Herbert Wigwe, one of Nigeria’s most influential banking executives and the group managing director and CEO of Access Holdings, has witnessed a significant surge in the market value of his stake in the Lagos-based financial services group.
According to data tracked by Billionaires.Africa, the market value of Wigwe’s stake in Access Holdings surged by N13.73 billion ($15.52 million) over the past eight days, showcasing sustained market interest in the group’s shares on the Nigerian Exchange.
Access Holdings Shares rise by 18.36 percent, market cap tops $1 billion
Access Holdings, a major player in Nigeria’s financial services sector, maintains active operations across 12 African countries and has been actively expanding its footprint in Africa and Europe. The group recently reached an agreement to acquire the Sub-Saharan African subsidiaries of UK-based multinational bank Standard Chartered Bank.
In recent times, Access Holdings’ shares on the Nigerian Exchange have surged by 18.36 percent, rising from N23.15 ($0.026) on Jan. 1 to N27.40 ($0.031) at the time of drafting this report. This propelled the group’s market capitalization above $1 billion, underscoring investor confidence and optimism on the local bourse.
Herbert Wigwe’s Access Holdings stake surpasses $100-million mark
As the group managing director and CEO of Access Holdings, Wigwe presently holds a substantial 9.09-percent stake in the lender, accounting for 3,230,789,014 ordinary shares. Wigwe’s unwavering belief in the group’s potential for growth has prompted a sequence of strategic share acquisitions, reinforcing his position within the company.
This recent upswing has significantly augmented Wigwe’s stake in Access Holdings by N13.73 billion ($15.52 million) — elevating his holdings from N74.79 billion ($84.54 million) on Jan. 1 to N88.52 billion ($100.06 million) at the time of drafting this report.
Wigwe’s unwavering dedication to Access Holdings and his strategically timed share acquisitions have further solidified his standing as a pivotal figure in Nigeria’s banking landscape. His remarkable success has garnered widespread attention nationwide, serving as a testament to Access Holdings’ promising growth trajectory.
