A new investigative report by The Londoner has linked the late Nigerian banking executive, Herbert Onyewumbu Wigwe, former Group Chief Executive Officer of Access Holdings Plc (formerly Access Bank Plc), to the ownership of 106 properties in London, ranking him seventh among billionaire real estate holders in the British capital.
The report, titled “Revealed: The billionaires who really own London,” draws on newly released data concerning overseas ownership of UK real estate. It uncovers the hidden owners behind thousands of properties held through corporate structures and offshore vehicles across the city.
Wigwe’s portfolio places him ahead of several high-profile entities, including the Private Department of the President of the UAE (84 properties), Ashah Joosab (80 properties), and the Washington State Investment Board (51 properties).
Herbert Wigwe, who tragically passed away in a helicopter crash in the United States in February 2024 alongside his wife, son, and former Nigerian Exchange Group Chairman Abimbola Ogunbanjo, built Access Bank into one of Nigeria’s largest and most successful financial institutions.
Under his leadership, the bank expanded significantly through strategic mergers and acquisitions, including the landmark merger with Diamond Bank, cementing its position as a major player in African banking.
The London properties are understood to be held via complex corporate entities, reflecting broader trends of international investment in prime London real estate. The report does not allege any wrongdoing and presents the findings as part of a wider analysis of global wealth flows into the UK property market.
This disclosure adds a new dimension to discussions around Wigwe’s business legacy and the diversification strategies employed by successful African entrepreneurs in global markets. It underscores the growing influence of Nigerian and African capital in international real estate, particularly in high-value cities like London.
Access Holdings Plc has not issued an official comment on the report at the time of this release. The late banker’s family and estate continue to manage his extensive business interests and philanthropic initiatives, including Wigwe University.
Herbert Wigwe was a visionary banker and businessman who transformed Access Bank from a small institution into a leading pan-African financial powerhouse. He was widely respected for his strategic acumen, commitment to innovation in banking, and contributions to Nigeria’s economic development.