Tag: Wema Bank

Wema Bank has celebrated the winners of its “2025 Wema at 80 Teachers Day Campaign”, recognising and rewarding educators whose influence has shaped generations of students.

The award ceremony, held at the bank’s headquarters in Marina, Lagos, announced the top five teachers who received over N4.5 million worth of prizes for their exceptional contributions to education in Nigeria.

The event, themed ‘Celebrating Teachers with a Legacy of Impact’, was an initiative that recognised and rewarded educators whose influence has shaped generations of students.

Managing Director, Wema Bank, Moruf Oseni, emphasised that teachers are the unsung heroes behind every great achievement, and their dedication to nurturing minds and shaping the next generation is what builds strong nations.

“Today, we are honoured to celebrate our educators. The teachers who have impacted lives. We celebrate their resilience and dedication, especially as we mark 80 years of empowering communities and driving positive impact. The Wema Bank Teachers Day Campaign is one of the initiatives that we have used to invest in the education sector at large.”

The winners were Abraham Ngobiri, founder of Teens-Train, who received ₦2 million; Mrs. Esther Babasola Adesada, founder of Heritage X Foundation, who received ₦1.5 million; and Ms. Taiwo Alabi, founder of Educycle, who received ₦1 million.

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Ngobiri used his platform to impact social change by coaching, mentoring and counseling teens, saw the recognition as a fuel to do more. He expressed gratitude to the Bank and his students, saying it felt good to see teachers celebrated and rewarded by those they have taught.

“For many years, teachers have given their all quietly, and what Wema Bank has done today makes us feel seen and valued. This recognition fuels our commitment to keep shaping lives.”

Adesada described the recognition as “a huge motivation and a pick-me up in a year where I was battling self-doubt in my calling,” adding that “it’s a pointer that no matter the difficulty faced in doing your part, you should keep doing it. The children and even the world are observing, and it will come back to you beautifully one day.”

Alabi said, “To be recognized on this platform means a lot, not just for me but for every teacher who wakes up daily to inspire the next generation. Thank you, Wema Bank, for leading this movement.”

The Wema At 80 Teachers Day Campaign was launched in September 2025, inviting students and alumni to post 80-second videos celebrating unforgettable teachers.

Ten remarkable teachers were shortlisted, with three emerging as overall winners following a rigorous judging process. Wema Bank’s Teachers’ Day Campaign has grown into a nationwide movement, investing over ₦20 million in prizes and mentorship programs, impacting over 3,000 students and 10 schools.

Wema Bank Plc has partnered with Nigeria’s biggest afrobeats artiste, Davido, to bring the famed 5ive Alive Tour to Nigeria as Detty December draws near.

Projected to be the biggest stadium tour in Nigerian music history, the Nigerian edition of the 5ive Alive Tour is scheduled to span October to December 2025, storming 5 different locations across Nigeria: Akwa Ibom, Adamawa, Enugu, Ibadan and Lagos.

 Further cementing its long-time relationship with the Star, Wema Bank has spearheaded the execution of this tour as the Headline Sponsor, excellently delivering on its role in curating a rich, vibrant and unforgettable experience for all who get to attend.

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Adopting the official hashtag #Wema5iveAliveTour, this Tour is set to make history, and with Wema Bank already making headlines and bringing the exclusives, the excitement is off the charts as Nigerians wait impatiently in anticipation of what the Bank has in store for its customers.

• N50b private placement raises capital to N264b

Wema Bank Plc has successfully raised N50 billion through a private placement, pushing its total qualifying capital to N264 billion, N64 billion or 32 per cent above regulatory requirement of N200 billion.

The bank yesterday stated that it has received all requisite regulatory approvals for the completion of its N50 billion private placement, which was fully subscribed.

The bank had also last month completed its N150 billion rights issue. With these, the bank now has a total of N264.87billion in qualifying capital, above the minimum requirement of N200 billion for its category of commercial bank with national authorisation.

Managing Director, Wema Bank Plc, Mr. Moruf Oseni, said the completion of the private placement and above-minimum capital base marked another significant milestone in the execution of the bank’s capital management programme aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.

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He said: “We are delighted to have received all necessary regulatory approvals for our N50 billion special placement. This marks another major step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustained growth. We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda”.

He outlined that the net proceeds from the capital raise would be deployed to continue the acceleration of Wema Bank’s digital transformation drive and deepen penetration across retail, small and medium enterprises (SME), and corporate segments.

He added that the additional capital would enhance the bank’s lending capacity to key productive sectors of the Nigerian economy.

According to him, the new equity capital would also support ongoing investments in technology, and human capital development — further strengthening operational efficiency and service excellence.

“Wema Bank remains steadfast in its mission to deliver superior value to shareholders, empower customers through innovative financial solutions, and contribute meaningfully to Nigeria’s economic growth and financial inclusion objectives,” Oseni said.

Wema Bank has marked the 10th anniversary of its internal sports tournament, Wemalympics, the largest internal sports event in the banking industry.

Launched in 2015, Wemalympics is Wema Bank’s internal sports tournament hosted annually with the goal of promoting camaraderie, work-life balance, spirited sportsmanship among the employees of Wema Bank.

Themed “We Strive, We Bond, We Win”, Wemalympics At 10, convened over 7,000 employees of Wema Bank, their families, partners and sponsors, to participate in an array of indoors and outdoor games to test their agility, promote health and fitness, and strengthen the bond among the Bank’s employees, fondly referred to as Knights.

Team South West emerged as the overall winner, dominating the medal leaderboards for both indoor and outdoor games, while Team Lagos took the second position with a close margin in the football finals, and Team South South/South East and Team North came third and fourth respectively.

Wema Bank’s Managing Director/Chief Executive Officer, Moruf Oseni, expressed gratitude to employees, families, sponsors, and partners for their participation and support.

Oseni noted that the event’s success demonstrated the bank’s commitment to promoting work-life balance and employee wellbeing.

He said: “This is our 10th year doing Wemalympic and today, I’d like to say a big Thank You to you all; staff of Wema Bank who continue to make out time and actively participate year-in-year-out, families of Knights who have been on this journey with us, our sponsors and partners who continue to support meaningfully, and everyone else who has been a part of this journey in any capacity.

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 “The energy I have seen here today gives me the confidence that there is nothing we cannot achieve as a bank if we set our minds to it. As we compete with passion, I urge us all to remember that we are one, and we are all winners. I wish you all the best, thank you once again.”

Receiving the grand prize trophy on behalf of the winning region, Sunday Olaitan, Wema Bank’s Regional Executive for the South West Region, noted the importance of events like Wemalympics in boosting employee morale and promoting work-life balance.

On the South West’s triumph, he said, “South West has been a formidable force throughout the decade long history of Wemalympics and it goes without saying. This is our 4th consecutive victory at Wemalympics and our 6th time in total receiving the trophy for Overall Best.”

The event also featured commendable performances, including a ceremonial lap round the track, cheerleading performances, and the unveiling of the Wemalympics Anthem.

The tournament closed with two prizes; two round-trip tickets for the winners of the male and female 100m races courtesy of Wakanow, and a brand-new EV, the WULING Bingo, for the Overall Best region, courtesy of GAC Motors.

Ahead of the International Teacher’s Day celebration on October 5, 2025, Wema Bank Plc has announced the launch of the “Wema at 80 Teachers’ Day Challenge”, an initiative designed to reward and celebrate teachers whose impact has shaped generations of students.

This year’s challenge invites students and graduates across Nigeria to post an 80-second video on any social media platform such as Instagram, Twitter, Facebook and TikTok, telling the story of an unforgettable teacher whose influence has touched multiple students in their school over the years.

Participants are to mention the teacher’s name, their school, tag Wema Bank, and use the hashtags #WemaAt80TeachersDay and #TeachersWithALegacyOfImpact in their captions to be part of the celebration. Participants can be of any age and could have graduated many years ago from school.

They are also allowed to honour any teacher of choice from either primary, secondary, or tertiary institutions.

Managing Director, Wema Bank Plc, Moruf Oseni said teachers are the quiet architects of every nation’s future.

“Their resilience, sacrifices, and dedication have produced generations of innovators, leaders, and changemakers. At Wema Bank, we believe it is important to honor these educators, not just with words, but with recognition that puts their names and their legacies in the spotlight. The #WemaAt80TeachersDay Challenge is our way of celebrating them and encouraging Nigerians to give their teachers the flowers they deserve,” Oseni said.

The Teachers’ Day Challenge is an established tradition at Wema Bank. Over the last two years, the bank has recognised ten teachers across Nigeria, distributing a cumulative N13,000,000 in cash prizes and gifts to educators who have demonstrated exceptional dedication to shaping their students’ futures.

This year’s campaign will once again shortlist 10 remarkable teachers from all entries, with three receiving significant cash prizes and two others awarded complimentary gifts.

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The ultimate goal of the challenge is to ensure that every teacher in Nigeria feel celebrated, regardless of if they emerge as prize recipients or otherwise.

This year’s edition according to the Head of Corporate Sustainability at Wema Bank, Abimbola Agbejule, is particularly symbolic as it coincides with Wema Bank’s 80th anniversary, a milestone that highlights the Bank’s enduring legacy of empowering people and communities.

At 80, Wema Bank is not just celebrating its legacy, the Bank is also honoring those whose impact created countless others.

According to her “Teachers are the backbone of every success story, and this challenge is our way of giving them their flowers.”

She said the #WemaAt80TeachersDay challenge is not merely about rewards; it is a movement to spark gratitude, storytelling, and public appreciation for the teachers who have shaped lives and left indelible marks on generations of students.

Through this initiative, Wema Bank invites every Nigerian to pause, reflect, and say “thank you” to those who taught them, mentored them, and guided their journey. Teachers are nation builders, shaping the minds and character of the next generation.

As Wema Bank celebrates 80 years of impact, the #WemaAt80TeachersDay Challenge underscores the Bank’s commitment to recognising individuals and institutions that strengthen our collective future.

By celebrating teachers’ legacies, Wema Bank reinforces its own legacy built on empowering people, supporting education, and championing sustainability for decades to come.

Wema Bank has introduced two new features , Static Wallets and Instant Settlement, on ALATPay.

These two new features will simplify payments, improve efficiency, and power business growth, reinforcing Wema Bank’s commitment to providing secure, transparent, and innovative financial tools for businesses of all sizes.

Static Wallets on ALATPay provide businesses with dedicated account numbers that can be assigned to users, branches, vendors, or projects.

It ensures easier reconciliation, transparent tracking, and improved customer convenience, while also reducing risks of fraud and strengthening financial control for businesses.

The Instant Settlement on Bank Transfer Transactions via ALATPay gives merchants immediate access to funds once customers make payments.

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It eliminates settlement delays, addresses a long-standing challenge for businesses, improves cash flow, enables faster operational decisions, and boosts customer confidence with real-time payment confirmations.

Commenting on the significance of the enhancements, Mr. Moruf Oseni, Managing Director, Wema Bank, said, “At Wema Bank, our commitment is to consistently deliver innovative solutions that enable businesses and customers to thrive.” ALATPay reflects this vision by simplifying how payments are collected, managed, and reconciled across industries. With the addition of Static Wallets and Instant Settlement on Bank Transfer Transactions on ALATPay, we are removing barriers that slow down business growth while reinforcing transparency, security, and efficiency. This is not just about payments; it is about giving entrepreneurs, SMEs, corporates, and fintechs the confidence to scale in a fast-changing digital economy.”

Elaborating on the new features, Mr. Damola Bolodeoku, Divisional Head of Payments Business at Wema Bank, explained, “The introduction of Static Wallets and Instant Settlement on ALATPay was driven by the need to solve two critical pain points for businesses: reconciliation and cash flow delays. By creating dedicated account numbers that make reconciliation seamless and by ensuring that transfers are done instantly, we are giving businesses greater control over their transactions. These solutions were carefully developed with input from our partners and customers, leveraging Wema Bank’s expertise in payments to build tools that are practical, secure, and future-focused.”

Built around speed, transparency, and flexibility, ALATPay is Wema Bank’s digital payment gateway designed to help businesses collect, manage, and reconcile payments across multiple channels.

With its wide range of solutions tailored for merchants, corporates, and entrepreneurs, ALATPay now offers a more complete package by combining Static Wallets, Instant Settlement, and other robust capabilities such as storefronts for online selling, developer-friendly APIs for seamless integration, payment links and QR codes for quick collections, and flexible payment options across cards, transfers, accounts, and phone numbers.

Its simple self-onboarding process also ensures businesses can start accepting payments instantly.With these enhanced capabilities, Wema Bank is positioning ALATPay as a trusted partner for individuals, SMEs, corporates, and fintechs, enabling them to transact with confidence, improve financial control, and seize new opportunities in Nigeria’s dynamic and increasingly digital marketplace.

Wema Bank Plc has announced  the successful completion of its N150 billion rights issue.

According to a statement by the bank, the rights issue  opened on April 14th,2025, and closed on May 21st,2025.

The exercise, the bank said ,  has received formal approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

The  rights issue , the statement added, was undertaken in response to the CBN’s directive on the recapitalization of banks in Nigeria.

With the successful completion and regulatory approval, Wema Bank has now met the N200 billion minimum capital requirement applicable to commercial banks with national authorization.

In addition to the rights issue, Wema Bank also recently concluded a N50 billion Private Placement, which is now awaiting regulatory reviews.

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This additional capital, the statement added, raises the Bank’s total capital base above the regulatory threshold, further strengthening its buffer, enhancing its shock-absorption capacity, and positioning it for sustained growth.

Commenting on the Bank’s success in meeting the regulatory threshold ahead of the 24-month timeline, Moruf Oseni, Wema Bank’s MD/CEO, reaffirmed the Bank’s promise of delivering the best value as it continues its growth journey. According to Oseni, “As a growth-driven Bank, the industry recapitalization requirement came as a welcome mission, and we undertook it with full confidence.

Our success in surpassing the N200 billion benchmark ahead of the 2026 deadline not only reinforces our strong financial standing as a bank but also attests to the mutual trust and confidence that exists between Wema Bank and its shareholders. We do not take this trust for granted and we take this moment to firmly reiterate our commitment to continue delivering optimum value to every shareholder and stakeholder of Wema Bank.”

The conclusion of these capital-raising initiatives, the statement further added  reinforces the Bank’s prudential position and provides a solid foundation for long-term stability.

“  It also reflects the continued confidence of stakeholders in Wema Bank’s governance, financial performance, and strategic direction.”

Wema Bank Plc has surpassed the new minimum capital base of N200 billion after raising N157 billion in new equity funds from existing shareholders.

Sources close to the bank said the bank’s rights issue of N150 billion was oversubscribed by N7 billion and the proceeds were being verified by the Central Bank of Nigeria (CBN).

The addition of proceeds of the rights issue and the existing qualified capital of N67 billion is expected to push Wema Bank’s share capital and share premium above N210 billion, more than the N200 billion minimum capital requirement for its national commercial banking licence.

“The process is currently undergoing final verification by the Central Bank of Nigeria, with approval expected in the coming weeks,” a source stated.

Sources said Wema Bank’s total shareholders’ funds could rise above N500 billion after the completion of the ongoing recapitalisation exercise, especially given the bank’s growth trajectory.

The oldest surviving indigenous bank also last week launched a private placement to raise about N50 billion in a strategic move that places the bank in a vantage position to play stronger roles as the banking recapitalisation heads to its final phase.

Managing Director, Wema Bank Plc, Mr. Moruf Oseni, in a panel interview with select journalists, said the combination of rights issue and private placement allowed existing shareholders to increase their stakes while also deepening the capital base through new investments under the private placement.

He explained that with the bank meeting the recapitalisation target, it would focus on leveraging the strengthened capital base to drive sustainable growth, expand lending capacity, enhance digital innovation, and improve overall customer experience.

He noted that Wema Bank has proven to be resilient pointing out that as a bank born out of a vision to cater to the needs of indigenous Nigerians, the bank has shown long-term commitment to serving Nigerians through various generations.

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He said: “When such an important legacy is in your care, it places a burden of care on you to go above and beyond to ensure that the legacy lives on.

“In our quest to keep empowering people and providing value, we have continued to reinvent, innovate, and adapt, developing improved ways to create more significant impact and meet the needs of the people as times evolve. When you continue to add value, you remain relevant, and when you continue to adapt, change becomes a welcome challenge. This philosophy is how we have remained resilient for eight decades, which is why we will continue to thrive in the decades to come,” Oseni said.

He added that with more than eight decades of operations, Wema Bank is stronger than ever and has emerged as undeniable force to be reckoned with and a brand to look out for in the banking industry.

He pointed out that the remarkable increase in the bank’s profitability, with pre-tax profit rising from N43.7 billion in 2023 to N102 billion in 2024, was an indication of the growth outlook of the bank.

“Beyond the numbers, Wema Bank has blazed the trail in the financial industry, spearheading digital banking in Nigeria and Africa. We launched ALAT, Africa’s first fully digital bank, in 2017, and that was just the beginning. Since ALAT, we launched the industry’s first digital solution for cooperative societies, CoopHub; Nigeria’s first licensed banking App for teenagers, the ALAT Xplore App; and ALATPay, a unique payment gateway that provides instant settlement for businesses.

“Beyond pioneering innovation, Wema Bank has grown to become the backbone of over 150 FinTech companies in Nigeria, allowing them to operate and function using our secure banking platform. We have not just added value; we have empowered others to add value, and each year, it keeps improving. Wema Bank stands out for resilience, innovation, digital transformation, impact and a deeply customer-centric approach to banking. You can rest assured that we will never relent.

“The strong performance and sustainability of Wema Bank’s stock on the Nigerian Exchange is no surprise to anyone who has paid attention to our growth story. I would say that this growth has been driven by a deliberate strategy focused on strong relationship management and lending to high-growth sectors. The success of our digital banking platform, ALAT, has also contributed significantly to our performance. 

 “Additionally, strong investor confidence is built around our efficient management practices that have contributed to positive financial performance.  On how sustainable this performance is, the acceptability of digital banking is here to stay, and our innovation cum customer-centricity approach to banking ensures that we remain proactive in meeting customers’ needs and leverage technology to improve the quality of our service consistently. This approach is tested and trusted; we believe these fundamentals are sustainable,” Oseni said.

Group Managing Director, The Lancelot Group, Mr. Adebayo Adeleke, who echoed sentiment of many shareholders of the bank, commended the board and management for a series of innovative products and services that characterize its operations.

According to him, Wema Bank is the only indigenous bank to have weathered the economic storm for over eight decades.

“It’s a testament to both its resilience and adaptability. It has reconnected with the younger generation by deploying ICT solutions in its services. Shareholders are always ready to support the bank by buying more of its shares,” Adeleke said.

An independent equity analysis by Global Asset Management stated that Wema Bank’s share was trading below its intrinsic value.

The report recommended the stock for long-term investors looking to benefit from capital appreciation and dividend income within Nigeria’s evolving banking sector.