Governor Alex Otti of Abia State paid tribute to the late Herbert Wigwe, former CEO of Access Bank, acknowledging his groundbreaking approach to mergers and acquisitions.
Otti reminisced about how Wigwe consistently defied expectations in the financial sector, proving bookmakers wrong with his bold mindset.
Reflecting on Wigwe’s legacy, Otti highlighted the late CEO’s ability to challenge prevailing norms and emerge successful, particularly in the field of mergers and acquisitions.
Despite the scepticism surrounding such endeavours, Wigwe’s unconventional thinking set Access Bank apart.
- You would prove bookmakers wrong, even with your “Mergers and Acquisition” mindset.
- “I remember taking you up about 15 years ago quoting a research-based position that over 70% of mergers and acquisitions destroy shareholder value. Your response was that Access Bank was in the 30% category!
The governor shared insights into Wigwe’s planned schedule before the ill-fated crash on Friday, indicating that he was slated to visit London for a board meeting, followed by a trip to the US before returning to Abia.
The abrupt disruption of these plans left Otti questioning the circumstances surrounding Wigwe’s untimely departure.
Wigwe’s impact on Otti extended beyond the business realm, as the late CEO played a pivotal role in encouraging the governor to pursue a career in public service.
Otti expressed the profound sadness intensified by the loss of Wigwe’s wife and son, individuals who rarely accompanied him in his travels.
- “A few years ago, when a group of friends and I were working on a banking license, you drove to my house unannounced and insisted,
- “Alex, I’m glad you are working on a new bank, but I came to tell you that you should not run the bank. You have finished with banking; we need you in Abia and Abia needs you. We must get some of us that dare to go into public office, and you must remain there!” Since then, you have been consistent in your support.”
Expressing the depth of his sorrow, Otti described the current situation as one of the saddest moments in his life.
The tragic inclusion of Chizoba and Chizzy, who seldom travelled with Wigwe, in the ill-fated chopper intensified the governor’s struggle to comprehend the reality of the situation.
Describing Wigwe’s passing as an overwhelmingly significant loss, Otti offered prayers for the souls of the departed, hoping they find eternal rest.