Aig-Imoukhuede returns to chair Access Holdings after 10 years

Business a.m

Aigboje Aig-Imoukhuede, who, along with late Herbert Wigwe, the immediate past group chief executive officer of Access Holdings Plc, was the brain behind the acquisition and transformation of Access Bank Plc in 2002 and led it as group managing director and chief executive officer before retiring in 2013, is making a strategic return to the holdco as its new chairman, according to a regulatory disclosure to the Nigerian Exchange (NGx) by the financial institution on Wednesday 13 March 2024.

Aig-Imoukhuede succeeds Abubakar Jimoh, who served as the HoldCo’s chairman and will continue to serve on the board as an independent non-executive director, the company stated.  

The new development is in response to the untimely passing of Herbert Wigwe, whose absence left a void in the bank’s executive management.  Following  extensive consultations with key stakeholders, the Holdco board unanimously decided to invite Aig-Imoukhuede to the helm of governance. The renowned visionary and  iconic figure in Nigeria’s banking sector, is expected to bring an outstanding record of accomplishments, wealth of expertise and leadership to guide the Group into a new era of success.

Aig-Imoukhuede is no stranger to the banking and finance sector, having served as the group chief executive officer. During his tenure, he transformed the bank from a medium-sized financial institution into a leading African bank, with operations in multiple countries. Under his visionary leadership, Access Bank enjoyed phenomenal growth, becoming one of Nigeria’s leading banks and expanding its footprint to nine other African countries and the United Kingdom. 

Aig-Imoukhuede’s success as the CEO of Access Bank was driven by his strategic thinking, innovative approach and deep understanding of the banking industry. Under his stewardship, Access Bank grew its customer base from ten thousand to over six million with more than 5,000 employees and an asset base of $12 billion, achieving numerous milestones and becoming a globally recognised name. 

Upon his retirement from Access Bank, Aig-Imoukhuede established Tengen Family Office Limited, an investment firm that has grown to become a significant player in various sectors. The firm is active in banking, finance, insurance, technology, real estate, and energy, demonstrating Aig-Imoukhuede’s continued passion for business and innovation. Aig-Imoukhuede is also committed to making a positive impact on society through the Aig-Imoukhuede Foundation. The foundation works to improve access to quality primary healthcare, promote public sector effectiveness, and help develop the next generation of government leaders.

Access Bank explained that the decision to bring back Aig-Imoukhuede as the non-executive chairman is a testament to the board’s commitment to upholding the highest standards of corporate governance and achieving excellence in everything the Group does. The board recognises that the strong foundations laid by Aig-Imoukhuede and Wigwe are critical to the group’s success and will continue to guide its strategy going forward. With his return, Access Holdings aims to leverage his extensive experience, industry knowledge, and exceptional leadership skills to consolidate on the growth and accomplishments recorded under  Wigwe’s leadership.

In his new role, Aig-Imoukhuede will work closely with the Board to ensure that the Group remains on a sustainable growth trajectory and continues to meet the highest standards of corporate governance. His vast experience and deep knowledge of the group’s business will be invaluable as the Group enters its next phase of growth.

Abubakar Jimoh, the former Chairman of Access Holdings, expressed his excitement at Aig-Imoukhuede’s return, saying: : “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’’.

Commenting on his appointment, Aig-Imoukhuede, said: “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. I am determined that our shared vision which Dr. Wigwe gave everything for, will be realised”.

As the Access Group welcomes back Aigboje Aig-Imoukhuede, its family of employees, customers, and stakeholders look forward to the exciting possibilities that this new chapter brings. Aig-Imoukhuede’s expertise and dedication are expected to lead the Access Group to a future of greater impact and sustainable success.