Wema Bank Plc (Bloomberg: Wema NL) (“Wema” or “the Bank”) is pleased to announce the successful completion of the second tranche of its capital raising program — a ₦50 billion Special Placement, which was fully subscribed and has received all necessary regulatory approvals.
This follows the successful conclusion of a ₦150 billion Rights Issue in September 2025. With both tranches completed, Wema Bank’s total qualifying capital now stands at ₦264.87 billion, significantly surpassing the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦200 billion for Commercial Banks with National Authorization.
This achievement represents a key milestone in the Bank’s strategic capital management program, aimed at strengthening its financial base, supporting long-term growth objectives, and ensuring full compliance with evolving regulatory standards.
Commenting on the development, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, said:
> “We are delighted to have secured all requisite approvals for the ₦50 billion special placement. This milestone reinforces our commitment to building a stronger, more resilient financial institution, capable of leveraging emerging opportunities and delivering sustained growth. We are grateful for the trust and continued support of our shareholders, regulators, and customers as we implement our strategic agenda.”
Proceeds from the capital raise will be strategically deployed to accelerate Wema Bank’s digital transformation, expand reach across retail, SME, and corporate banking segments, and boost its lending capacity to key sectors of the Nigerian economy. The funds will also support ongoing investments in technology and talent development — critical to enhancing operational efficiency and customer experience.
Wema Bank remains committed to delivering long-term value to shareholders, empowering customers through innovative financial solutions, and driving inclusive economic growt
h across Nigeria.
