The ICPC has announced an investigation into 106 London properties linked to the late Access Bank CEO Herbert Wigwe. Authorities aim to reveal the true owners behind offshore shell companies
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) may be launching a major investigation into 106 London properties linked to the late Herbert Wigwe, former Group CEO of Access Holdings Plc, a source has disclosed.
This follows revelations by British publication The Londoner highlighting Wigwe’s extensive overseas real estate holdings.
The report, based on data compiled by Tax Policy Associates’ Dan Neidle, places Wigwe seventh among London’s largest overseas property owners, surpassing royals, industrialists, and foreign oligarchs.
The findings were made possible by a 2022 UK law requiring overseas entities to declare their beneficial owners.
None of Wigwe’s 106 properties were registered in his personal name.
Instead, they were held through shell companies in secrecy jurisdictions including Jersey, Guernsey, and the British Virgin Islands. Many of the listed beneficiaries remain unnamed, raising concerns over financial transparency and potential use of these structures to obscure wealth.
UK company records previously linked Wigwe to a single address on The Bishops Avenue in North London, known for its billionaire residences, where he was listed as director of Carmel Gate Ltd in 2012.
The latest revelations show a far more extensive property network spanning 106 houses.
At the time of his death in a helicopter crash near the California-Nevada border on February 9, 2024, Wigwe held 2.59 billion shares in Access Holdings, valued at ₦65.3 billion.
Of these, 1.26 billion shares were held indirectly through Coronation Trustees Tengen Mauritius. His wealth was managed by Tengen Family Office in Ikoyi, Lagos, alongside his long-time partner Aigboje Aig-Imoukhuede.
Following his death, legal disputes erupted over his estate.
His father, Pastor Shyngle Wigwe, and cousin Christian Wigwe challenged his children’s claims, while PwC and KPMG auditors were deployed to scrutinize financial records. Lagos High Court granted guardianship of minor siblings to Wigwe’s eldest daughter Tochi, though the decision was appealed.
Authorities stress that uncovering the unnamed beneficiaries of the 106 London properties could shed light on wealth flows among Nigeria’s elite and public officeholders.
While Wigwe’s philanthropic contributions, including charity schools and Wigwe University, remain, they do not clarify the movement of funds through offshore accounts and shell companies.
The investigation, if carried out, will underscore growing scrutiny over financial transparency and accountability in Nigeria.
Analysts note that offshore structures often conceal vast wealth, and regulatory oversight may now bring clarity to previously hidden ownership.
While Wigwe cannot answer questions posthumously, the financial structures he established remain.
Authorities now face the task of determining who ultimately benefited from these overseas holdings and whether public officials were involved.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator and a recipient of the D9112 Superstar Icon Award, who writes ruthlessly about pop culture, religion, politics and entertainment.
