Wigwe: One Year Later, NTSB Yet to Provide Cause of Helicopter Crash

Exactly one year after the crash of a helicopter that was carrying Herbert Wigwe the CEO (at the time) of one of Nigeria’s largest banks, Access Holdings and five others, including his wife and son, there isn’t much information about the actual cause of the tragedy.

The U.S National Transportation Safety Board (NTSB) is still investigating the cause of the accident and is yet to release a final report.

In February 2024, the agency released a preliminary investigation report that outlined the helicopter’s flight path and provided details about wreckage that was strewn across 100 yards (91 meters) of desert scrub.

The charter company, Orbic Air LLC’s helicopter left Palm Springs Airport around 8:45 p.m. on Feb. 9, 2024 and was traveling to Boulder City, Nevada, which is about 26 miles (40 kilometers) southeast of Las Vegas, where the Kansas City Chiefs and the San Francisco 49ers were set to play that Sunday in the Super Bowl.

Flight-tracking data shows the helicopter was following the interstate until it made a slight right turn, turning south of the roadway, where it then descended gradually and increased in speed, according to the NTSB.

The wreckage site shows the helicopter hit the ground with its nose low at a right-bank angle. Aside from the fire, witnesses also reported downed power lines, the NTSB has said.

Clipping the power lines, which may have been hard for the pilot to see in the dark, could have caused the crash, said Al Diehl, a former NTSB investigator.

Orbic Air Safety Issues

The charter company, Orbic Air LLC had a history of safety concerns as well as failure of Federal Aviation Administration (FAA) drug testing of its safety-sensitive employees.

The FAA levied a $3,300 civil penalty against Orbic Air in June 2018 for alleged violations of its drug-and-alcohol testing regulations related to random testing of existing employees, documents seen by MoneyCentral show. according to a MoneyCentral report.

In 2013, the mother of a man killed when a Orbic Air helicopter crashed during a shoot for a reality television show claimed in a wrongful death lawsuit that the aircraft’s operators and producers negligently operated the helicopter.

The case’s defendants were Van Nuys Copters and Orbic Air, the companies responsible for the lease of the helicopters.

“Defendants negligently failed to ensure that the Bell 206B helicopter was functionally equipped and capable of operating over such terrain at night under visual meteorological conditions and failed to ensure that it was serviceable for the intended flight,” the suit stated.

Meanwhile in 2022, the company was involved in an incident where one of its aircraft made an emergency landing due to a mechanical issue. Additionally, in 2023, the FAA issued a warning to Orbic Air for non-compliance with safety regulations.

Access Holdings Executing Wigwe’s Vision One Year Later

Herbert Wigwe’s vision was for Access Holdings’ to create a globally connected eco-system, inspired by Africa and the world. The bank today is executing on that vision even though the visionary Wigwe is no more.

Today, Access Holdings’ growth strategy is guided by 3 principles, being Africa’s gateway to the world, the world’s most respected African bank, and the world’s first truly African global brand in the financial services sector.

This means it is powering trade across Africa, with Access Holdings being very selective in the markets it operates in, and guided strictly by the principles of creating value.

Access Holdings’ verticals include: Banking, Payments, Pensions and Consumer lending. In banking, Access Bank is the largest Bank in Nigeria, Access Pension is the fourth largest pension funds administrator or PFA in Nigeria, Access Hydrogen its payment and fintech offering is one of the largest switching companies in the Nigerian financial services ecosystem.

Access Bank is opening a new branch in Hong Kong in its first step of Asian expansion.

“Hong Kong is a pivot point as far as we are concerned into trade flows between Africa, China and the broader region,” Jamie Simmonds, Access Bank UK founding chief executive officer, said in a Bloomberg Television interview Thursday.

“The international arm is critical as we support the increasing footprint of our parents across Africa.”

In December 2024, Access Holdings banking group subsidiary, The Access Bank UK Limited established its first fully owned subsidiary in Malta, The Access Bank Malta Limited.

The banking license application was approved by both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), signaling a significant step in enhancing trade connectivity between Europe and Africa.

Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.

Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc and CEO of the Banking Group, said:

“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’ Gateway to the World. It further enhances our Bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities.”

In December Access Bank Plc offered to acquire Bidvest Bank Holdings Ltd. for about 2.8 billion rand ($159 million) to help Nigeria’s biggest lender by assets expand in South Africa.

Purchasing the lender from Bidvest Group Ltd. takes Access Bank, a unit of Access Holdings Plc, closer to its 2027 goal of becoming one of the continent’s largest lenders.

Access Holdings raised 351 billion naira ($228 million) in a rights offer to boost its capital above a new regulatory threshold as it embarks on an expansion plan.

The lender’s share capital — at 600 billion naira — is now 20% above the minimum required for international banks operating in the West African country, Access Bank said in a statement.

The fresh capital inflow has received regulatory approvals from both the Central Bank of Nigeria and the Securities Exchange Commission, it said.

The fundraising will help Access Bank, controlled by Access Holdings Plc, accelerate its expansion into new markets including Morocco, Egypt and the US and double the share of assets outside its home market by 2027.

The rights offer is part of Access Bank’s plan to raise $1.5 billion to help meet regulatory norms after the central bank ordered large commercial lenders to shore up their capital 10-fold to 500 billion naira by March 2026.

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