Wema Bank has rewarded 273 customers with a total of ₦17.96 million within the first month of launching Season 5 of its flagship 5 for 5 Rewards campaign, underscoring the growing impact of the initiative and the bank's commitment to rewarding customer loyalty.
The rewards programme, launched on May 2, 2026, as part of Wema Bank's 81st anniversary celebrations, is designed to encourage positive financial habits while providing customers with opportunities to earn cash rewards through regular banking activities.
According to the bank, the latest season introduces a more structured and inclusive framework targeting key customer segments, including youths, women, and mass-market customers, with over ₦170 million earmarked for distribution between May and December 2026.
The campaign began with a special anniversary activation at Ikeja City Mall, where 81 customers received ₦81,000 each, resulting in a total payout of ₦6.56 million on the launch day alone.
Since then, an additional 192 customers have emerged as winners through daily and monthly reward draws, bringing the total number of beneficiaries within the first month to 273.
The youth category recorded significant participation, with 37 students receiving rewards worth ₦4.4 million. This included 20 beneficiaries who received ₦50,000 each through the PocketMoni reward scheme and 17 students awarded ₦200,000 each as tuition support.
The women-focused category also delivered rewards to customers through the bank's #SelfCare initiative, with 12 women receiving ₦150,000 each to support personal development and financial wellbeing.
The mass-market segment produced the highest number of winners during the period. Wema Bank disclosed that 120 customers received daily cash rewards, while 23 customers won ₦200,000 each during the monthly draw, bringing total payouts within the category to ₦5.2 million.
Commenting on the campaign's performance, Wema Bank's Managing Director and Chief Executive Officer, Moruf Oseni, said the initiative reflects the bank's belief that customer loyalty should be rewarded in meaningful and accessible ways.
"At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible. The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities," he said.
According to Oseni, the programme goes beyond rewarding transactions by encouraging responsible financial behaviour and helping customers derive additional value from their banking relationships.
"This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema," he added.
To qualify for the campaign, customers are required to open or reactivate a Wema Bank account, fund it with a minimum of ₦5,000, maintain an average monthly balance of ₦5,000, and complete at least five transactions monthly using the ALAT app, Wema Bank debit cards, ALAT cards, or the bank's *945# banking service.
Industry analysts say reward-driven customer engagement initiatives are becoming increasingly important as banks compete for customer retention, digital adoption, and deeper financial inclusion across Nigeria.
With millions of naira still available for distribution over the coming months, the 5 for 5 Rewards campaign is expected to attract broader participation from customers seeking to benefit from one of the banking industry's largest consumer reward programmes.
The initiative further highlights Wema Bank's strategy of combining digital innovation, customer engagement, and financial inclusion to strengthen its position within Nigeria's increasingly competitive banking sector.