Was Herbert Wigwe one of Nigeria’s most influential bankers? Absolutely. His financial journey from Guaranty Trust Bank to transforming Access Bank into Africa’s largest bank was remarkable. But how much was he really worth?
In this article, Ando breaks down Herbert Wigwe’s net worth, his salary as Access Bank’s CEO, and his financial ventures. We’ll also explore his investments, philanthropy, and long-term impact on the banking industry.
Herbert Wigwe Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Herbert Onyewumbu Wigwe |
| Popular Name | Herbert Wigwe |
| Birth Date | August 15, 1966 |
| Age (as of 02/24/2025) | 57 (Died: February 9, 2024) |
| Birthplace | Ibadan, Oyo State, Nigeria |
| Nationality | Nigerian |
| Ethnicity | N/A |
| Education | University of Nigeria, Nsukka; University College of North Wales; University of London; Harvard Business School |
| Marital Status | Married (1994) |
| Spouse | Doreen Chizoba Wigwe (née Nwuba) |
| Children | 5 |
| Dating | N/A |
| Siblings | N/A |
| Parents | Father – Director General of Nigerian Television Authority; Mother – Nurse |
| Height | N/A |
| Net Worth | $100 million |
| Source of Wealth | Banking, Business |
What is the Net Worth of Herbert Wigwe in 2025?
Herbert Wigwe’s estimated net worth was $100 million at the time of his passing in 2024. Compared to other African banking moguls, this places him among the continent’s top financial figures.
Although his salary as CEO of Access Bank was not publicly disclosed, it is widely known that executives of similar banks in Nigeria earn millions annually. His wealth came from Access Bank’s growth, the Diamond Bank merger, and his long-term influence in the banking sector.
Related Figures in the Finance and Banking Sector
- Aigboje Aig-Imoukhuede
- Aliko Dangote
- Jim Ovia
- Tony Elumelu
- Central Bank of Nigeria
- Guaranty Trust Bank
- Nigerian Exchange Group
- UNICEF
- Harvard Business School
- University of Nigeria
Looking for more on Africa’s wealthiest individuals? Check out the most influential business figures in the world.
Herbert Wigwe Wealth, Salary, and Financial Overview
How Did He Accumulate His Wealth?
Herbert Wigwe’s financial journey started at Coopers & Lybrand, where he trained as a chartered accountant. His rise began at Guaranty Trust Bank, where he became an executive director in 1998.
In 2002, he and Aigboje Aig-Imoukhuede acquired Access Bank, which was then a small institution. Despite initial resistance from the Central Bank of Nigeria, the duo proved their capability. Under his leadership, Access Bank grew into a leading financial powerhouse.
His Salary and Earnings as CEO of Access Bank
As CEO of Access Bank from 2014 to 2024, Herbert Wigwe led the bank’s rapid expansion. While his exact salary remains undisclosed, top bank executives in Nigeria earn millions annually, including bonuses and stock options.
He also received performance-based incentives and dividends from Access Bank’s growth. Given that the bank became Africa’s largest in customer base, it is certain that his financial rewards were substantial.
His Key Financial Investments and Business Ventures
Herbert Wigwe was not just a banker; he was a visionary investor. His biggest investment was the 2019 merger between Access Bank and Diamond Bank, which solidified Access Bank as Nigeria’s largest financial institution.
Beyond banking, his financial interests included:
- International banking expansion (UK, Kenya, South Africa)
- Corporate partnerships (UNICEF, Boys’ Brigade)
- Education sector investments, including Wigwe University, set to open in 2024
His Role in the Growth of Access Bank
When Herbert Wigwe took over as CEO in 2014, Access Bank was already a strong institution. However, he had a bigger vision—to make it the leading bank in Africa.
Key milestones under his leadership:
- Led the Diamond Bank merger (2019)
- Expanded into the UK, Ghana, Kenya, and South Africa
- Introduced digital banking innovations
- Planned an expansion into Asia (2024) before his untimely passing
How His Wealth Contributed to Philanthropy and Social Initiatives
Wealth wasn’t just for personal gain—Herbert Wigwe was committed to giving back to society. His philanthropy included:
- The HOW Foundation, which focused on youth leadership and health programs
- Access Conference, bringing together global leaders like Nicolas Sarkozy and Muhammad Yunus
- UNICEF collaborations, supporting displaced children and vulnerable communities
- AIDS awareness campaigns as co-chair of the Nigerian Business Coalition Against AIDS
Financial Legacy and Impact on the Banking Industry
Herbert Wigwe’s legacy in the banking sector is undeniable. He played a pivotal role in Nigeria’s financial development, shaping the banking landscape for decades.
His leadership in Access Bank’s transformation, mergers, and philanthropy ensured his impact would last beyond his lifetime. His financial strategies, risk-taking, and vision have influenced a new generation of banking executives.
Conclusion
Herbert Wigwe’s net worth and financial success were built on strategic leadership and banking expertise. His impact on Nigeria’s finance industry remains significant, even after his passing.
What are your thoughts on his financial journey? Let’s discuss in the comments! Also, explore more financial insights at andomoney.com.
