Access bank becomes holding company, appoints Ogbonna as new MD

Access bank becomes holding company, appoints Ogbonna as new MD

Access Bank Plc has announced the successful completion of its restructuring into a Holding Company structure (Holdco) known as Access Holdings Plc.

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Access Bank Plc has announced the successful completion of its restructuring into a Holding Company structure (Holdco) known as Access Holdings Plc.

In a notification to the Nigerian Exchange (NGX) Limited on Monday, 28 March, the company said, Bababode Osunkoya would be the chairman while Herbert Wigwe would remain as the group managing director and chief executive officer of Access Holdings Plc.

For the banking subsidiary, Roosevelt Ogbonna has been appointed as the managing director/CEO, Victor Etuokwu as deputy managing director (North), and Chizoma Okoli, deputy managing director (South).

Under the new re-organization, Access Holding Company Plc would serve as the parent company for the group Access Bank Nigeria and its many subsidiaries.

The parent company now holds 100 percent shares of Access Bank Nigeria and 100 percent shares of all non-banking subsidiaries of the bank. While Access Bank Nigeria now owns all its banking subsidiaries (15 in total) and all its three representative offices in India, China, and Lebanon.

Other members of Access Holdings Plc board are: Mr. Abubakar Jimoh (Independent Non-Executive Director), Mrs. Fatimah Bello-Ismail (Independent Non-Executive Director), Mrs. Ojinika Olaghere (Non-Executive Director), Mr. Olusegun Ogbonnewo (Non-Executive Director), Mr. Roosevelt Ogbonna (Non-Executive Director), Mr. Oluseyi Kumapayi (Non-Executive Director) and Ms. Bolaji Olaitan Agbede (Executive Director).

Roosevelt Ogbonna, the new managing director of Access Bank Nigeria, until his appointment, was the deputy managing director of Access Bank Plc. Ogbonna was appointed Executive Director of Commercial Banking Division in 2013 and became Group Deputy Managing Director in 2017. He has over 20 years of experience in banking, cutting across Treasury, Commercial and Corporate Banking.

He joined Access Bank in 2002 as a Manager from Guaranty Trust Bank Plc. He is a Fellow of the Institute of Chartered Accountants of Nigeria and holds a second-class upper degree in Banking and Finance from the University of Nigeria, Nsukka. He is also a Chartered Financial Analyst and has attended Executive Management Development Programmes in several leading institutions.

Ogbonna represents the Bank on the boards of Access Bank (Zambia) Ltd, Central Securities Clearing System Plc, Africa Finance Corporation, and The Access Bank (UK) Limited.

Herbert Wigwe, the new Access Holdings CEO, started his professional career with Coopers & Lybrand Associates, an international firm of Chartered Accountants. He spent over 10 years at Guaranty Trust Bank Plc where he managed several portfolios, including financial institutions, large corporates, and multinationals.

He left Guaranty Trust Bank as an Executive Director to co-lead the transformation of Access Bank Plc in March 2002 as Deputy Managing Director. He was appointed Group Managing Director/CEO effective January 1, 2014.

An alumnus of the Harvard Business School Executive Management Programme. He holds a master’s degree in Banking and International Finance from the University College of North Wales, a master’s degree in Financial Economics from the University of London, and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).