A fierce legal dispute has erupted within the family of the late Nigerian banking magnate, Herbert Wigwe, as his siblings and surviving children battle for control over his multi-billion-dollar estate.
The conflict, driven by allegations of secrecy and greed, emerged following the tragic February 2024 helicopter crash in California that claimed the lives of Wigwe, his wife Chizoba, and their son Chizi, according to an Arise News documentary report.
Herbert Wigwe, co-founder of Access Bank and a key figure in African finance, left behind an expansive portfolio in banking, insurance, and education. His 2013 will designated his four surviving children—Tochi (26), David, Hannah, and Okachi—as primary beneficiaries. While provisions were made for his elderly parents, no explicit shares were allocated to his siblings, a decision that has sparked tensions and legal challenges from his extended family.
Key Allegations
Extended Family’s Claims:
Led by his sister, Joyce Wigwe, the siblings accuse Wigwe’s business partner, Aigboje Aig-Imoukhuede, of withholding financial information and mismanaging the estate.
They allege that Aig-Imoukhuede suspended financial support to Herbert’s parents, Pastor Shyngle and Stella Wigwe, amid suspicions that the funds were being used to pursue legal action against him.
A caveat has been filed in the Lagos High Court, challenging the validity of Wigwe’s will, arguing that it was improperly lodged in Nigeria despite being executed in the United States.
Surviving Children & Business Partners’ Defense:
Wigwe’s eldest daughter, Tochi, who has been appointed estate administrator, along with Aig-Imoukhuede, insists that the estate is being responsibly managed for the long-term benefit of Wigwe’s heirs.
Financial records confirm that over ₦280 million has been disbursed to the siblings for medical bills, school fees, and allowances since Wigwe’s passing.
Shares under Wigwe’s trusts within Access Holdings surged by ₦17.77 billion in 2024, showcasing the commitment of his business associates to preserving the estate’s value.
Legal Battles
The Lagos High Court granted Tochi guardianship over her minor siblings, but her grandfather, Shyngle Wigwe, has appealed the decision, claiming she lacks the necessary experience.
The family’s lawsuit (Suit No. 7735FPM) accuses Aig-Imoukhuede of conspiring to install Herbert’s cousin, Uche Wigwe, as a “puppet” guardian over the estate.
Financial Disclosures
Independent audits by PwC and KPMG have revealed Wigwe’s holdings, including 21.2 million direct shares in Access Holdings and 2.38 billion indirect shares via Coronation Group.
Payments made to Wigwe’s parents include ₦365 million for private jet charters and ₦1 billion for medical expenses, contradicting allegations of financial neglect.
Family Tensions and Emotional Undertones
Tochi, at 26, faces scrutiny over her capability to oversee the vast empire, with critics citing her youth and emotional state following her parents’ tragic passing.
Family insiders allege deep-seated animosity, with reports that Joyce Wigwe had previously clashed with Herbert over unpaid Swiss school fees, allegedly cursing him during past disputes.
Shyngle Wigwe, aged 90, remains torn between supporting his children’s legal claims and ensuring the financial security of his grandchildren.
Statements from Key Figures
Joyce Wigwe (TV Interview): “How can a 25-year-old, who lost her parents, suddenly navigate this complex empire? We want transparency, not greed.”
Aig-Imoukhuede’s Camp: “Herbert’s legacy is growing. This fight isn’t about money—it’s about respecting his wishes.”
The legal battle raises critical questions about Nigeria’s estate management laws, cultural expectations regarding family wealth distribution, and corporate governance within major financial institutions. With Access Holdings’ shareholders monitoring the dispute, the case may set a precedent for inheritance rights in Nigeria.
Court is expected to rule on the contested will and guardianship appeal in the coming months. Meanwhile, mediators continue to push for a peaceful resolution, though with tensions escalating, the battle over Herbert Wigwe’s legacy could become a drawn-out and divisive affair.
As an African proverb warns, “No one wins when a family fights.”
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