Bank Further Exceeds Regulatory Requirements
Wema Bank Plc (Bloomberg: Wema NL) (“Wema” or “the Bank”) is pleased to announce the successful completion of its second tranche ₦50 billion Special Placement, which was fully subscribed.
- ₦50 billion Special Placement 100% subscribed
- Total Qualifying Capital now ₦264 billion, exceeding the ₦200 billion regulatory threshold
- Bank surpasses the CBN’s minimum capital requirement for Commercial Banks with National Authorization
This follows the earlier successful completion of Wema Bank’s ₦150 billion Rights Issue in September 2025. With both tranches concluded, the Bank’s total qualifying capital now stands at ₦264.87 billion — well above the Central Bank of Nigeria’s (CBN) minimum capital requirement for its category.
This milestone reinforces the Bank’s capital management strategy aimed at strengthening its balance sheet, supporting future growth ambitions, and ensuring sustained compliance with regulatory expectations.
Speaking on the development, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, said:
“We are delighted to have received all necessary regulatory approvals for our ₦50 billion Special Placement. This marks another significant step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustainable growth. We deeply appreciate the confidence and support of our shareholders, regulators, and customers as we continue to execute our growth agenda.”
Proceeds from the capital raise will be strategically deployed to accelerate Wema Bank’s digital transformation journey, deepen market penetration across retail, SME, and corporate segments, and boost lending to key productive sectors of the Nigerian economy. It will also fund ongoing investments in technology and human capital development, further enhancing operational efficiency and service delivery.
Wema Bank remains committed to delivering superior value to shareholders, empowering customers through innovative financial solutions, and contributing meaningfully to Nigeria’s economic growth and financial inclusion drive.