Access Holdings Names Innocent Ike New GMD/CEO Amid Boardroom Tension

Access Holdings has named Innocent Ike as its new GMD/CEO amid rumoured boardroom tension.

 

NewsOnline Nigeria reports that Access Holdings Plc has appointed Innocent Ike as its new Group Managing Director/Chief Executive Officer, effective August 29, 2025, following regulatory approval.

The announcement comes in the wake of the sudden resignation of Roosevelt Ogbonna from the company’s board earlier this week, a move that has fuelled speculation of boardroom tensions within Nigeria’s largest banking group.

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In a statement signed by Company Secretary Sunday Ekwochi, the HoldCo said Ike’s appointment marks “a new chapter” under the leadership of Chairman Aigboje Aig-Imoukhuede, who returned to head the group following the death of former Group CEO Herbert Wigwe in 2024.

Ike, a banking veteran with over 30 years’ experience, succeeds Bolaji Agbede, who has led the company in an acting capacity for 18 months. Agbede will revert to her role as Executive Director, Business Support, in line with regulatory guidelines.

Agbede has been widely commended for steering the group through a turbulent period, maintaining workforce stability, overseeing a successful ₦351 billion rights issue, and coordinating two annual general meetings.

The Boardroom Tension

Ogbonna, who remains Managing Director/CEO of Access Bank Plc, resigned from the Access Holdings board on August 27 to comply with the Central Bank of Nigeria’s 2023 Corporate Governance Guidelines, which restrict HoldCo boards to a maximum of nine members.

While the company attributed his departure strictly to regulatory compliance, industry observers point to a possible power struggle between Chairman Aig-Imoukhuede and Ogbonna, given Access Bank’s dominance within the group, contributing over 90% of its profits and assets. Critics argue that excluding the bank’s CEO from the HoldCo board reflects a consolidation of control.

However, senior insiders dismissed such claims, stressing that leadership changes were “natural” under a returning co-founder and part of broader efforts to strengthen governance.

Ike’s Credentials

Ike is a graduate of accounting from the University of Lagos, a Fellow of both the Chartered Institute of Bankers of Nigeria (CIBN) and the Institute of Chartered Accountants of Nigeria (ICAN), and a certified IFRS expert.

He previously served as MD/CEO of Polaris Bank (2020–2022), where he launched the award-winning VULTe digital banking platform, and spent a decade at Access Bank overseeing corporate, commercial, and public sector portfolios.

Speaking on his appointment, Ike said:

“I am honoured to take on this role and excited to work alongside the talented team at Access Holdings. I look forward to building on the strong legacies of Herbert Wigwe and Bolaji Agbede, and to delivering exceptional value to shareholders and stakeholders.”

What Next?

With Ike’s confirmation and Ogbonna’s exit from the HoldCo board, analysts say Access Holdings is entering a period of leadership consolidation. The coming months may determine whether the group’s governance dynamics remain stable or whether speculation of deeper rifts proves accurate.