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Herbert Wigwe’s Pragmatic Ideology and Post Covid-19 Banking Strides
Apparently misconstruing the bank MD/CEO’s core message, the media recently alleged that Access Bank Plc, one of Africa’s largest retail bank by retail customer base was embarking on mass sack of workers and closure of branches. This ‘misinformation’ has been appropriately repudiated. But with traditional business models and banking metrics being upended by the post-Covid-19 global operating environment, only audacious innovators in the sector can remain relevant, writes Sani Ahmed.
In his recent best-selling book, “The Age of Agile”, Steve Denning, former program director of knowledge management at the World Bank, discusses a “Copernican revolution” of management that puts the customer at the center, rather than the firm. It was the Polish astronomer Nicolas Copernicus who independently proposed the theory that the Earth revolved around the Sun, not vice versa, a blasphemous idea in the 16th century.
Clearly, banking remains a relationships business. For ages, banks have tried to leverage that relationship to grow and maximize shareholder return. Because of her emphasis on the long term, Access Bank Group, one of Africa’s largest retail banks by retail customer base with proven risk management and capital management capabilities apparently may make decisions and weigh tradeoffs differently from much of her industry competition. This requires an organisational cultural transformation, as Denning argues, and especially at banks that have long been driven by traditional metrics.
Denning who also authored “The Leader’s Guide To Radical Management,” and was Visiting Fellow at All Souls College, Oxford University, UK certainly has his point, especially as the Covid-19 pandemic massively disrupts conventional business playbooks and upends the global economy.
It is against the background of these existential uncertainties and daunting global economic challenges spawned by the new coronavirus scourge that the media reported alleged plans by Access Bank Plc to sack 75 per cent of its staff and shut down 300 branches. Good a thing, the bank has repudiated the allegations as unfounded.
In a statement signed by Mr. Sunday Ekwochi, its Company Secretary, posted on the Nigerian Stock Exchange (NSE) website, the bank clarified that the closure of a bank branch was an action that required the approval of the Central Bank of Nigeria (CBN).
According to the bank, it has not applied for nor obtained the approval of CBN for the closure of its branches as widely speculated. “The bank has only suspended operations in some branches following the directive by the CBN. At the onset of the COVID-19 pandemic lockdown, we suspended in-branch operations at different locations as directed by the CBN and in line with business continuity plans at vulnerable spots; whilst we continued to provide services through our alternative digital platforms,” it stated.
Further the bank stated that, “In line with the phased re-opening of the economy effective May 4 (last week), following the Presidential directives, we will be resuming in-branch services in some of our affected branches in a programmed manner to ensure the health and safety of our employees and customers.
“This is also necessary to provide relevant contingency should there be any incident arising from the pandemic. We deny in its entirety the baseless and twisted speculation that the bank is sacking 75 per cent of its workforce.”
It noted that based on the impact of the COVID-19 pandemic, not all its branches would be fully open for in-branch services until later in the year. “This has made it impossible for many of our outsourced workers to perform duties as usual. We have commenced engagement with various stakeholders with a view to ensuring that they provide the relevant services and optimum manpower as may be required by the bank on an on-going basis,” it added.
The bank, however, assured its esteemed stakeholders that it would continue to ensure that its actions and decisions are guided by fairness, justice, equity and good conscience.
It must be noted however that the bank like any other company has the right to review its operational cost economic realities, especially in post COVID era that has already begun to redefine how businesses operate or will operate going forward. Since its merger with ailing Diamond Bank, Access has neither laid off workers nor closed branches. There is no doubt the bank must at some point have to cut branch proximity to reduce cost. For instance where Access Bank and defunct Diamond Bank were previously operating in close proximity, sometimes a few yards apart, is it economically wise to still retain the two branches now that the two have become one? Of course not. It only make business sense to consolidate the two branches into one to reduce cost. The bank is first and foremost a business concern that must take decisions based on what it assesses it’s in its best business interest. It is not a charity organization but a commercial enterprise.
It was in bad faith in the extreme for some hideous staff to record the internal strategy deliberation and conversation between the Managing Director and senior staff and deliberately twist it out of context to misinform the public to create a social media storm. To many Mr Wigwe was only showing transparency in his handling of issues the bank is bound to address at some point. Transparency is his second nature a virtue lacking in many people in managerial positions across the country.
Wigwe did the right thing in addressing the issues and being transparent about it. He led by personal example and took a 40 percent pay cut.
Currently, many financial institutions world-wide are reviewing banking models. Indeed, more recently the CEO of U.K lender, Barclays Bank says after COVID-19, banking models have changed forever as people get used to working digitally from home making brick and mortar and big offices models unsustainable going forward. In effect, modern banking, not to talk of post covid-19 banking will de-emphasis physical structures and run more on digital templates, platforms and footprints.
From THISDAY sources, it was this new normal that strategic thinking Access CEO Herbert Wigwe attempted to discuss with his financial institution’s staff when clips of his presentation was altered to portray him as going for mass sack of employees. Noted Amaechi Okobi, Head of the banks Corporate Communications, “the presentation was doctored to give a wrong impression and shared on social media in an attempt to blackmail the bank. We are reviewing all options as we need to support all staff through these challenging times while ensuring efficiency and value in our new normal…We will continue to support all staff and stakeholders.”
Access Bank CEO Herbert Wigwe is not the kind of professional who stays tamely at the receiving end of received policy prescriptions. He covets knowledge-driven innovations, proactive engagement with stake-holders, policy makers, fluid operating environments and sure-footed action. These dimensions are boldly mirrored in his nimble leadership of one of the continent’s banking behemoths.
He believes it was because of a lack of appropriate adaptive response to powerful environmental changes eons ago that doomed the lumbering dinosaurs which then roamed the earth. To Wigwe, the Access Bank under his watch is no dinosaur.
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
As the birth pangs of new global business order, midwifed by the Covid-19 pandemic unfurl, only bold and strategic thinking will define survivors. This is the forte of Herbert Wigwe – as he makes critical decisions and weighs game-changing trade-offs. It’s game on.
celebrity radar - gossips
Senator Adeola Yayi Bags Royal Blessings at Foundation Laying of Yewa Traditional Council Secretariat in Ilaro
Senator Adeola Yayi Bags Royal Blessings at Foundation Laying of Yewa Traditional Council Secretariat in Ilaro
…Clerics, Monarchs and Political Leaders Offer Prayers for His Future Aspirations
ILARO-YEWA, OGUN STATE — The ancient town of Ilaro, headquarters of Ogun West Senatorial District, came alive on Tuesday, January 27, 2026, as royal fathers, political leaders, clerics and community stakeholders gathered for the historic foundation-laying ceremony of the proposed ultra-modern Yewa Traditional Council (Obas’) Secretariat Complex.
The culturally symbolic project, facilitated by the Senator representing Ogun West at the National Assembly, Distinguished Senator Solomon Olamilekan Adeola (Yayi), attracted widespread commendation, fervent prayers and royal blessings from traditional rulers across Yewaland, alongside leaders and stalwarts of the All Progressives Congress (APC).
The ceremony officially marked the commencement of construction of what is envisioned as a state-of-the-art secretariat that will serve as the institutional headquarters of the Yewa Traditional Council.
Stakeholders described the initiative as a landmark achievement in institutional development and a clear demonstration of Senator Adeola’s sustained commitment to grassroots development, cultural preservation and inclusive governance in Yewaland.
Royal fathers present unanimously agreed that the project represents a significant step toward strengthening traditional governance and preserving Yewa cultural heritage. According to them, the proposed secretariat will function as a unifying administrative hub, enhance collaboration among monarchs and safeguard the cultural identity of the Yewa people for generations to come.
Speaking at the event, the Olu of Ilaro and Paramount Ruler of Yewaland, His Royal Majesty Oba (Dr.) Kehinde Gbadewole Olugbenle, Asade Agunloye IV, poured encomiums on Senator Adeola for his extensive infrastructural interventions and developmental footprints across Yewaland and Ogun State.
The monarch noted that the senator’s contributions have repositioned Yewaland on the path of meaningful progress, urging political leaders and stakeholders to embrace unity, cooperation and harmony.
He emphasized that such collective resolve remains crucial to the long-standing aspiration of producing a Yewa indigene as Governor of Ogun State in 2027.
Oba Olugbenle also used the occasion to encourage residents to actively participate in the democratic process by obtaining their Permanent Voter’s Cards (PVCs), stressing that civic engagement is the surest route to credible leadership.
“Yayi Is a Unique Son of Yewaland” — Deputy Speaker
The Deputy Speaker of the Ogun State House of Assembly, Rt. Hon. (Chief) Mrs. Lateefat Bolanle Ajayi, described Senator Adeola as a “unique and incomparable son of Yewaland,” whose influence transcends Ogun West to Ogun Central and East.
“We have had good sons in Yewaland, but Yayi stands out. His impact is felt in Abeokuta, Ijebu-Ode and beyond. Charity truly begins at home. Even the blind can see and the deaf can hear. We must support him. Come 2027, we have a candidate,” she declared.
Clerics Offer Prayers for Success
Offering prayers at the ceremony, Imam Mohammed Tijani Jamiu, Chief Imam of Surulere Central Mosque, Ilaro-Yewa, prayed for Senator Adeola, the royal fathers of Yewaland and the successful completion of the project.
Similarly, Imam Jamiu Adeniyi Kewulere, Chief Imam of Bibire Central Mosque, Oke-Ola, Ilaro-Yewa, also offered special prayers for peace, progress and divine guidance for all stakeholders.
“A Rare Project of Global Significance” — Yewa South LG Chairman
The Chairman of Yewa South Local Government, Hon. Tunde Ogunshola, described the occasion as one of the happiest moments of his life, noting that the project is unprecedented in scope and cultural significance
.
“This traditional council building is rare, even globally. It is being realized through the support of Governor Prince Dapo Abiodun and facilitated by Senator Adeola. When completed, it will stand as a lasting symbol of our heritage,” he said.
The Ogun State Chairman of Cultural Development, Hon. Olayiwola Taiwo, also hailed the project as a major turnaround for Ogun West, a zone he said had endured years of infrastructural neglect.
“This is a remarkable development. Senator Adeola is truly God-sent to Yewaland,” he stated.
Royal fathers including the Olofin Adimula of Ado-Odo, Oba Idris Olusola Lamidi Osolo, the Abepa of Joga-Orile, Oba Adeyemi Adekeye, and the Onimeko of Imeko, Oba Benjamin Olanite, all expressed confidence that greater projects linked to Senator Adeola would continue to materialize.
A retired Director-General in the Ogun State Civil Service, Mr. Michael Babatunde Ajayi, likened the proposed complex to the Obas’ Secretariat in Abeokuta, noting that it would reduce the need for monarchs in Yewaland to travel to the state capital for meetings.
“This will be the first of its kind in Yewaland. Kudos to Senator Adeola, whose impact is felt across Ogun State,” he said.
APC Leaders Call for Political Mobilisation
The Ogun West APC Chairman, Alhaji Azeez Adisa (Ekwume), alongside party leaders and community stakeholders, described Senator Adeola’s interventions as purposeful and impactful.
They urged party members to consolidate these gains by strengthening party structures and participating actively in voter registration and mop-up exercises, noting that broad-based participation is essential for electoral success.
Anglican Bishop Describes Project as Timely
Speaking with journalists, the Diocesan Bishop of the Anglican Communion, Rt. Revd. M.A. Oluwarohunbi, PhD, described the project as timely and symbolic, adding that it would enhance the role of traditional rulers in governance.
“This is a very important day in the history of Ilaro and Yewaland. The proposed complex will be an ultra-modern edifice befitting our royal fathers,” he said.
He also prayed for Senator Adeola’s continued strength and the realization of his future aspirations.
At the climax of the event, Oba Olugbenle, alongside other eminent kabiyesis, offered royal prayers and blessings for President Bola Ahmed Tinubu, Governor Prince Dapo Abiodun, Senator Solomon Adeola Yayi, and other political office holders across Ogun West and Nigeria, seeking divine wisdom, protection and success in governance.
The well-attended ceremony drew a diverse audience, including revered monarchs from across Yewaland, political leaders, community stakeholders and religious representatives from Christianity, Islam and traditional institutions.
Members of the League of Yewa-Awori Media Practitioners (LOYAMP) were also prominently represented, led by their National Coordinator, Otunba AbuSatar Idowu Hamed.
The colourful event concluded with the formal laying of the foundation stone by royal fathers and distinguished guests, symbolically ushering in a new chapter in the institutional development and cultural renaissance of Yewaland—an occasion many described as another defining milestone in Senator Adeola Yayi’s growing legacy of service and development.
Courtesy: League of Yewa-Awori Media Practitioners (LOYAMP)
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Shadows of Greed: Alison‑Madueke’s UK Corruption Trial and the Cost of Power
Shadows of Greed: Alison‑Madueke’s UK Corruption Trial and the Cost of Power
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
When today’s headlines speak of corruption, they often do so as a distant abstraction as a vague moral failure with little bearing on everyday life. But the unfolding corruption trial of Diezani Alison‑Madueke in a London court throws into glaring relief the real, human and systemic consequences of unchecked power merged with self‑interest. This is not merely the story of an individual on trial; it is a lens through which the world must scrutinise the fragile intersection of governance, resource wealth and public trust.
Diezani Alison‑Madueke, once Nigeria’s Minister of Petroleum Resources and later the first woman president of the Organisation of the Petroleum Exporting Countries (OPEC), now stands accused before Britain’s Southwark Crown Court of multiple counts of bribery and conspiracy. The accusations against her (which she vehemently denies) paint a portrait of opulence allegedly funded through pay‑to‑play politics that ignored the public good and rewarded those who could feed her lavish lifestyle.
A Life in Oil, a Life Under Scrutiny.
Alison‑Madueke’s tenure as petroleum minister, from twenty ten until twenty fifteen, coincided with a period of immense oil revenue for Nigeria, a country sitting atop the largest oil reserves in Africa. Yet that wealth did not translate into broad‑based prosperity for the citizens she was meant to serve. Instead, British prosecutors allege that her privileged access to that sector was exploited for personal gain.
According to court indictments, she is accused of accepting bribes not in vague promises, but in concrete, high‑value luxury benefits and including cash, chauffeur‑driven vehicles, private jet travel, the use of multiple high‑end properties in London, funded renovations, personal household staff and even costly designer goods purchased at establishments like Harrods and Louis Vuitton. Prosecutors told the court these were not mere gifts, but “financial or other advantages” given by industry players “who clearly believed she would use her influence to favour them.”
The former minister, now sixty‑five, has pleaded not guilty to all charges. Alongside her in the dock are two co‑defendants: oil executive Olatimbo Ayinde and her brother, Doye Agama, both of whom deny the charges connected to the same alleged bribery scheme.
The Anatomy of Allegations.
What makes this trial especially significant is the detail and scale of the alleged benefits. Prosecutors have asserted that Alison‑Madueke was offered:
Access
to luxury homes and private residences in London, bought and maintained by associates seeking lucrative Nigerian contracts.
At least a six‑figure sum in direct cash payments.
Private jet flights and schooling fees for her children.
Vast quantities of luxury goods and services from upscale retailers.
While the prosecution concedes it has not yet produced direct evidence that she awarded specific contracts to individuals who should not have had them, it maintains that the acceptance of such benefits by a public official who oversaw multi‑billion‑dollar contracts is inherently improper and contrary to fundamental principles of public service.
Voices of Accountability.
The allegations have drawn sharp commentary from observers worldwide who see the trial as emblematic of broader governance challenges across resource‑rich nations.
Nigerian social justice advocate Aisha Bello has observed, “Corruption is not a peripheral defect in governance but a corrosive disease that accelerates inequality. When leaders treat public office as a gateway to private treasure, citizens pay with lost opportunities and diminished hope.”
Similarly, Professor John Githongo, a renowned anti‑corruption scholar, argues that “Transparency and accountability are not optional extras in public administration; they are indispensable pillars of a just society. When the public good is subverted for private gain, the very fabric of trust unravels.”
These sentiments resonate deeply in contexts where natural wealth exists alongside persistent challenges in education, healthcare and infrastructure also illustrating that corruption is not an isolated moral failing, but a fundamental impediment to development.
Corruption Beyond Borders.
What makes this case notable on the global stage is not just its connection to a former minister, but its international footprint. The United Kingdom’s National Crime Agency (NCA) has taken up the case because many of the alleged transactions (the properties, cash flows, and luxury perks) touched British jurisdiction. This underlines a critical truth: corruption today is not contained by national boundaries. Illicit financial flows, luxury goods, and asset holding often travel across continents, making international cooperation essential in pursuit of justice.
Andy Kelly, head of the NCA’s International Corruption Unit, stated during earlier proceedings that investigations revealed “financial rewards” accepted by Alison‑Madueke that were “suspected to relate to the awarding of multi‑million‑pound contracts.” He emphasised that such impropriety has “devastating consequences for developing nations.”
This collaborative legal action reflects a growing global consensus: no public official, regardless of stature, should be beyond accountability. When a former head of state institutions is brought before a foreign court, it is not just a legal milestone but it is a moral affirmation of shared values in the rule of law.
The Nigerian Context.
In Nigeria, the oil sector has long been both a blessing and a burden. Despite generating huge revenues, mismanagement and corruption have often undermined potential gains for the wider population. A 2023 report by Nigeria’s statistics agency ranked corruption as one of the most significant challenges facing the country. It is a sobering backdrop that shapes how this trial is interpreted at home and abroad.
Former officials and critics alike have noted that transparency in governance is not merely a matter of legality but one of national dignity. As legal scholar Dr. Funke Adekola puts it, “When leaders betray public trust, they erode the very essence of citizenship. Restoring that trust requires not just trials, but systemic reform in values and institutions.”
What Lies Ahead.
The trial, expected to stretch over several months of testimony and evidence examination, is itself a test of judicial endurance and political will. It presents complex questions about proof, credibility, and moral accountability. Yet beyond the sterile halls of courtrooms, its wider implications reverberate in global public discourse about how nations manage wealth and how societies hold leaders accountable.
For ordinary citizens around the world, this case is riveting not because of luxury houses or private jets, but because it forces a collective reckoning: What price should a society pay when those entrusted with public resources place personal enrichment above national welfare?
Summative Insight.
As Diezani Alison‑Madueke’s trial unfolds before the world’s eyes, it stands as a stark reminder that the fight against corruption must be relentless and unflinching. It exposes the corrosive effects of unethical conduct at the highest levels of power and underscores the necessity of accountability, irrespective of nationality or office.
In the final analysis, justice is not only about punishment, but about restoring faith in the systems meant to protect the common good. As the British court hears testimony and as evidence is meticulously weighed, the world watches a profound test of justice, one that could shape how future generations understand leadership, integrity and the true cost of power.
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