Business
JUST IN: Access Bank’s Herbert Wigwe, Wife, Son’s Funeral To Hold March 4 – 10, 2024

Plans to honour the lives of Herbert Wigwe (1966 – 2024), his wife and son span from March 4 to March 10, 2024, as detailed in a schedule obtained by Ohibaba.com.
The somber events include various ceremonies and services to pay tribute to the departed souls.
Monday, March 4, 2024 marks the Bankers Committee’s Celebration of Herbert, followed by a Service of Songs for Chizzy on Tuesday morning, March 5, 2024 and another Service of Songs for the deceased Wigwes in the evening of the same day.
On Wednesday March 6, from 11:00 am to 3:00 pm, a commemoration event will celebrate Herbert’s impactful contributions in the Social Impact Space, followed by an Evening Service of Songs for Herbert at Redeemed Christian Church, City of David Parish.
Thursday, March 7 is dedicated to a Service of Songs at Herbert’s Dad’s parish, along with the somber tasks of traveling to PH for Chizzy’s funeral service and interment, as well as holding Service of Songs for Herbert and his wife.
According to the schedule, Friday, March 8 is designated for the final farewell, with Funeral services and interments planned for both Herbert & Mrs. Wigwe.
Saturday, March 9 will be a day to receive guests, while Sunday, March 10 will culminate in a Thanksgiving Service to honor the lives and legacies of the departed.
Herbert Onyewumbu Wigwe, a revered Nigerian banker and entrepreneur, passed away at the age of 57. As the CEO of Access Holdings Plc and former Group Managing Director/CEO of Access Bank Plc, his leadership transformed a small commercial bank into a global financial institution.
Born on August 15, 1966, to Ikwerre parents from Omueke Isiokpo in Rivers State, Herbert attended St. Gregory’s College in Lagos for his secondary education. He later graduated with a degree in accountancy from the University of Nigeria, Nsukka, in 1987. Herbert Wigwe’s legacy encompasses not only his professional achievements but also his philanthropy and visionary leadership.

The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.
A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.
Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.
The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.
Business
Trump Imposes 15% tariff on Nigerian Imports
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.

US President Donald Trump has approved a 15 percent import tariff on Nigeria and dozens of other countries.
The White House announced the implementation of the new reciprocal tariff rates on Thursday.
In April, Trump imposed a 14% tariff on Nigerian imports, citing the need for fairer trade terms.
That move was followed by a 90 – day grace period to allow time for bilateral trade negotiations, pushing the final decision deadline to August 1.
However, the majority of talks failed to result in new trade agreements.
As a result, the new tariff rates are now being implemented, with Nigeria among dozens of countries facing increased duties under the revised plan.
African countries, including Nigeria, were unable to secure individual trade deals with the United States despite urgent efforts from both sides.
During the negotiation window, Trump also reintroduced travel restrictions targeting several African nations. Though Nigeria was initially exempt, it was later added to the list as the policy evolved.
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.
Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
More severe penalties include 25–41% tariffs for countries like India, South Africa, Iraq, and Syria.
Switzerland faces a steep 39% duty, while Laos and Myanmar are hit with 40%.Syria tops the list at 41%.
Meanwhile, negotiations are still ongoing with China, Washington’s main trade rival.
Canada is facing a 35% tariff, while Mexico was hit with a trio of levies, including a 50% duty on metals. Brazil, previously under a 10% tariff, was slapped with an additional 40% charge on Thursday, bringing its total to 50%.
Business
EU accuses online giant Temu of selling ‘illegal’ products
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.

The European Union accused Chinese-founded online shopping giant Temu on Monday of breaking the bloc’s digital rules by not “properly” assessing the risks of illegal products.
AFP reports that TEMU, wildly popular in the European Union despite only having entered the continent’s market in 2023, Temu has 93.7 million average monthly active users in the 27- country bloc.
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.
Evidence showed that there is a high risk for consumers in the EU to encounter illegal products on the platform,” the European Commission said in its preliminary finding.
It pointed to a mystery shopping exercise that found consumers were “very likely to find non-compliant products among the offer, such as baby toys and small electronics.”
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