The history of Access Bank is unique in the Nigerian financial landscape. While the bank was technically incorporated in 1989, its true “founding” as a modern powerhouse began in March 2002. It was during this time that two visionary young bankers, Aigboje Aig-Imoukhuede and the late Herbert Wigwe, executed a daring management buy-in that would change the trajectory of African banking forever.
The Founders’ Biographies
Aigboje Aig-Imoukhuede, CON
Born in 1966 in Ibadan, Aigboje Aig-Imoukhuede is a lawyer by training, earning his LL.B. from the University of Benin before being called to the Nigerian Bar. He later earned an Executive MBA from the Harvard Business School.
Aigboje began his career at Continental Merchant Bank before moving to Guaranty Trust Bank (GTBank) in 1991. At GTBank, he rose rapidly to become an Executive Director at the age of 32. In 2002, he led the acquisition of Access Bank and served as the Group Managing Director/CEO until 2013. Under his leadership, the bank moved from the 65th largest in Nigeria to the top tier.
Beyond banking, he is a major philanthropist and leader in the global health space, serving as the Chair of Friends of the Global Fund Africa. In 2024, following the tragic passing of his partner, he returned as the Chairman of Access Holdings PLC to provide stability and continuity.
Herbert Onyewumbu Wigwe, CFR (1966–2024)
Born in Isiokpo, Rivers State, Herbert Wigwe was a brilliant financial mind who earned a degree in Accountancy from the University of Nigeria, Nsukka. He held an MA in Banking and Finance from the University College of North Wales and an MSc in Financial Economics from the University of London.Like Aigboje, Herbert was an Executive Director at GTBank before the “Project Festival” buy-in. He was known for his incredible work ethic and his ability to see opportunities where others saw risk.
He succeeded Aigboje as CEO in 2014. His tenure was defined by aggressive expansion, most notably the 2019 merger with Diamond Bank, which made Access Bank the largest retail bank in Africa.
Before his untimely death in a helicopter crash in early 2024, Herbert founded Wigwe University in his hometown, aiming to create a world-class institution that would train the next generation of African leaders.
The acquisition of Access Bank was a high-stakes mission internally nicknamed “Project Festival” (named after Aig’s rented house on Festival Road in Victoria Island where they met in secret).To buy the bank, they needed ₦1 billion (approximately $9 million at the time). The duo only had about ₦200 million in combined savings and GTBank shares.They raised the remaining ₦800 million by convincing a small group of private investors and mentors to back their vision of a “world-class African bank.”
At age 36, the Central Bank of Nigeria (CBN) initially hesitated to approve the takeover, fearing they were “too young.” They eventually proved their competence through a rigorous 10-year roadmap.
The story of Aig-Imoukhuede and Wigwe is a masterclass in ambition, partnership, and corporate culture. Their “no excuses” philosophy transformed a struggling, mid-tier lender into a continental powerhouse.
As of 2026, Access Bank remains a leader in technology-driven healthcare financing and Pan-African trade, fulfilling the promise made by two young men in a small house on Festival Road over two decades ago.
The Incredible Journey of Aig-Imoukhuede and Herbert Wigwe
This video provides a deep dive into the personal and professional partnership that allowed these two founders to transform a struggling lender into a continental powerhouse.
