Hebert Wigwe, Access Bank GMD buys more 50m shares

Hebert Wigwe, Group Managing Director of Access Holdings, has acquired 50 million shares to solidify his position as the bank’s dominant shareholder.
The transaction was disclosed in a notification of insider trading to the Nigerian Exchange Limited.

Sunday Ekwochi, the company’s secretary, signed.

The 50 million units of Access Holdings Plc were purchased for N762.5 million at N15.25 per share.Wigwe obtained the shares through his firm, Tengen Holdings (Mauritius) Limited.

Since April, when he acquired around 1.13 billion units, the bank’s GMD has been buying more shares. His holdings in are distributed among many organisations.

His recent barrage of share acquisitions follows significant growth posted in the bank’s recent financial statements. In its unaudited Q1 results, Access Holdings grew Interest income by 46.4 percent to N254.22 billion in Q1, 2023, from N173.688 billion in the corresponding period of 2022.