Nigerian Banking Tycoon Herbert Wigwe Dies in California Helicopter Crash
Herbert Wigwe, the co-founder of Access Bank, a leading Nigerian financial institution, tragically lost his life along with five others in a helicopter crash in California on Friday.
The fatal crash claimed the lives of Wigwe, his wife, son, and a former president of the Nigerian Stock Exchange. The news of Wigwe’s untimely demise has sent shockwaves through Nigeria’s financial sector, with President Bola Tinubu describing it as an “overwhelming tragedy.”
The helicopter, chartered for travel from Palm Springs to Boulder City in Nevada, crashed approximately 96 kilometres (60 miles) from Las Vegas in the southern California desert. Poor weather conditions, including rain and snow showers, have complicated the investigation into the crash’s cause.
Wigwe, aged 57, was reportedly en route to Las Vegas to attend the Super Bowl on Sunday, according to Nigerian media. As the co-founder of Access Bank in 1989, he played a pivotal role in its growth, culminating in its ascent to become Nigeria’s largest bank in 2018 following the acquisition of Diamond Bank.
In recent years, Wigwe had been spearheading Access Bank’s expansion efforts across Africa, acquiring banks in countries such as Kenya, South Africa, and Botswana. Additionally, he had ambitious plans to launch a new banking service in Asia in early 2024.
Tributes from across Nigeria and beyond have poured in following the news of Wigwe’s tragic demise. President Tinubu expressed profound shock, while the president’s office described Wigwe’s death as a “terrible blow” to Nigeria and Africa’s banking industry.
In a poignant reflection of his commitment to education and societal development, Wigwe had announced plans to establish Wigwe University in Nigeria’s Niger Delta region, slated for launch in September. In a newspaper article earlier this year, he emphasized the importance of investing in higher education to address global migration issues, underscoring his dedication to giving back to society through educational initiatives.
