creative industry in business.

    As a global traveller, Herbert had experienced first-hand the convenience of having a physical presence in every city, and he sought to replicate that through a series of mergers with other banks whose business ethos complemented his vision. Those mergers allowed Herbert expand Access Bank’s reach across the country, eventually spreading into Ghana and seven other African countries. That influence would be spread even further as Herbert led the bank to become one of the country’s first financial institutions to actively embrace the integration of technology into their banking practices.

    With the problem of ease of access addressed, it was relatively simple for Herbert to tackle the other challenge faced by the creative industry. Convincing patrons to show their enthusiasm for creative work is hard enough with the constraints and frustrations of bureaucracy. For Herbert, it was important that the process was simplified in ways that kept the creator happy and the process simple for the customer. From the Access Bank apps to other alternative banking channels, all the barriers to painless transactions have been removed.

    Wigwe is widely known as a lover of arts, which is why he is so involved in the creative projects that Access Bank supports and sponsors, like the Ake Book and Arts Festival; the continent’s premier book festival; the Art X art fair, known as West Africa’s most prestigious art fair; and the African International Film Festival-West Africa’s most prestigious film festival. With an eye for winning initiatives, Access Bank lends support  both in technical, business terms and financial grants which allow these oases of creative effort thrive. Access Bank has also supported the Lagos City Marathon in partnership with the Lagos State Government.

    This is a complex project with several creators in the visual arts, architecture, printing, design and entertainment fields working together to make each edition, bigger and better than the last.

     

     

     

  • Breaking: Access Bank unveils new logo

    In conclusion of its merger with Diamond Bank, Access Bank Plc, has unveiled its new logo, signalling the commencement of a new enlarged banking entity.

    At an elaborate ceremony at the Eko Hotel and Suites, Lagos, dignitaries gathered to witness the birth of the new banking entity.

    The GMD of the new entity, Herbert Wigwe, thanked all present, especially Pascal Dozie, founded of the now rested Diamond Bank. In a remark, a former governor of CBN, Lamido Sanusi Lamido, praised the merger, saying it’s a good omen for the country.

     

    Details shortly.

     

  • Access Bank, Diamond Bank shareholders approve merger

    Shareholders of Access Bank Plc and Diamond Bank Plc on Tuesday unanimously approved the merger of both financial institutions aimed at creating a formidable force.

    The News Agency of Nigeria (NAN) reports that the shareholders gave the approval at an Extraordinary General Meetings (EGMs) of both banks held in Lagos.

    Mr Herbert Wigwe, Access Bank Chief Executive Officer, told the shareholders at the EGM that the merger with Diamond Bank enables Access Bank to acquire a bank with 17 million retail customers and the most viable mobile payment platform.

    Wigwe said that the expected revenue and cost synergies were material and promises significant long term value.

    Wigwe said the bank, after the merger, would attract more opportunities such as trade finance from international partners.

    “With the final merger of both banks and the status of the resulting entity as ‘the largest bank in Africa’s largest economy,’ this greatly bolsters the bank’s brand, opening doors of opportunity both in local and international markets,” he said.

    Wigwe said the merger was expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.

    “The resulting entity which will maintain the brand name Access Bank, but with Diamond Bank colors, will have more than 29 million customers, 13 million of which are mobile customers,” he said.

    Read Also: Kia partners Lagos, Access Bank on City Marathon

    Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.

    “As a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking multinational lenders with local intelligence,” he said.

    He said Diamond bank merging with “Access Bank also means, the former’s customers can enjoy access to the latter’s strong balance sheet, ubiquitous presence and solid operational structure.”

    “Diamond Bank has formidable retail business with the largest retail customer base in Nigeria – over 17 million customers. Diamond Bank also has a track record of customer acquisition and low cost liabilirties generation.

    “The enlarged Access Bank will serve 27 million retail customers, almost double the number customers of any other bank in Nigeria and more than any other bank in Africa, “ Wigwe said.

    He noted that the enlarged Access Bank’s breath scale and product range will further accelerate the financial inclusion agenda that Access Bank and Diamond Bank had pursued separately.

    Wigwe, however, assured enlarged shareholders of the bank that dividend would be more robust and consistent after the exercise.

    Mr Adebayo Adeleke of Independent Shareholders Association (ISAN) commended the management of Access Bank for not shortchanging shareholders on the scheme of the merger.

    “Quiet a lot of commendable things have been put in place and we hope court will have no other reason not to agree on the merger,” Adeleke said.

    Adeleke said that the shareholders were in support of the plan that would give birth to one of the largest bank in Africa.

    “We are here to make sure we sanction this wedding and hope to see a marriage of a formidable force,” he said.

    He said that shareholders would want to see the birth and growth of new bank that would take challenges and takeover the entire world.

    To the President, Trusted Shareholders’ Association of Nigeria (TSAN), Alhaji Muktar Muktar, “we thank Access Bank for saving us from Diamond Bank by giving us a good deal.

    Muktar said that the bank gave them the best deal which was above Diamond Bank price on the Nigerian Stock Exchange.

    Sir Sunny Nwosu, National Coordinator (Emeritus), ISAN, who also commended Access Bank for the merger, called for special dividend to cushion the effects of dilution on shareholders.

    Nwosu said integration would not be a problem for Access Bank because it had managed many “marriages” in the past.

    NAN

  • Access Bank CEO lists gains of technology in banking

    The Group Managing Director of Access Bank Plc, Herbert Wigwe, has re-emphasised the bank’s commitment to improving banking practices by leveraging technology.

    He stated this during his meeting with Satya Nadella, the Chief Executive Officer of Microsoft in Seattle, United States last Thursday.

    Access Bank recently announced a five-year strategic plan focusing on enhancing Africa’s position in the global community; and the meeting with Satya Nadella is a step in the right direction

    “Africa is experiencing a massive growth in wider access to and adoption of technology, especially in improving businesses processes and lifestyle as well as optimum use of resources. However, we still realise that there are still untapped and immense opportunities,  to provide essential and well-secured channels for transactions using technology to raise the standard of banking services in Africa, while understanding the socio-economic dynamics of the countries,” said Wigwe.

    Nadella said: “I want Microsoft to enable outfits like Access Bank to innovate digitally and grow their business exponentially.”

    He noted that only two entities are capable of being the Alibaba of Nigeria – A massive retail operation or a large financial institution. “We need partners like you who have deep ambition for exceptional customer service.”

    “We will be delighted to form a deeper relationship with Access Bank to drive innovation, and by extension exceptional customer experience in the African financial services space.”

    Access Bank through this partnership with Microsoft has already begun its five-year mission to enhance the perception of Africa by drawing the attention of the global community to the  indigenous products of Africans – their rich history, people, culture, art, and lifestyle – while providing channels where businesses can fully participate in commercial activities globally. The bank has consistently positioned itself to lead the innovation conversation among financial institutions by leveraging on technology to provide fast, secure, and reliable banking experience for customers within Nigeria and the African Continent.

  • Access Bank promotes easy banking experience on WhatsApp

    Access Bank deepened its commitment towards providing easy banking experience to customers. The lender is using WhatsApp social media platform to bring banking relationship managers closer to its customers.

    Customers can now use the Bank’s market leading and feature rich Mobile App, Access Mobile, available on IOS and Android platforms, to effortlessly engage their Relationship Manager in the provision of customised and responsive banking services, using the WhatsApp messaging platform.

    The service, which is first of its kind in the Nigerian Banking Sector and launched in April 2018, according to Access Bank GMD/CEO, Herbert Wigwe is in line with its vision to change the face of banking on the continent by leveraging innovation and technology, while ensuring that customers are provided with the opportunity to enjoy ease of access and engagement in their banking transactions and maximise their financial opportunities.

    Read Also: Access Bank wins sustainable finance award

    He stressed that the three core values – speed, service, and security – upon which the Bank remains steadfast, requires a high level of innovation and thought leadership which again is demonstrated with this WhatsApp feature.

    “Driving customer intimacy and providing engaging and convenient access to financial services across all channels remain a key focus area for us and we will continue to drive and implement solutions to provide a best in class service for our customers”, Wigwe stated.

    The WhatsApp banking tool for reaching Access Bank’s Relationship Officers is the latest in the series of innovative features championed by Access Bank. Several of these efforts, especially in the areas of customer experience, personal banking and sustainability have fetched recognitions and awards from local and international platforms, the most recent being the Karlsruhe and Euromoney awards.

  • Bank CEOs target 60m new customers by 2021

    Body of Bank Chief Executive Officers (CEOs) on Tuesday set a three-year target of 60 million new customers for all the lenders.

    The Chairman of Body of Banks CEOs, Herbert Wigwe, said the target is in line with the Central Bank of Nigeria (CBN) strategy of achieving 80 per cent financial inclusion by 2020 and take financial services closer to the people.

    Data from the Nigeria Interbank Settlement System (NIBSS) showed that banks lost over two million customers between 2016 and 2017.

    The number of active bank accounts dropped by 1.5 million within the period, from 65 million to 63.5 million.

    Achieving the new customer target will bring the total number of bank customers to 123.5 million by 2021.

    According to the new plan, the CBN and banks will over the next few months, roll out new initiatives, products and services to accelerate and deepen financial inclusion in Nigeria.

    The Body of Bank CEOs said access to a bank account is a first step toward broader financial inclusion since it allows people to store money, send money and receive payments.

    “Over the next three years, banks aim to on-board and formally bank 60 million additional Nigerians, an average of 20 million yearly as well as enroll 40 million Nigerians on Bank Verification Number (BVN). Hence, the new target will be on driving low cost digital access, broadening financial literacy campaigns, and creating micro loans, micro insurance, and micro investment products for the benefit of excluded, underserved and low income Nigerians,” Wigwe, who is also the Managing Director of Access Bank Plc, said.

    The CBN, banks, Licenced Mobile Money Operators, and Super Agents also agreed to roll out a 500,000 shared agent network to accelerate financial inclusion in Nigeria.

     

  • No drums rolled out as Herbert Wigwe clocks 51

    No drums rolled out as Herbert Wigwe clocks 51

    LIKE a seasoned war captain whose brave exploits are undersold in his time but will be told and retold for generations, Herbert Wigwe does not get near enough credit for his achievements. In a sea of mediocrity which is threatening to submerge all traces of vitality in Nigeria’s business space, the MD of Access Bank remains one of the few shining lights. An epitome of humility and resolve, he is as privately unassuming as he is a trailblazer in the business world.

    While many a man perched atop the mountain of his profession would declare a day of monumental fanfare to celebrate a new age, Herbert Wigwe remains as humble as a monk, untwined by the ropes of vanity that compel many a man to make a public display of self-adulation. As he turned 51 on August 15, the dynamic young man made no song or dance of the occasion. Rather, as has become his trademark, he celebrated the day quietly in the company of a few friends and family members.

    Since he stepped into the hot seat as the CEO of Access Bank, many who treated his name with scepticism have become his big fans, won over by the rapid innovation that has transformed the bank into one of the best-run around. The introduction of Africa’s first digital banking platform, Paywithcapture 5, is just one of the many innovations that have earned Wigwe the superstar billing in the banking industry.

  • Herbert Wigwe dazzles all

    Herbert Wigwe dazzles all

    It is true that not all that glitters is gold. But it is also true that not all that is gold glitters. Behind the fame of some people is an empty shell devoid of quality or depth while others endowed with quality prefer to make use of their genius away from the noisy gazes.  Access Bank MD, Herbert Wigwe, is the gold that glitters. Fame appears to chase him perpetually wherever he goes, tallying up his brilliance and extraordinary exploits.

    It certainly takes more than occasional achievement to catch the attention of Africa’s premier business news franchise, CNBC Africa. Such a fit requires determination, courage and the capacity for innovation; virtues Wigwe possesses in profuse abundance, which has seen him transforming Access Bank into one of the biggest financial institutions in the country with branches in Democratic Republic of Congo, Ghana, Rwanda, Sierra Leone, The Gambia, Zambia and the United Kingdom.

    Listening to his interview on an episode of CNBC’s Captains of Industry series, it became clear that Wigwe is one executive who stays on top of trends. His uncanny eye for sustainable growth led the bank to introduce Paywithcapture 5, Africa’s first digital banking platform, along with other initiatives like the Nigeria Hackathon.

    With these giant strides, he is fast establishing a reputation as one of the most proactive chief executives in the Nigerian banking sector.