While the investigation of Access bank’s CEO and Group Managing
Director, Herbert Wigwe, is being shielded from the public, it is alleged that
this development could be connected to
his involvement with the former governor
of Abia state Orji Uzor Kalu.
Orji Uzor Kalu, who is
currently serving a prison sentence, was recently found guilty of allegations
on misappropriation of the finances of Abia state while he governed the state.
And this misappropriation was allegedly enabled by the managing
director of Access bank, Herbert Wigwe, who was accused of helping in
laundering the money.
The Bank CEO is denying the charges as investigators strive to
build a solid case against him.
Herbert Wigwe began his
career as a management consultant at Cooper’s and Lybrand, Lagos. Then, after
some time with Cooper’s and Lybrand, he went on to qualify as a chartered
accountant. He later furthered his career at GTBank where he worked for a
decade in their corporate and institutional banking section, and then he rose
to become the executive director in charge of institutional banking. Wigwe and
his business partner, Aigboje Aig-Imoukhuede, came up with the plan to acquire
Access Bank in 2002. The bank, at that time, was a small commercial bank,
ranking at number 65 out of the 89 banks in the country. Under Herbert Wigwe’s
hand, over the years, Access Bank PLC has risen to become one of the top five
banks in Nigeria. Wigwe has remained CEO and Managing director since January
2014. And with his high flying position and years of banking and accounting
experience, he can easily manipulate figures and make dirty money come out as
clean.
The Economic and Financial
Crimes Commission (EFCC) had earlier brought in Wigwe for questioning over the
recovery efforts on Slok Group of companies owned by the former governor Orji
Uzor Kalu. Access Bank PLC, despite denying their CEO’s arrest, had agreed to this
call for questioning, saying it wasn’t a threat to the bank or their CEO but
was a mere formality and should raise no cause for alarm. Mr. Herbert Wigwe was
accused of not only being involved with Orji Uzor Kalu. The EFCC was also after
him for allegedly laundering money for Deziani Madueke, former Nigerian
minister of petroleum; as well as alleged inflation of contracts with Akinwunmi
Ambode, former governor of Lagos state.
Additional information insidebankinghall.com
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