The extended family of the late Herbert Wigwe and the children he left behind are locked in a fierce legal and personal battle over his vast wealth. This dispute erupted immediately after his burial, as the benefactor of both warring parties was no longer around to mediate or exert control. At the heart of the conflict is not just money, but deep-seated issues of entitlement, power, and the age-old tension between nuclear and extended family structures in matters of inheritance.
A Well-Planned Legacy
In 2013, Herbert Wigwe drafted a will and deposited it with a U.S. court. This will was later reviewed and updated in 2015, a full nine years before his tragic death. But Wigwe did not stop at a will, he took additional steps to ensure that his wealth was managed according to his wishes.
To that end, in 2017, he established the Tengen Family Office, a financial management institution created specifically to oversee the wealth of its founders, Herbert Wigwe and his longtime business partner, Aigboje Aig-Imoukhuede. Aigboje, who co-founded Access Bank alongside Wigwe, remains the chairman of the bank and was named as a trustee of Wigwe’s will due to the deep trust and friendship they shared.
Beyond their personal relationship, Aigboje’s role as trustee was meant to ensure that Wigwe’s estate was protected and that his assets were managed wisely in the interest of his children.
The Immense Wealth He Left Behind
Herbert Wigwe was a billionaire in naira and a millionaire in dollars. He was the largest individual shareholder of Access Bank, with a 9% stake valued at ₦125 billion. His wealth extended far beyond banking, he had a vast real estate portfolio, a private jet, significant dollar reserves, and was the founder of the prestigious Wigwe University. Among his prized assets was a palatial mansion on Queen Drive, Ikoyi, a property he built but never got to enjoy before his passing.
Even in death, his wealth continues to generate substantial income. His estate received ₦1.1 billion in dividends from Access Bank for the 2024 financial year, money that would have gone to him if he were alive but is now directed toward his children. As long as Access Bank remains profitable, these payments will continue.
A Clear and Unambiguous Will
Wigwe’s will was straightforward and left no room for ambiguity. He explicitly stated that his wealth should be managed by his estate and the family office, with profits and financial benefits to be enjoyed solely by his children. His parents, siblings, or extended family were not included as beneficiaries.
To reinforce this, he appointed two trustees, his close friend and business partner, Aigboje Aig-Imoukhuede, and his trusted cousin, Uche Wigwe, a lawyer. Their job was to execute his will as written and ensure that his wealth served the interests of his children alone.
The Challenge from His Extended Family
Despite the clarity of Wigwe’s instructions, his extended family had different ideas. After his burial last year in Isiokpo, Rivers State, they began making demands, arguing that his children were too young to control the immense fortune left behind. Their primary concerns revolved around Tochi Wigwe, the 26-year-old eldest daughter, who is now the legal heir to her father’s fortune.
Their grievances include:
Tochi living alone in the Ikoyi mansion with house staff.
Her use of private jets for domestic travel, including the one her father left behind.
Her “extravagant” lifestyle, which they believe is inappropriate for someone her age.
To “correct” this perceived imbalance, the extended family demanded:
20% ownership of Wigwe’s estate as their rightful share.
Joint custody of the children, with oversight by their 90-year-old grandfather.
Legal Battles Begin
When their demands were not met, the family tried to pressure Aigboje and Uche, the two trustees, into ceding control. When that failed, they took the matter to the Lagos High Court last year.
The court, after reviewing the evidence, dismissed the case for lack of merit. However, the family was undeterred. Just last week, they filed an appeal, taking the fight to a higher court.
Lessons from the Wigwe Family Feud
This unfolding drama provides a critical lesson on the importance of estate planning and protection against family greed. Herbert Wigwe was a meticulous planner, and his preparation ensured that his children’s inheritance was safeguarded. However, even with a solid will and a structured family office, greedy relatives can still attempt to undermine a wealthy individual’s last wishes.
Key takeaways from this saga include:
- Write a Will – Every wealthy individual should ensure they have a properly structured will that clearly defines the distribution of their wealth.
- Establish a Family Office – A private institution to manage wealth ensures financial stability and prevents external interference.
- Appoint Trustworthy Trustees – The selection of Aigboje Aig-Imoukhuede and Uche Wigwe as trustees has proven to be one of the best decisions Herbert made. Their refusal to cave in to pressure has preserved his legacy.
- Protect Your Children’s Future – Even if they are young, your wealth should be structured to benefit them rather than being hijacked by extended relatives.
- Expect Legal Battles – No matter how clear a will is, relatives may still attempt to fight for a share, requiring robust legal defenses.
Herbert Wigwe’s case is a stark reminder that in Nigeria, a man’s wealth is often seen as communal property, even when legally assigned to his children. Greedy family members will try to claim a share, but careful estate planning can help prevent them from succeeding.
Herbert Wigwe’s greatest gift to his children was not just his wealth, but the legal and financial structures he left behind to protect it. This is the ultimate lesson for every wealthy individual: plan wisely, so your children do not have to fight to keep what is rightfully theirs.
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