Nigerian banker Herbert Wigwe recoups $2.1 million after last week’s losses

Despite Access Holdings’ shares falling by more than 10 percent earlier this month, Nigerian banker Herbert Wigwe saw the market value of his stake in the financial services group increase by more than $2 million during today’s trading session on the Nigerian Exchange.

According to data tracked by Billionaires.Africa, Wigwe’s stake in Access Holdings increased in value by N961.4 million ($2.1 million) during trading hours today, March 20, as investors renewed buying interest in the bank’s shares.

Access Holdings is the largest financial services group in Nigeria in terms of assets and one of the most capitalized financial institutions listed on the Nigerian Exchange. It operates in 11 African countries, including South Africa, Ghana, Kenya, Nigeria, Rwanda, and Mozambique.

Wigwe, a leading Nigerian banker, owns 4.51 percent of the leading financial services group and has been instrumental in its growth and expansion. Under his leadership, the pan-African financial services conglomerate’s total assets have surpassed $30 billion, while retained earnings have surpassed $1 billion.

Access Holdings’ shares increased by 7.14 percent during trading hours today, March 20, on the Nigerian Exchange, from N8.4 ($0.0182) at the start of the local bourse this morning to N9 ($0.0196) at the time of writing this report.

The recent uptick in the bank’s share price, fueled by renewed investor interest, has increased Access Holdings’ market capitalization on the Nigerian Exchange to more than N320 billion ($695 million), cementing its position as one of the most valuable financial services groups on the local bourse.

As a result of the surge in the bank’s shares on the Nigerian Exchange, Wigwe’s stake in Access Holdings has increased by N961.41 million ($2.1 million), from N13.46 billion ($29.24 million) at the opening of the local bourse this morning to N14.42 billion ($31.32 million) at the time of writing this report.