What was Herbert Wigwe net worth before his death? The late Nigerian banking mogul and philanthropist, Herbert Wigwe, made an impact in the African financial ecosystem. Wigwe, a former Group Managing Director and CEO of Access Bank, one of Nigeria’s biggest financial institutions, loomed large both in corporate circles and in humanitarian circles.

Famous for his sharp mind, business sense, and visionary guidance, Wigwe amassed a fortune and a legacy in turn that spoke not only of monetary richness but a wealth of transformation within Nigeria’s banking industry.

In this blog post, we take a deep dive into the life of Herbert Wigwe, his career and investments, his philanthropy ventures, and his estimated net worth as of October 2023.

Early Life and Education

Herbert Onyewumbu Wigwewas born on August 15, 1966 in Ibadan, Nigeria. Groomed in a strict, academically-focused home, he showed aptitude for finance and economics as a youth. Wigwe graduated with distinction in Accountancy from the University of Nigeria, Nsukka (UNN).

Hell bent on global excellence, he had a Master’s in Banking and Finance from the University College of North Wales (now Bangor University) and a second Master’s in Financial Economics from the University of London.

He graduated from the Executive Management Program at Harvard Business School. His journey through these institutions built the foundation for a path that would ultimately lead to a successful career in finance.

Career Background: GTBank, then Access Bank

Herbert Wigwe trained as a chartered accountant with Coopers & Lybrand Associates, which became PwC. His real breakthrough came when he joined Guaranty Trust Bank (GTBank) in the early nineties.

He joined as an executive director, one of GTBank’s founding fathers, yanking the bank up through the ranks over the years.

Wigwe and his longtime friend and business partner Aigboje Aig-Imoukhuede, acquired the Nigerian bank Access Bank in 2002 when it was struggling. With Wigwe’s tactical acumen and Aig-Imoukhuede’s visionary leadership, the bank went from fringe player to one of the top five banks in Nigeria.

Wigwe took over as Access Bank’s CEO in 2014 when Aig-Imoukhuede retired. His stewardship saw Access Bank grow its footprint from Nigeria to many of Africa’s nations, as well as the United Kingdom and parts of Asia.

His aggressive mergers and acquisitions strategy — the most notable example being the 2019 merger with Diamond Bank — made Access Bank the largest bank in Nigeria, by assets.

Entrepreneurial Projects and Investments

While Herbert Wigwe is best known as the long-time chief executive of Access Bank, his financial interests extended well beyond conventional banking.

He was an astute investor with holdings across industries, including:

1. Wigwe University

Early in 2024, Herbert Wigwe tragically passed away after founding Wigwe University – a modern private university in Isiokpo, Rivers State – in October 2023.

The university was meant to be Africa’s answer to Harvard and M.I.T., with an emphasis on excellence in business, technology, and innovation.

The institution was reported to have lured hundreds of millions of dollars in private investment and infrastructure development, ranking it among the most expensive educational project ever undertaken by an individual in africa.

2. Real Estate Holdings

Wigwe had significant holdings in real estate, including other luxury assets in Nigeria, as well as in the United Kingdom and the United States.

His assets included a mansion in Lagos and a countryside home in the UK and multiple commercial buildings in Port Harcourt and Abuja.

3. Philanthropy and Foundations

Wigwe was a co-founder of How Foundation, a non-profit organization focused on healthcare, education and youth empowerment in Nigeria.

Non-profit, his financial benefits that this foundation was doing showed with his money so that the common good.

Herbert Wigwe Net Worth: What Is His Net Worth?

It is difficult to put a figure on Herbert Wigwe’s net worth because many of his investments are not public.

But a rough idea gleaned from publicly available information and industry estimates that he worth $100 million as at when he was alive.

Access Bank Holdings

As CEO and majority shareholder, Wigwe was a major equity owner in Access Holdings. Based on multiple financial disclosures and analyst estimates:

As of late 2023, Access Holdings had a market capitalization of over ₦900 billion (~$1.1 billion USD).

Wigwe’s ownership interest either directly and indirectly, in Access Holdings was put at about 2% to 3%, suggesting at stake also about $22 million to $33 million USD.

Investments and Private Properties

Factoring in:

1. Investments in real estate in Lagos, Abuja, and London (valued at $10–$20 million)

2. Wigwe University: personally financed so far to the tune of more than $500 million (that is a long- term educational investment and not cash on hand).

3. Other private business equity interests (est. $10–$15 million)

Cumulative Estimate

Add these assets, and Herbert Wigwe’s net worth was estimated going into his 2024 death as being between:

$70 million — $100 million USD

The figure considers chains of liquid assets, company stock, real estate, and business investments barring philanthropy, such as Wigwe University which are non-revenue generating assets.

Recognition and Awards

Wigwe’s efforts in banking and economic development went international. He received many national and international awards, including:

• Banker of the Year (multiple awards at BusinessDay and The Banker)

• National honour: Commander of the Order of the Niger (CON) (Nigerian Government)

• African Banker Awards for his leadership and innovation

• These recognitions solidified his position as one of Africa’s most transformative business leaders.

Tragic Death and Legacy

Sadly, Herbert Wigwe died in February 2024 in a helicopter crash in the United States with his wife and son. His death shook both the Nigerian and the global financial communities.

These are the posthumous projects marking Wigwe’s legacy:

• Some context on Access Bank’s continued growth of the new Wigwe University, which will blossom into Africa’s premieretc.

• HOW Foundation continues its educational and healthcare work

• His business philosophy that embodies a bold vision, innovation and people-first mindset remains a source of inspiration to young entrepreneurs and professionals throughout the continent.

What We Can Learn From Herbert Wigwe’s Journey

The rise of Wigwe from a university graduate to a billionaire banker and philanthropist contains valuable lessons for aspiring leaders:

1. Vision and Execution

Wigwe didn’t only dream big — he executed mercilessly. The vision for Access Bank and Wigwe University proved that when set targets are closely and strategically followed, anything monumental is achievable.

2. Partnerships Matter

Another example of collaborative leadership can be found in his long-term partnership with Aigboje Aig-Imoukhuede.

3. Creating Better Jobs

Investing in People and Community

At every opportunity he always reinvested in human capital, from mentoring staff to creating a world-class university.

Conclusion

Herbert Wigwe’s wealth was about more than financial wizardry: It was also a measure of his deep faith in Africa’s potential. With a net worth estimated at up to $100 million, his story proves what can be achieved through education, resilience and bold leadership.

Although his own life ended early, his legacy will thrive — through the institutions he built, the people he inspired, and the future he helped design for the continent of Africa.