SOME minority shareholders of Access Holdings, including a cousin to the late Group Chief Executive of Access Holdings, are demanding the removal of Chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, and Chairman of Access Bank Plc, Mr Paul Usoro (SAN), over breaches of corporate governance and conflicts of interest.
According to information from Access Bank’s third quarter (Q3) of 2025 seen by Economy Post, Mr Iheanyi Wigwe, a first cousin of the late Herbert Wigwe; Dr. Donatus Ogu, Prof. Bond Anyaehie, and Mr. Chukwuma Chukwura – all minority shareholders of Access Bank – are not happy over alleged breaches of corporate governance and conflicts of interest involving Mr. Usoro and Mr. Aigboje Aig-Imoukhuede.
The minority shareholders are unhappy with the handling of shares of late Mr Herbert Wigwe and the conduct of Access Holdings Plc in connection with the rights issue undertaken after his death. They are also unhappy about the administration of Mr Wigwe’s estate.
The representative of the minority shareholders, IPL, sent a latter to Access Holdings dated March 29, 2025, to this effect.
Following the letter, Access Holdings’ Board of Directors resolved to seek an external legal opinion, which culiminated in the engagement of the services of Olaniwun Ajayi LP to commence legal proceedings against the named minority shareholders. Access Holdings sought injunctive relief to restrain them from interfering with the management and operations of Access Holdings Plc, Economy Post gathered.
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An Access Holdings spokesman did not respond to a question regarding the current state of the matter.
Mr Wigwe, a former Group Managing Director/Chief Executive Officer of Access Bank Plc, died on February 9, 2024, in an ill-fated helicopter crash carrying him and his wife, Chizoba; son, Chizzy; and lawyer and former Group Chairman of the Nigerian Exchange Group Plc, Mr Abimbola Ogunbanjo
Estate and will
Since Mr Wigwe died, there have been family disputes over the administration of his property. Wigwe had made a will outside Nigeria covering his personal and real property both inside and outside the country.
His will specified how his estate should be distributed and appointed personal representatives and trustees to manage it.
After his death, however, things began changing. His 90-year-old father, Pastor Shyngle Wigwe, and his cousin, Mr Christian Wigwe, filed legal actions, including a motion in court and caveats at the Probate Registry.
They sought appointment as interim administrators and joint guardians of Wigwe’s minor children pending resolution of the main case.
But on February 6, 2027, Lagos State High Court (Family & Probate Division) dismissed their case.
Justice A.O. Adeyemi dismissed held that their claims were not currently appropriate and similar to issues in the substantive suit.
Justice Adeyemi ruled that the applications for the appointment of interim administrators and guardians were part of the substantive claims, and thus could not be considered at that stage.
“The Contention of Learned Senior Counsel for the Claimants/ Applicants that given the issues involved in this suit, there might be a protracted trial is not only unfounded but also preemptive,” the judge said.
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“This is because the issues involved particularly that of the minor children of the estate have prompted the court to grant an accelerated hearing in this sult from the beginning as shown from the abridged days granted to parties.”
The court upheld the existing estate structure as aligned with the will, with Herbert’s designated representatives – including his daughter Otutochi Wigwe, cousin Uche Wigwe, and business partner Aigboje Aig-Imoukhuede – retaining control for now.
Pastor Shyngle and Christian Wigwe have moved to the appeal court, arguing the judge erred in denying them the interim reliefs they sought.
Some Wigwe relatives have said the dispute is not against the children but about estate management and oversight. His father maintains that he is not fighting over his son’s property.
