After receiving regulatory approval, Access Holdings Plc has appointed Innocent Ike as its substantive Group Managing Director/Chief Executive Officer (GMD/CEO), effective August 29, 2025.
Roosevelt Ogbonna resigned from the company’s board just hours before the move in accordance with new corporate governance regulations.
After former Group CEO Herbert Wigwe passed away in 2024, Aigboje Aig-Imoukhuede took over as chairman, and Ike’s appointment marks the beginning of a new era.
Access Bank’s leadership transition
In recent months, the pace of leadership changes has accelerated.
Seyi Kumapayi, one of the group’s longest-serving directors, resigned from the board earlier this year.
Roosevelt Ogbonna, the managing director of Access Bank, also resigned from the Holdco board more recently to adhere to the Central Bank of Nigeria’s 2023 corporate governance guidelines, which restrict HoldCo boards to nine members.
The leadership structure of Access Holdings is developing as a result of these departures and Ike’s confirmation as the company’s substantive CEO. It reflects initiatives to improve governance, conform to regulations, and set a clear direction for the post-Wigwe era.
Reflection of Bolaji Agbede’s tenure as Access Bank acting CEO
Bolaji Agbede, who has been acting GMD/CEO for the last 18 months, is replaced by Ike. Following the legal requirements for years of experience for the top position, she will resume as Executive Director, Business Support.
Many people have praised Agbede for leading the business through one of its most trying times.
Access successfully held two annual general meetings during her tenure, completed a N351 billion rights issue, and maintained workforce stability—all of which helped stabilise the organisation after Herbert Wigwe’s untimely death.
Chairman Aigboje Aig-Imoukhuede commended her contributions, calling them “invaluable in navigating the company through challenges and opportunities.”
Innocent Ike’s portfolio
Ike has worked in banking and financial services for more than 30 years. He is a certified IFRS expert, a fellow of CIBN and ICAN, and an accounting graduate of the University of Lagos.
During his ten years at Access Bank, he advanced to General Manager, overseeing public, commercial, and corporate portfolios.
Later, he launched VULTe, the bank’s award-winning digital banking platform, while serving as MD/CEO of Polaris Bank (2020–2022).
“I am honoured to take on this role and excited to work alongside the talented team at Access Holdings,” Ike said.
“I look forward to building on the strong legacy established by Herbert Wigwe and Bolaji Agbede, and driving our vision forward to deliver exceptional value to shareholders and stakeholders.”
Roosevelt Ogbonna’s exit from Access Bank
Ike’s appointment comes shortly after Roosevelt Ogbonna resigned from the HoldCo board, which caused a stir in the banking industry.
One of the sector’s most well-known executives and a veteran of Access Bank, Ogbonna’s exit sparked rumours of internal strife.
However, according to people close to him, the board decided to follow CBN regulations out of necessity rather than animosity.
His absence from the HoldCo board is especially noteworthy because Access Bank, which he leads, is responsible for 95 per cent of total assets and over 90 per cent of group revenues.
Access Bank’s expansion
A scheme of arrangement between Access Bank Plc and its shareholders created Access Holdings in 2022.
Since then, the group has expanded into 17 African and international markets, making it one of the continent’s most diversified financial services companies.
The recent leadership changes, starting with Kumapayi’s exit and continuing with Ogbonna’s resignation and Ike’s appointment, represent a turning point in its history.
The primary concern for stakeholders is how Aigboje Aig-Imoukhuede’s reevaluated leadership will balance continuity and the demands of expansion, regulation, and market competition.