NGX: Access Holdings Shares Rebound By 1.29% After Wigwe’s Passing Defying 6.2% Loss On Monday

Access Holdings’ shares bounced back into positive territory, defying a Monday’s 6.26% dip attributed to the untimely demise of Herbert Wigwe, the former Group CEO.

Share prices rose by 1.29%, closing at N23.60 per share, offering shareholders some relief amidst the somber news.

Reacting to the unexpected loss, Access Holdings appointed Ms. Bolaji Agbede as Acting Group CEO, emphasizing continuity and stability in leadership. Ms. Agbede’s appointment, a founding Executive Director within the organization, signals a pivotal moment as the company adapts to new challenges.

Market resilience was evident as the domestic bourse posted gains, with the benchmark index rising by 1.76% to close at 103,498.28 points. Notable contributions from AIRTELAFRI (+10.00%) and ZENITHBANK (+2.82%) countered losses, maintaining a positive market outlook.

Furthermore, the year-to-date return rose to 38.42%, reflecting investor confidence despite recent setbacks. Trade turnover surged by 181.51%, with 426.86 million shares valued at N12.11 billion exchanged in 8,654 deals, underscoring market activity.

Shareholders expressed profound sadness over Mr. Wigwe’s passing, acknowledging his contributions to Access Bank and the corporate community. Mr. Patrick Ajudua, President of the New Dimension Shareholders Association, highlighted Wigwe’s transformative influence and legacy, extending condolences to his family and the broader Access Bank community.

In a reflective moment, Ajudua emphasized the brevity of life and the importance of cherishing relationships, offering prayers for the departed and solace to those affected.

As Access Holdings navigates this period of transition, the company remains focused on honoring Wigwe’s legacy while steering towards continued growth and stability under new leadership.