Access Holdings has chosen as its Chairman Mr. Aigboje Aig-Imoukhuede, with whom the Late Herbert Wigwe bought Access Bank in 2002.
Aig-Imoukhuede had served as the pioneer CEO of Access Bank, the group’s commercial banking division before it evolved into a holding company.
From the year of its acquisition to 2013, Mr Aig-Imoukhuede managed the bank, assisted by Mr. Wigwe, the Managing Director of Access Holdings, who died in a chopper crash in the US last month aged 57.
“Following extensive consultations with key stakeholders, the holdco board decided to invite Mr Aig-Imoukhuede to the helm of governance,” Access Holdings said in a statement to the Nigerian Exchange on Wednesday.
He replaces Abubakar Jimoh, who had functioned in an acting capacity since the demise of former Chairman Bababode Osunkoya last November.
“I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders,” Mr Aig-Imoukhuede was quoted as saying.
He obtained a Bachelor of Laws degree from the University of Benin in 1986 and started as a lawyer, working for Continental Merchant Bank two years later.
In 1991, he joined the newly founded Guaranty Trust Bank, where he rose through the ranks to become an Executive Director at 36.
The Nigerian Exchange (known at the time as the Nigerian Stock Exchange) appointed him President in 2014 up until 2017.
He led Access Bank to acquire the defunct Intercontinental Bank in 2012, a deal which increased the bank’s branches by 309.
Aig-Imoukhuede previously chaired the boards of FMDQ OTC Exchange and ENTERPRISENGR, an advocacy group focused on the expansion and excellence of Nigeria’s financial and professional services.
The move signals a significant shift in leadership, Mr. Jimoh, the erstwhile Chairman, will continue to serve on the Board as an Independent Non-Executive Director.
Aig-Imoukhuede, a distinguished figure in Nigeria’s banking and finance sector, brings with him a wealth of expertise and leadership acumen. His return comes in the wake of the untimely passing of Dr. Herbert Wigwe, CFR, the immediate past Group Chief Executive Officer of Access Holdings. Following extensive consultations with key stakeholders, the Holdco Board unanimously decided to invite Aig- Imoukhuede to lead the organization.
During his tenure as Group Chief Executive Officer of Access Bank from 2002 to 2013, Mr. Imoukhuede, alongside his late partner and deputy, Dr. Herbert Wigwe, CFR, played a pivotal role in shaping Access Bank’s trajectory. Under their stewardship, Access Bank transformed into one of Nigeria’s top 5 banks, expanded its footprint across 9 other African countries and the United Kingdom, and grew its customer base from ten thousand to over six million. The bank’s asset base surged to USD $12 billion, establishing itself as a globally recognized financial institution.
Since retiring as CEO in 2013, Aig-Imoukhuede has been actively involved in various ventures, including co-founding the Tengen Family Office Limited, which oversees a diverse portfolio of investments spanning banking, finance, insurance, technology, real estate, and energy. Additionally, through the Aig-Imoukhuede Foundation, he has been dedicated to nurturing Nigeria’s next generation of leaders and improving access to quality healthcare.
Aig-Imoukhuede’s return to Access Holdings as Non-Executive Chairman underscores the Board’s commitment to building upon the foundation laid by him and Dr. Wigwe. In his new role, Aig-Imoukhuede will collaborate with the Board to provide strategic guidance to the executive management team, leveraging his extensive experience and industry knowledge.
Expressing his excitement about Aig-Imoukhuede’s appointment, Mr. Abubakar Jimoh, past Chairman of Access Holdings, said, “Mr. Aig-Imoukhuede’s appointment to the Board and subsequent election as Chairman is a landmark development for Access Holdings. All our board members are excited about our future.”
