Tengen Holdings (Mauritius) Limited, a company co-founded by the non-executive chairman of Access Holdings Aigboje Aig-Imoukhuede and the late former CEO of Access Holdings Herbert Wigwe, has acquired about 59.403 million shares of Access Holdings valued at N1.012 billion.
The Mauritian-incorporated company began the move on May 28 by buying 45 million units of shares at N17 per share, according to filings on the NGX website.
On May 30, the firm bought additional 14,402,633 units at N17.20 per share.
Aig-Imoukhuede and Wigwe jointly founded Tengen Holdings in December 2013 after the former’s exit as the CEO of Access Bank.
Before his death, Wigwe was the largest individual shareholder of Access Holdings with a 3.72% shareholding in the group. Aig-Imoukhuede held no direct shareholding in the group.
The second largest substantial shareholder in the group, following Stanbic Nominees, is Coronation Trustees Tengen Mauritius. This entity, associated with Tengen Holdings (Mauritius) Limited, holds a 7.11% stake acquired in 2023, reports Nairametrics.
Tengen (Holdings) Limited is a part of the Tengen Family Office incorporated in Nigeria in 2017.
Since Wigwe’s tragic death in a helicopter crash in February, Access Holdings has undergone leadership changes, with Bolaji Agbede stepping in as the acting group chief executive and Aig-Imoukhuede becoming the group’s chairman.
