Access Corporation, the parent company of Nigeria’s biggest bank by assets, has appointed Aigboje Imoukhuede, a pioneering CEO of the bank, as the Non-Executive Chairman.
Imoukhuede returns to the bank he retired a decade ago; exactly one month after the death of Herbert Wigwe, his friend, business partner, and former Group Chief Executive Officer (GCEO) of the bank. He will replace Abubakar Jimoh, the erstwhile board chairman.
According to a statement by the bank, Imoukhede’s appointment was a unanimous decision welcomed by the board to steer the bank in the right direction. The erstwhile chairman, Jimoh, will remain on the bank’s board, serving as an Independent Non-Executive Director.
“Mr Aig-Imoukhuede’s appointment to the Board and subsequent election as Chairman is a landmark development for Access Holdings,” said Jimoh. “All our board members are excited about our future.”
Reacting to the appointment, Imoukhuede said he is “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 shareholders,” he added.
Imoukhuede is no stranger to the banking world, and Access Bank Holdings, boasting 22 years of industry experience. He served as the GCEO of Access Bank for 11 years, until Wigwe succeeded him in 2013. Under Aig-Imoukuede’s leadership, Access Bank became a tier-1 bank, growing its presence in over nine countries and its customer base to over six million. The bank boasted an asset base worth $12 million under Imoukhuede’s tenure that began in 2002.
As Board Chairman, he promised all customers, employees, and stakeholders a promising future under his leadership. He promised to take the group to a new chapter of sustainable success. Today, the bank’s shares grew 2.45% at the end of trading to ₦23 per share, signifying a silver lining for the shares that are beginning to peak after it closed last month at ₦19.15.
Imoukhuede co-founded the Tengen Family Office Limited which oversees a significant portfolio of investments and business in banking, finance, real estate, technology and energy. He also owns Coronation Group Limited, an investment holding and trading company for a group of companies that provide a wide range of financial services.
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