Home News Access Holdings loses 6.26% as investors react to Wigwe’s death

Access Holdings loses 6.26% as investors react to Wigwe’s death

by Harry Choms
Access Holdings

Access Holdings’ stock price fell by 6.26% today as shareholders mourned the loss of Herbert Wigwe.

Following a bearish week where Access Holdings experienced a 2.25% decline, the company’s share price dropped by N1.55 to close at N23.20, down from last Friday’s N24.75.

There was significant trading activity around Access stocks, with Access Holdings being the most traded stock on the NGX, with 24.90 million units of ACCESSCORP traded. In terms of value, ACCESSCORP recorded a trading value of N575.1 million.

Speaking to Nairametrics, Patrick Ajudua, the President of the New Dimension Shareholders Association, expressed condolences, saying, “As we bid farewell to Herbert and others who lost their lives in this unfortunate event, we offer our prayers for their souls to rest in peace. May God grant solace to the entire Access Bank community, including the board, management, staff, friends, and well-wishers.”

Moses Ibrude, the National Co-ordinator of the Independent Shareholders Association of Nigeria, also commented on Wigwe’s passing, noting, “The loss of such a remarkable individual will be keenly felt by all who knew him, especially the staff of Access Holding, shareholders, and other stakeholders.”

With the sudden and lamentable passing of Herbert Wigwe, Access Holdings has officially declared its intention to appoint an interim Group CEO. As the organization navigates this unexpected turn of events, an emergency management plan is being swiftly formulated and poised to be implemented.

Herbert Wigwe, as Group CEO of Access Holdings, led the bank’s assets to N21.4 trillion as of Q3 2023, making it the largest bank in Nigeria in terms of assets.

In response to Wigwe’s death, Access Holdings noted, “The Access Family has suffered a major loss with the passing of Dr. Wigwe, a great friend and fine gentleman. He had a prodigious intellect, admirable personal qualities, and vast business experience, which he brought to bear on the Access Family, and we owe him a debt of gratitude.”

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