Wema Bank Plc has surpassed the recapitalisation requirements set by the Central Bank of Nigeria, securing its national banking licence and strengthening its position in the country’s financial sector.
The bank disclosed that its total qualifying capital rose to N264.7bn following the successful completion of a N150bn rights issue and a N50bn special placement in 2025, exceeding the regulatory minimum for national banks.
The exercise was concluded six months ahead of the apex bank’s deadline, reflecting what analysts described as strong investor confidence and effective capital planning.
The Central Bank of Nigeria had in March 2024 introduced a recapitalisation programme requiring national banks to maintain a minimum capital base of N200bn as part of efforts to enhance financial system stability and resilience.
Earlier in April 2026, the regulator confirmed that Wema Bank was among financial institutions that successfully completed the recapitalisation process, with the lender ranking among the select group of national banks that met and exceeded the requirement.
Managing Director/Chief Executive Officer, Moruf Oseni, described the development as a major milestone in the bank’s growth journey.
“The successful completion of our recapitalisation is a strong validation of our strategy and the confidence our shareholders have in our vision. We have not only met but exceeded the requirements,” he said.
The bank noted that the strengthened capital base would enhance its capacity to expand operations, support customers and deepen its market presence across key segments, including retail, SMEs and corporate banking.
It added that the milestone positions the lender for increased competitiveness, improved access to credit delivery and enhanced digital banking services.
Wema Bank, which launched Africa’s first fully digital bank, ALAT, said it would continue to prioritise innovation and customer-centric solutions as part of its long-term strategy.
Analysts said the bank’s ability to raise capital largely from existing shareholders underscores sustained investor trust and reflects its improved financial standing since regaining its national licence in 2015.
They added that banks with stronger capital buffers are better positioned to absorb economic shocks and support growth across critical sectors of the economy.
The lender stated that it remains focused on delivering sustainable value to stakeholders while playing a more active role in financing economic development.
With its recapitalisation target achieved, market observers say Wema Bank is now better placed to compete effectively and expand its footprint within Nigeria’s evolving banking landscape.