The sudden death of Herbert Wigwe, before Saturday, the Chief Executive Officer (CEO) of Access Holdings, has taken a toll on the financial institution, as investors on the stock market of the Nigerian Exchange Ltd. (NGX) reacted on Monday by reducing its share price.
Though the corporation led the activity chart in volume with 24.90 million shares that traded at N575.10 million, its shares, which opened at N24.75 per share, lost 6.26 per cent, closing at N23.20 per share.
The Nation, quoted David Adonri, Vice Chairman, Highcap Securities Ltd., who adduced reasons for the development as saying that the capital market is information -driven.
Stressing that the news of Wigwe’s death was capable enough to affect the price of the company’s equity, he reportedly said: “There is no cause for alarm because Access Holdings is well structured with good corporate governance and security on the ground.”