Prime Business Africa
The investment of Herbert Wigwe in Access Holdings has dropped by 8.71 per cent between January 2 and May 29, according to analysis by Prime Business Africa.
Analysis showed that the decline in the late billionaire’s investment represents a loss of N10.54 billion in five months, as Wigwe’s total investment fell to N110.45 billion as of May 29, compared to the N120.99 billion it was valued at on January 2.
Join our WhatsApp ChannelPrime Business Africa gathered that Wigwe holds 201.23 million direct shares and 4.81 billion indirect shares as of December 31, 2024.
A breakdown of his indirect shares showed the investor holds 1.05 billion shares through United Alliance Company of Nig. Ltd, 1.14 billion shares through Trust and Capital Limited, 1.97 billion shares through Coronation Trustees Tengen Mauritius and 641.02 million shares through Tengen Holdings Limited.
Wigwe’s investment in Access Holdings declined after the company’s share value depreciated by 8.71 per cent or N2.1 kobo year-to-date, from N24.10 kobo to N22.
The decline in Access Holdings’ share price cost the shareholders of the lender, including Wigwe, a total of N111.96 billion during the period under review.
Also, it reduced the market value of Access Holdings from N1.28 trillion to N1.17 trillion between January 2 and May 29.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
