Prominent figures from the corporate and political spheres gathered yesterday to honor the memory of the late Chief Executive Officer of Access Corporation Plc, Herbert Wigwe, at a touching ‘Night of Tributes’ event. Renowned personalities including Aliko Dangote, Wale Edun, governors of Lagos and Ogun states, the Central Bank of Nigeria governor, and several bank executives praised Wigwe’s remarkable accomplishments.
Herbert Wigwe, aged 57, tragically lost his life, along with his wife Chizoba Wigwe, son Chizi Wigwe, and former President of the Nigeria Exchange, Abimbola Ogunbanjo, in a helicopter crash in the United States on February 9, 2024.
During the event, Aliko Dangote, Africa’s richest man, emotionally remembered Wigwe as a loyal friend and a pillar of support who played a significant role in his personal and professional life. Dangote also announced plans to honor Wigwe’s legacy by naming the road leading to the Dangote Refinery after him.
Adesina Akinwunmi, the President of the African Development Bank, described Wigwe as a source of pride for Nigeria and Africa, highlighting his relentless drive for excellence and his ability to turn every endeavor into a success.
Aigboje Aig-Imoukhuede, Chairman of Coronation Capital, praised Wigwe’s immense contribution to transforming the banking industry in Nigeria, emphasizing his brilliance and strategic vision.
Government officials also paid tribute to Wigwe’s leadership and commitment. Wale Edun, the Minister of Finance, acknowledged Wigwe as a pillar of support, praising his wealth of knowledge, innovative thinking, and readiness to provide solutions.
Governor Babajide Sanwo Olu of Lagos State commended Wigwe’s leadership qualities and his instrumental role in mobilizing support during the challenging period of the COVID-19 pandemic. Sanwo Olu expressed gratitude for Wigwe’s brotherly support and his contributions to the infrastructure development of Lagos.
Dapo Abiodun, the Governor of Ogun State, lauded Wigwe’s unwavering belief in Nigeria and his exceptional intelligence and courage. He described Wigwe as a true patriot who dedicated himself to supporting the nation.
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, referred to Wigwe as an exceptional individual who played a pivotal role in transforming Access Bank into one of Nigeria’s leading financial institutions.
Segun Agbaje, the Group Chief Executive Officer of GT Holdings, shared his deep personal connection with Wigwe, describing him as a brother, friend, competitor, and mentor. Agbaje emphasized the profound impact Wigwe had on his life and expressed his sorrow over their last conversation occurring just two weeks before Wigwe’s untimely passing.
In other news, Nigerian banks have reportedly increased their borrowing from the Central Bank of Nigeria (CBN) to meet regulatory and liquidity obligations. According to the CBN’s Financial Data for February 2024, banks’ borrowing from the CBN’s Standing Lending Facility (SLF) rose by 65.5% month-on-month to N5.96 trillion in February. This development comes in light of the CBN’s efforts to strengthen banks against vulnerabilities through policies such as increasing the benchmark interest rate and the Cash Reserve Ratio. Analysts predict that the rise in interest rates will lead to increased asset yields for banks in 2024, potentially impacting their dividend distributions and non-performing loans.
