AdminBy Tunde Ogunseitan
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Next Monday, February 10, marks one year since Herbert Wigwe, his wife Chizoba, their son Chizi, and their friend, Abimbola Ogunbanjo, tragically lost their lives in a helicopter accident in Southern California, United States. The crash occurred over the Mojave Desert between 10 p.m. and 11 p.m. on Friday, 9 February 2024, California time (between 7 a.m. and 8 a.m. on 10 February 2024, Nigerian time). Access Holdings is planning a memorial event to honour their memories, with details to be announced soon.
Over the past year, significant changes have taken place within the banking group, guided by its business continuity plans. Bolaji Agbede succeeded Herbert as the Group Chief Executive of the holding company; Aigboje Aig-Imoukhuede returned as Board Chairman, while Roosevelt Ogbonna continues as the bank’s CEO. Together, they remain committed to driving Access Holdings and Access Bank’s vision of global expansion. Reflecting on the past year, Roosevelt remarked, “It has been full of grace.”
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Herbert’s surviving children are adjusting to life without their parents and continuing their education. They have filed a wrongful death lawsuit against the helicopter company in a California court, seeking both economic and non-economic damages. Similarly, the family of Abimbola Ogunbanjo has filed a separate lawsuit. According to Paul Usoro, SAN, a distinguished lawyer, and former NBA President who is involved in the case, the legal proceedings have been delayed due to the wildfires that have swept across Southern California, causing evacuations and business closures. He expressed confidence that the case would have been resolved sooner than later, if not for these disruptions.
Another legal expert noted that damages awarded in wrongful death cases depend on the specifics of the case and the extent of the victims’ losses.
The tragic loss of basketball star Kobe Bryant and his daughter Gianna in a 2020 helicopter crash in California provides a precedent. In June 2021, Kobe’s widow, Vanessa Bryant, and their surviving daughters received a significant but confidential settlement from the helicopter company. Two years later, they were awarded more than $28 million in damages from Los Angeles County due to the unauthorised sharing of crash site photos. Wrongful death lawsuits are taken seriously in the U.S., where institutions function effectively, and the rule of law prevails.
Wigwe University, Herbert’s legacy project, has successfully commenced classes. Vice Chancellor Prof. Marwan Al-Akaidi stated that the university, in collaboration with the Wigwe family, will hold a memorial church service at the RCCG Church in Isiokpo, Rivers State, and a reception on campus on February 9 to honour Herbert, his wife, and their son. Traditional rulers and members of the Isiokpo community are expected to attend. Before the memorial, the university will host an Open Day on February 8 to welcome parents, prospective students, and other stakeholders. Prof. Al-Akaidi emphasised Herbert’s visionary leadership and commitment to Africa’s development, stating, “My duty is to ensure that his mission and vision are fulfilled.” Over 100 students matriculated in the university on November 14, in a ceremony attended by Herbert’s eldest surviving child, Tochi; his father, Pastor Shyngle Wigwe; and his brother, Emeka. Tochi delivered a moving speech at the event. A visit to the university in October confirmed its impressive infrastructure—true to Herbert’s philosophy: “I don’t do small things.”
How have Access Holdings and Access Bank fared over the past year? A visit to the corporate headquarters in Lekki, Lagos, earlier this month revealed remarkable resilience and determination among its leadership and staff. The successful completion of the Access Holdings’ capital-raising exercise was widely commended in the industry. The company generated over N351 billion from its Rights Issue of 17.772 billion shares at N19.75 per share, closing the offer in August. With this achievement, Access Bank became the first financial institution to meet the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for banks with international authorisation—well ahead of the March 2026 deadline. The bank’s share capital will rise to N600 billion, exceeding the regulatory minimum by N100 billion. Additionally, the bank and its executives have received numerous awards and accolades globally.
Herbert Wigwe’s sudden death on the morning of February 10, 2024 (Nigerian time), sent shockwaves across Nigeria and beyond. He was an iconic figure of global significance. As the first anniversary of his passing approaches, it is imperative for Access Holdings, Access Bank, and its stakeholders to consider meaningful ways to immortalise him. One such initiative could be the establishment of the Herbert Wigwe Memorial Lecture Series, in collaboration with the family and Wigwe University. This platform would serve as a lasting tribute to his legacy and contributions to the banking sector and beyond.
Ogunseitan lives in Lagos
