More than two years after the passing of Nigerian banking executive Herbert Wigwe, the value of the stake held by his estate in Access Holdings Plc has climbed above $52 million, reflecting a rise in the lender’s share price and renewed support for one of Nigeria’s most closely watched financial institutions.

Figures contained in Access Holdings’ consolidated and separate financial statements for the year ended Dec. 31, 2025, show that Wigwe’s estate owns a 5.71-percent interest in the financial services group, equivalent to 3,045,898,002 shares. The holding has gained approximately $7.9 million since the beginning of the year, with its market value increasing from $44.04 million on Jan. 1 to $52 million at the time of drafting this report.

The increase comes as Access Holdings shares posted double-digit gains on the Nigerian Exchange (NGX) while the Nigerian naira strengthened against the U.S. dollar. Since the start of the year, shares of Access Holdings have risen 11.4 percent, advancing from N21 ($0.0145) on Jan. 1 to N23.4 ($0.017). The rally has pushed the group’s market capitalization beyond $910 million, adding value to the holdings of shareholders, including the estate of the late banker who helped build the institution into one of Africa’s leading financial groups.

Architect of Access Holdings growth

Wigwe’s name is closely linked to the rise of Access Holdings and the transformation of Nigerian banking over the past two decades. As co-founder and chief executive officer of Access Holdings, he played a central role in expanding the business from a relatively modest lender into Nigeria’s largest bank by assets. His leadership was defined by a series of acquisitions and partnerships that broadened the institution’s reach and strengthened its position in key markets.

His career began at Coopers & Lybrand Associates before he moved to Guaranty Trust Bank Plc, where he spent more than a decade managing a range of portfolios. A defining moment came in 2002 when he and long-time business partner Aigboje Aig-Imoukhuede acquired Access Bank, setting in motion a period of expansion that would reshape the bank’s future.

Under Wigwe, Access Bank emerged as the fourth-largest lender in Nigeria by 2017. The acquisition of Diamond Bank in December 2018 marked another chapter in the institution’s growth, creating a larger banking platform and laying the foundation for a broader financial services structure. That process culminated in March 2022 with the creation of Access Holdings, a holding company designed to oversee banking and other financial services businesses.

Legacy extends beyond banking

Beyond banking, Wigwe championed the diversification of the group into asset management, payments and other financial services segments. His ambition extended beyond building a successful lender. He frequently spoke about creating a globally connected community of ecosystems inspired by Africa for the world, a vision that informed many of the group’s strategic decisions and expansion efforts.

Wigwe passed away on Feb. 9, 2024, in a helicopter accident in the United States alongside his wife, his son and Abimbola Ogunbanjo, former president of the Nigerian Stock Exchange. His influence extended well beyond banking. Through his investment vehicle, Tengen Holdings, and his leadership across the Access ecosystem, he played a role in shaping Nigeria’s corporate sector while supporting initiatives aimed at economic growth and social development. He was also committed to philanthropy through the HOW Foundation, which focuses on youth empowerment, leadership development, mentorship and healthcare.

Today, as the value of the estate’s Access Holdings stake surpasses $52 million, the gain serves as a reminder of the enduring connection between Wigwe’s legacy and the institution he spent decades building. While markets continue to fluctuate and investor sentiment shifts, the appreciation in the value of the holding underscores the lasting significance of his contribution to one of Nigeria’s most important financial groups.