Tinubu’s Actions Increased Herbert Wigwe Access Bank Stake: See How 
Home African CEOs Tinubu’s Actions Increased Herbert Wigwe Access Bank Stake: See How 
African CEOs - June 15, 2023

Tinubu’s Actions Increased Herbert Wigwe Access Bank Stake: See How 

President Bola Ahmed Tinubu’s actions since his inauguration on the 29th of May, 2023 introduced a series of bullish sentiments on the Nigerian Exchange. His actions involve the removal of a costly fuel subsidy, the appointment of a new central bank governor, and a commitment to unify the country’s exchange rates. 

Tagged as economic reforms, these actions have attracted foreign investors to Africa’s largest economy. Also, it has increased the fortune of the CEO of Access Holdings Herbert Wigwe. 

According to reports, Wigwe’s 8.95-per cent stake in Access Holdings witnessed a remarkable boost, rising by $23.23 million within the last 15 days. The surge pushed the market value of his stake from $84.05 million on the 31st of May to $107.3 million at the opening of the Nigerian Exchange today.

Wigwe’s Stake in Access Bank

Earlier, Wigwe acquired 75 million shares in Access Holdings, amounting to $1.6 million. His acquisition further solidifies his position as the top shareholder in the Lagos-based financial services holding company.

In total, his acquisitions this year amount to 1,425,188,284 ordinary shares, increasing his shareholding from 5.44 to 8.95 per cent. As a significant shareholder, Wigwe now possesses 3,180,789,014 shares in Access Holdings.

This surge in Wigwe’s fortune and stake in Access Holdings which has been attributed to the bullish sentiment prevailing on the Nigerian Exchange underscores the growing confidence in the Nigerian financial market and reflects the positive outcomes of the country’s latest economic reforms.

It also solidifies Access Holdings’ position as the thirteenth most valuable company on the Nigerian Exchange. As Tinubu continues to unravel policies and make critical economic decisions for the country, the future looks promising for both Wigwe and the group.

Leave a Reply

Check Also

7 Underrated Businesses to Make You a Multi-Millionaire with Low Investment

In a world teeming with entrepreneurial spirits, the dream to become a multi-millionaire w…