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  • Wema Bank unveils digital solution for cooperative societies

    Wema Bank unveils digital solution for cooperative societies

    Wema Bank has officially launched CoopHub, a new digital solution for cooperative societies.

    The groundbreaking platform was unveiled at the launch ceremony held at the weekend to commemorate the 79th anniversary of the Bank.

    CoopHub, the first of its kind in the Nigerian banking industry, is a digital platform designed strategically to transform the way cooperative societies operate by providing tailored solutions that bridge the gaps in the traditional framework of cooperative societies.

    The unique platform insulates cooperative societies against prevalent struggles like manual recordkeeping, limited access to loans, poor communication, insecurity, and other restrictions, supporting them with the solutions needed to not only mitigate these problems but also operate with the utmost efficiency.

    Read Also:Wema Bank: National spread driving customers’ accessibility

    Besides, members of the cooperative societies also enjoy increased access to loans, seamless contribution tracking, secure transactions, and easy communication with the leaders.

    Essentially, CoopHub helps cooperative societies maintain 100% transparency, reliability, and security, with the option of white labelling for a customised experience.

    Disclosing the Bank’s motive for creating CoopHub, Wema Bank’s MD/CEO, Moruf Oseni, highlighted the Bank’s commitment to innovation and customer-centricity.

    “Cooperative Societies have many pain points. As a bank that is committed to empowering lives through innovation, we examined the end-to-end value chain of Cooperative Societies and launched CoopHub to provide solutions that address the pains and headaches in the Cooperative Society experience for both the leaders of these communities and the members. CoopHub is the future of Cooperative Societies and we have designed every detail to address the needs of every player in the Cooperative Society ecosystem and empower these communities for optimal productivity,” he said.

    Delving into the unique features of CoopHub, Solomon Ayodele, Wema Bank’s Head of Innovation, added, “CoopHub is taking Cooperatives to an era where conflicts, stressful physical meetings, mistrust, inadequate capital, poor recordkeeping and inefficient governance are all a thing of the past.

    “To promote community and financial security, CoopHub also offers a three-factor authentication system that ensures that every withdrawal from the Cooperative Society’s account is subject to an approval of three members of the Cooperative Society, including the Admin. We have been very intentional with CoopHub and I encourage every Cooperative Society to come on board and experience the future of Cooperative Societies through CoopHub,” Ayodele concluded.

    CoopHub is now live and open to every Cooperative Society across the world. This futuristic solution is set to not only empower Nigerian lives with increased access to their needs through Cooperative Societies, but also revolutionise Cooperative Society operations for the best.

  • Wema Bank: National spread driving customers’ accessibility

    Wema Bank: National spread driving customers’ accessibility

    In the ever-evolving banking landscape, accessibility has become a cornerstone of customer satisfaction and service excellence. With the rapid advancement of technology and shifting consumer expectations, financial institutions must continuously adapt to meet the diverse needs of their clientele.

      For Wema Bank, a pioneer in the country’s banking sector with a rich 79-year legacy, accessibility has been ingrained in its DNA from the outset. Through a myriad of innovative platforms and dedication to customer service, Wema Bank has not only transcended its image as a traditional bank but has also become a beacon of accessibility, particularly catering to the youth, tech-savvy individuals, innovators, and SMEs.

    Accessibility for customers entails ensuring that banking services are readily available and easy to use across various touchpoints, whether physical or digital. It involves removing barriers to access and providing seamless experiences that empower customers to manage their finances conveniently and efficiently. By prioritising accessibility, Wema Bank aims to enhance customer satisfaction, drive loyalty, and foster a strong sense of trust and loyalty among its customer base.

    Establishing itself as a leader in accessibility, Wema Bank has blossomed from its humble beginnings as a regional player into a national powerhouse, boasting an extensive network of over 149 branches and service stations strategically positioned across Nigeria. These branches, strategically located throughout the country, play a crucial role in facilitating access to banking services for customers in both urban centers and remote areas. By providing physical locations where customers can conduct transactions, seek assistance, and access essential banking services, these branches contribute significantly to enhancing accessibility and convenience for Wema Bank customers.

    Wema Bank’s branches serve as hubs for engagement and support, providing personalised assistance and guidance. Trained banking professionals are available at these branches to assist customers with various inquiries, transactions, and account-related tasks. Whether opening a new account, applying for a loan, or seeking financial advice, customers can rely on the expertise and support of branch staff members to meet their banking needs. This personalised service goes a long way in fostering trust and loyalty among customers, enhancing their overall banking experience.

    Also, Wema Bank’s branches serve as hubs for community engagement and outreach, hosting events, workshops, and initiatives aimed at empowering customers and promoting financial literacy.Through these initiatives, Wema Bank strengthens its ties with local communities, demonstrating a commitment to social responsibility and community development. By actively engaging with customers and stakeholders at the grassroots level, the bank builds stronger relationships and fosters a sense of belonging among its customer base.

    However, Wema Bank’s journey towards accessibility extends far beyond its physical branches. The advent of digital banking heralded a new era of accessibility for Wema Bank, culminating in the birth of ALAT, Nigeria’s first fully digital neobank. ALAT, Wema Bank’s digital banking platform, stands at the forefront of redefining accessibility in the digital age by offering customers a revolutionary banking experience right at their fingertips. Launched in 2017, ALAT was designed with accessibility at its core, offering a user-friendly interface and 24/7 access to a myriad of banking services.

    In just a few short years, ALAT has amassed a loyal customer base and garnered widespread acclaim for its innovative approach to banking. With a user-friendly interface and a wide array of features, ALAT by Wema empowers users to manage their finances seamlessly and intuitively, from the comfort of their smartphones and similar electronic devices. Gone are the days of cumbersome paperwork. ALAT brings banking into the digital realm, offering customers unprecedented ease and flexibility in managing their financial affairs.

    Read Also: Banks await CBN’s decision on submitted recapitalisation plans

    One of ALAT’s key features is its ability to facilitate account openings with remarkable simplicity. Through the ALAT app, users can initiate the account opening process with just a few taps on their screens, eliminating the need for time-consuming visits to physical bank branches. This streamlined approach not only saves customers valuable time but also enhances accessibility by removing barriers to entry.

    Furthermore, ALAT’s suite of services caters to the diverse needs of modern consumers, ensuring that banking tasks can be completed with ease and efficiency. Whether it’s checking account balances, transferring funds to family and friends, booking flights, getting loans, making international transactions, or paying bills, ALAT provides a comprehensive range of features that enable users to manage their finances seamlessly.

    The platform’s intuitive interface makes navigation a breeze, while its robust security measures provide peace of mind to users. With ALAT by Wema, customers no longer have to navigate complex banking processes or wait in long queues; instead, they can access essential financial services with just a few taps on their smartphones, anytime and anywhere.

    By leveraging the power of technology, Wema Bank, through ALAT, has transformed the way individuals interact with their finances, making banking more convenient, efficient, and inclusive than ever before.

    The bank’s dedication to accessibility is further exemplified by its USSD code *945#, which has become a game-changer in the banking sector. This innovative solution empowers customers to manage their finances on the go with ease. By simply dialing *945# on their mobile devices, customers gain access to a wide range of banking functionalities, from account openings, airtime top-ups to bill payments and fund transfers.

    This streamlined approach not only saves time but also enhances convenience, allowing customers to perform transactions at any time and from any location without the need for specialised apps or internet connectivity. As a result, the *945# USSD code democratises access to banking services, promoting financial inclusion by bridging the gap between traditional banking channels and digital technology.

    In regions where internet penetration is limited or unreliable, USSD technology offers a lifeline for accessing banking services. By leveraging its mobile network infrastructure, Wema Bank extends its reach to customers in remote or underserved areas, enabling them to participate in the formal financial system.

  • Wema Bank pledges innovation as it marks 79

    Wema Bank pledges innovation as it marks 79

    Wema Bank has reaffirmed its commitment to empowering lives through innovation and exceeding customers’ expectations with unparalleled banking experiences tailored to their needs.

    Its MD/CEO, Mr. Moruf Oseni, who made the promise during the announcement of a joint celebration marking the Bank’s 79th years and ALAT’s seven years anniversaries.

    This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

    Oseni said the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

    Read Also: Wema Bank marks 79 years of operation

    “At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.

    “As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers’ expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights,” he said.

    Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

  • Wema Bank marks 79 years of operation

    Wema Bank marks 79 years of operation

    Wema Bank yesterday, announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

    Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria. 

    Read Also: Wema Bank plans N70m cash spend on startups, innovators

    According to the MD/CEO Wema Bank, Mr. Moruf Oseni, the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation. 

    “At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.”

    “As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights.”

  • Wema Bank plans N70m cash spend on startups, innovators

    Wema Bank plans N70m cash spend on startups, innovators

    Wema Bank has laid up about N70million to support startups and innovators under its youth and startup-focused tech competition programme, tagged Hackaholics 5.0. The unveiling held at the bank’s Head Office in Lagos, yesterday.

    Hackaholics, an annual tech and innovation competition birthed by the bank is a groundbreaking annual “Hackathon” which provides a platform for young Nigerians with tech-driven ideas to bring their game-changing ideas to life, scale their ventures and access a wider market for these tech-enabled solutions.

    Hackaholics has, over four editions, and has transformed thousands of lives and businesses across the country, as well as helping Nigerian youths to build their own Startups, create sustainable sources of income and gain a competitive edge on the global tech and innovation scene.

    This year’s edition, themed: “Meta-Idea: DigiTech Solutions for Africa’s Prosperity”, pledges a total cash prize of over N70million for top innovators across Africa.

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    This grand scale edition will be executed over a six-month period, with tours to 10 Universities across Africa and challenging the youth to pitch unique, innovative and practical Digi-Tech solutions to positively impact the acceleration of progress, development and prosperity, not just in Nigeria but across the African continent.

    Reaffirming the bank’s commitment to championing innovation and empowering innovators, Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the role of Hackaholics in bridging the gap in Africa’s macroeconomic landscape through innovation.

    He said: “Our mission is to ‘Empowering Lives Through Innovation’ and this is the exact purpose behind Hackaholics. Within the bank, we have transformed the status quo and redefined the standards with cutting-edge solutions and technology, hence our position as Nigeria’s most innovative bank.

    “With Hackaholics, we have taken our innovation drive outside the bank, empowering youths for success and facilitating the development of transformative solutions tailored to the needs of diverse Nigerians and even the African populace.

    “By embracing innovation, fostering a culture of collaboration, and prioritising customer-centricity, we have and will continue to transform and position in Wema Bank as a digital leader, in action, products and services.

    “Our aspirations are not merely about implementing new technologies; they are about fundamentally transforming how we operate, to be simple, seamless, convenient and reliable in service to our customers.”

    Mabawonku said the project aligned with the sustainability vision of the bank, ‘Developing Digital Solutions for Societal Impact’. saying over the years, the Group has been privileged to not only peek into some very insightful ideas, life-changing products and companies that have been created via this platform, but also drive sustainable growth in every vertical of the Nigerian economy.

    “This year, we aspire to expand into Pan-African frontiers, taking the magic from the Hackaholics train beyond Nigeria. As Walt Disney said, ‘ideas come from curiosity’. So how can we improve the health sector across Africa? How can we transform the education sector? How can we drive positive change across various verticals?

    “Hackaholics is the platform that not only challenges creative minds and piques curiosity to bring those ideas to life, but also provides invaluable tools and resources to amplify the ideas, taking them from Idea to Product for the world to benefit. Interestingly, Hackaholics itself came and began as an idea. And today it has metamorphosed into the formidable Platform we see today.

    “With Hackaholics, we are on the way to birthing and discovering another Unicorn in Africa, and I hope that you will stick with us as this journey unfolds,”the bank’s Executive Director said.

    Explaining the details of the annual competition, the bank’s Head of Innovation, Solomon Ayodele underlined that this year’s theme was anchored on two principal factors—The Meta Idea and African Prosperity.

    He said: “We are challenging the youth to develop extraordinary ideas that will proffer practical solutions to our local problems as Africans. This year, we are widening our scope across the six geopolitical zones in Nigeria, and we are also touching Africa.

    “As you may know, we launched the Hackaholics Digital Summit last year, culminating the Hackaholics 4.0 journey in grand style. This year, you’re going to experience the Coachella of the tech industry at our Hackaholics 5.0 grand finale tech festival, and the journey begins today.

    Ayodele noted that for this year’s competition, there won’t be limitation of entries to any specific verticals.

    “Any verticals you can think of will be accepted. Our focus for Hackaholics 5.0 is the brilliance of your mind so we leave it to you to discover a problem area that matters and develop an innovative solution that will drive positive impact.

    “Our goal is to birth solutions that address diverse aspects of real-world challenges, and you have the opportunity to be a part of this transformative journey,” he stated.

  • Wema Bank unveils anti-fraud campaign to protect customers

    Wema Bank unveils anti-fraud campaign to protect customers

    In its quest to protect customers from falling prey to fraudsters, Wema Bank Plc has launched an anti-fraud campaign.

    Besides, the measure is aimed at curtailing fraudulent activities perpetrated by some wallet accounts and fintech partners.

    As the bank at the forefront of digital innovation and a top enabler in the fintech landscape, Wema Bank powers a plethora of fintechs across Nigeria, allowing them to operate seamlessly through Wema Bank’s third party wallet accounts.

    However, due to the upsurge in fraudulent inflows into these wallet accounts, the bank has taken a firm action against fintech partners whose account activities have been found guilty of fraud.

    Wema Bank’s Chief Audit Executive, Oluwole Esomojumi, disclosed that the anti-fraud campaign is designed to protect customers from fraudulent activities and providing them with necessary information for detecting the evolving tactics of fraudster and to also solidify our position as the bank that stands fully against fraud.

    Read Also: Wema Bank Plc year end result excites shareholders

    According to him, “The antics of fraudsters are constantly evolving. To stay steps ahead, it is imperative that consumers have good understanding of what interaction or engagement are telltale signs of fraud and how they can handle suspicious fraudulent engagements, hence the launch of the Wema Bank Anti-Fraud Campaign. We are steps ahead on our end which is why we have taken time to investigate our fintech partners and those found culpable have been disengaged from our payment gateway platform.”

    “As a bank that is resolute in our stance against fraud, we cannot compromise the safety of our beloved Nigerians, especially when these threats of fraud are emanating from fintech who use our platforms. Rest assured, there is no room for fraudsters here. We have multiplied the frequency of our security checks and are committed to rooting them out one by one. No fraudster is safe with Wema Bank because at Wema Bank, customer safety is our priority and empowering the lives and businesses of every customer is our mission,” he stressed.

    The fight against fraud is one that is clearly personal to Wema Bank and with the sturdy layers of security measures initiated and executed by the bank to sustain consumer protection beyond the direct responsibilities of the bank, Wema Bank is making its entire ecosystem inconducive to fraudsters.

    Esomojumi further hinted that to escalate fraud cases connected to any Wema Bank account(s), customers are to send an email to its platform, which is live and active all day round

    Through the anti-fraud campaign launched recently, Wema Bank has successfully investigated, identified, and disengaged three fintechs partners for fraud and suspended four others from its platform in its ongoing efforts to ensure responsible partnership, adherence to regulatory procedures and conformance to CBN KYC guidelines, just as there are ongoing audit and review of fintech partners processes as part of the grand plan to ensure that we get the anticipated/desired results.

    The Anti-Fraud Campaign targeted at creating awareness, educating, and equipping customers with necessary information needed to mitigate, detect and handle fraudulent activities on their bank accounts further underscore the bank’s commitment to safeguarding customers’ finances and personal data.

  • Wema Bank records 196% rise in PBT from N14.7b

    Wema Bank records 196% rise in PBT from N14.7b

    Wema Bank Plc has recorded Profit Before Tax (PBT) growth of 196 per cent from N14.7 billion to N43.59 billion in its full year results for the period ended December 31, 2023.

    In the bank’s audited financial result released at the weekend, the bank which proposed dividend per share of 50 kobo, said its deposit grew by 60 per cent to N1,860.57 billion from N1,165.93 billion in 2022.

    The bank, which has N40 billion first tranche of capital raise awaiting final regulatory approvals, achieved Return on Equity of 39.28 per cent and non-performing loan ratio of 4.31 per cent.

    The Managing Director/CEO, Moruf Oseni said: “2023 showcased a revitalised Wema Bank as evidenced by the considerable improvements in our numbers. The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 196 per cent. The growth of Gross Earnings by 72 per cent, Total Assets by 56 per cent and earnings per share at 279.5 kobo shows the core improvements to its balance sheet. In addition, our cost to income ratio at 64.37 per cent has witnessed significant improvement from the previous period.

    “We also completed our N40billion Capital raise exercise (results awaiting final verification by regulators). This exercise actively positioned us for the new capital licensing requirements of the Central Bank of Nigeria. Wema Bank will accelerate its capital management plans and ensure we embark on the journey to raise the required capital as quickly as possible.’’

    Read Also: WEMA Bank records N43.59b profit, to inject N40b fresh capital

    The bank will be proposing a dividend per share of 50kobo to its shareholders at the next Annual General Meeting(AGM); this is in line with the Banks capital conservation strategy and to ensure that it continues to provide returns to its shareholders in anticipation of additional capital raises scheduled for later this year.

    According to Oseni, “We are satisfied with the bank’s performance in the first year of the new leadership team, as we move in a strong growth trajectory. Our target remains clear, we want to become a Top-Tier Bank in the industry powered by Digital excellence, we have carved a niche for ourselves with ALAT as a Retail platform, but we are now positioning the enterprise as the Intelligent platform for all financial services – We have partnered with the Federal Government on upskilling two million MSMEs, provided engagement platforms for all NYSC members and now implementing partnerships in Health, Education, Women empowerment and in the green economy.”

    In the months ahead, we would be developing platforms and supporting initiatives that prioritize the needs of our customers, leveraging technology in solving problems across all sectors.

  • WEMA Bank records N43.59b profit, to inject N40b fresh capital

    WEMA Bank records N43.59b profit, to inject N40b fresh capital

    Wema Bank Plc yearend result for December 31st, 2023, has placed the bank in good stead as far as its financial position is concerned, The Nation can report.

    The full year 2023 audited financial statement obtained by our correspondent on Friday, showed that the bank recorded a profit before tax growth of 196% from ₦14.75bn to ₦43.59 billion with deposit growth of 60% to ₦1,860.57bn from ₦1,165.93bn reported in FY 2022, a return on equity (ROAE) of 39.28%, NPL of 4.31%, among other milestones.

    While commenting on the results, the MD/CEO, Mr. Moruf Oseni said, “2023 showcased a revitalised Wema Bank as evidenced by the considerable improvements in our numbers. The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 196%. The growth of Gross Earnings by 72%, Total Assets by 56% and earnings per share at 279.5 kobo shows the core improvements to our balance sheet. In addition, our cost to income ratio at 64.37% has witnessed significant improvement from the previous period.

    “We also completed our N40bn Capital raise exercise (results awaiting final verification by regulators). This exercise actively positioned us for the new capital licensing requirements of the Central Bank of Nigeria. Wema Bank will accelerate its capital management plans and ensure we embark on the journey to raise the required capital as quickly as possible.”

    Read Also: Wema Bank, Fed Govt launch new MSMEs empowerment phase

    Besides, the bank will be proposing a dividend per share of 50kobo to its shareholders at the next Annual General Meeting, in line with the bank’s capital conservation strategy and to ensure that it continues to provide returns to its shareholders in anticipation of additional capital raises scheduled for later this year.

    Expatiating, an elated Oseni who expressed satisfaction at the bank’s performance in the first year of the new leadership team, stated matter-of-factly that it target remains clear, “We want to become a top-tier bank in the industry powered by digital excellence, we have carved a niche for ourselves with ALAT as a retail platform, but we are now positioning the enterprise as the Intelligent platform for all financial services.

    “We have partnered with the Federal Government on upskilling two million MSMEs, provided engagement platforms for all NYSC members and are now implementing partnerships in health, education, women empowerment and in the green economy. In the months ahead, we would be developing platforms and supporting initiatives that prioritise the needs of our customers, leveraging technology in solving problems across all sectors.”

  • Wema Bank, Fed Govt launch new MSMEs empowerment phase

    Wema Bank, Fed Govt launch new MSMEs empowerment phase

    Wema Bank set machinery in motion to begin the second phase of the FGN-ALAT Digital Skillnovation Programme in second quarter.

    The bank which pioneered Africa’s first fully digital bank, ALAT, announced the launch of the second cohort for the FGN-ALAT Digital Skillnovation Programme; a groundbreaking initiative spearheaded by Wema Bank in partnership with the federal government , to train and equip 2,000,000 youth and 1,000,000 MSMEs across Nigeria with advanced, relevant and highly demanded digital skills for sustainable success in today’s digital driven world.

    As Cohort 2 begins in the second quarter of 2024, the FGN-ALAT Digital Skillnovation Programme is officially transitioning to physical training sessions and the curriculum will cover key digital skills including software engineering, product management, business analysis, cloud computing and product design, among others.

    Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the pivotal role of the FGN-ALAT Digital Skillnovation Programme in bridging the gaps in Nigeria’s macroeconomic landscape towards national development.

    Since the launch of the first Cohort of the FGN-ALAT Digital Skillnovation Programme in 2023, over 300,000 Nigerian Youth and Business Owners have leveraged the platform as a launchpad for their business and career success.

    This unique Cohort featured 100 per cent virtual learning sessions through which participants from the 36 states in Nigeria and the Federal Capital Territory, Abuja, were provided with self-paced online learning experiences.

    While further justifying the launch of the second phase, Mabawonku said it is part of the bank’s unwavering commitment to supporting MSMEs and with the FGN-ALAT Digital Skillnovation Programme. “It’s all about the bigger picture—which is why we have partnered with the federal government  to augment the scale of this programme’s impact.

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    “By tailoring this programme to suit the needs of both entrepreneurial minded and professionally inclined Nigerians,  we are not just arming SMEs for more efficient business management and growth, we are also equipping Nigeria’s workforce for increased productivity and the ripple effect will not only create more viable employment opportunities for Nigerians towards reduced unemployment and underemployment rates, but further drive economic growth and national development, boosting Nigeria’s position on the global playing field,” he said.

    Pressed further, Mabawonku noted that, “The digital evolution is moving sporadically and by empowering our youth and MSMEs with in-demand digital skills, we are ensuring that Nigeria is not left behind as the world evolves.

    “Beyond the intellectual resources and other non-monetary opportunities, we are going a step further to provide financial support for these participants in form of millions of Naira in equity capital, soft loans and grants, to enable them put their learnings to practice and build sustainable streams of income that could help them become employers in their own right.

    Echoing similar sentiments, Mariam Isah, a beneficiary of Cohort 1, said, “It’s almost unbelievable all I’ve learnt in just this 1-month virtual training. I started this training simply looking for a way forward for my business but I have unlocked secrets that are life changing not just in my business but in all aspects of life. I am so grateful for this rare opportunity, and I can’t wait to be a part of Cohort 2.”

    This phase of the programme will be executed via FGN-ALAT Digital Hubs, which will be set up in the different states across the six geopolitical zones in Nigeria to ensure that every Nigerian can access the programme’s full benefits regardless of their location.

    These hubs will be equipped with cutting-edge training and incubation facilities ideal for advanced and ultra-modern digital-driven learning, giving participants the opportunity to acquire marketable and transferrable digital skills in state-of-the-art learning spaces within their reach, and gain a competitive edge in the global digital ecosystem.

  • Wema Bank lifts over 100 women with cash

    Wema Bank lifts over 100 women with cash

    Wema Bank, has rewarded over 120 women across Nigeria with millions of Naira in the just concluded 8th monthly draw of its renowned 5 for 5 Promo Season 3, which was held in Benin, Edo state capital.

    The Wema Bank 5 for 5 Promo is a reward programme designed to support Nigerians across the country with monetary rewards for their personal and business use.

    The 3rd Season, which launched in July 2023, set out to disburse a total of N9,000,000 monthly to 120 active and transacting customers in monthly draws spanning a 10-month period. In alignment with the ongoing Women’s Month, Wema Bank went steps further from hosting the biggest International Women’s Day Event in Nigeria to allocating N7,250,000—a whopping 95% of the N9,000,000 cash prize stipulated for the 8th draw, to Nigerian women across the world; all within this month.

    Read Also: Wema Bank lifts SMEs with payment solutions

    This sum was distributed to over 100 women in cash prizes ranging from N25,000 to N1,000,000 each. As evident in Wema Bank’s activities throughout the month, the pioneering Bank has inadvertently solidified their position as the bank of choice for women and a financial institution relentless in its commitment to providing useful solutions, viable options and opportunities for women to achieve their personal and business goals.

    Wema Bank’s Divisional Head of Retail and SME, Ayodele Olojede, disclosed the bank’s motive for streamlining the wins in the 8th draw to skew more towards the women. “We cannot overemphasise our deep-rooted commitment to being a support system for women so we naturally went above and beyond this women’s month.