How Nigerian Banking Prodigy Herbert Wigwe Scored a $12 Million Win with Access Bank Shares 

Herbert Wigwe, one of Nigeria’s most influential banking executives and the group managing director of Access Holdings recently achieved a remarkable feat in the world of finance. Over the past 26 days, the market value of Wigwe’s stake in Access Holdings experienced a substantial upswing, adding a staggering N10.18 billion ($12.89 million) to his already impressive portfolio. 

This significant increase highlights the sustained investor interest in the group’s shares on the Nigerian Exchange. Herbert Wigwe’s success is not a mere stroke of luck; it is a testament to his unwavering commitment to Access Holdings and his strategic share acquisitions. His forward-thinking approach to banking and finance has not only benefited him personally but has also contributed significantly to the group’s promising growth prospects.

Wigwe’s stake in Access Bank

Herbert Wigwe, the CEO of Access Bank, increased his stake in Access Holdings, a Lagos-based financial services holding company. He acquired 75 million shares for $1.6 million, making him the top shareholder in the company. This year, he has acquired a total of 1,425,188,284 ordinary shares, increasing his shareholding from 5.44% to 8.95%, now holding 3,180,789,014 shares in Access Holdings.

This substantial increase in Wigwe’s stake is attributed to the bullish sentiment in the Nigerian Exchange, showcasing growing confidence in the Nigerian financial market and the positive outcomes of recent economic reforms. It also strengthens Access Holdings’ position as the thirteenth most valuable company on the Nigerian Exchange. 

As the company’s CEO, Wigwe’s actions align with the economic policies and decisions made by influential figures like Tinubu, suggesting a promising future for both Wigwe and the group in the Nigerian financial landscape.

Wigwe’s stake increased above $80 million, market cap by %18

The market value of his stake has experienced a notable surge since November 16, with an increase of N10.18 billion ($12.89 million). His stake now sits at a remarkable N65.91 billion ($83.49 million), further solidifying his position as a prominent figure in the Nigerian banking sector.

In recent times, Access Holdings’ shares on the Nigerian Exchange have experienced an impressive surge, soaring by 18.26 percent. This surge took the stock price from N17.25 ($0.0219) on November 16 to N20.4 ($0.0258) at the time of writing this report. As a result, the group’s market capitalization now stands tall at over $917 million, showcasing its resilience and attractiveness to investors in the Nigerian financial market.

What you should know about Access Holdings

Access Holdings is a major player in Nigeria’s financial services sector, with active operations spanning 12 African countries. Over the years, the company has made strategic moves to expand its footprint in Africa and Europe, solidifying its position as a global financial powerhouse. Notably, Access Holdings recently reached an agreement to acquire the Sub-Saharan African subsidiaries of the UK-based multinational bank, Standard Chartered Bank.