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  • Wema Bank begins 80th anniversary celebration with “Spreading Love”campaign

    Wema Bank begins 80th anniversary celebration with “Spreading Love”campaign

    Wema Bank, Nigeria’s most innovative financial institution and the pioneer of Africa’s first fully digital bank, ALAT, has kicked off its 80th-anniversary campaign with the launch of its Valentine campaign tagged “80 Years of Spreading Love” scheduled to run from February 1st to 28th, 2025.

    Wema Bank’s “80 Years of Spreading Love” campaign is a customer-focused campaign designed to reward loyalty, strengthen connections, and create unforgettable experiences for customers across all segments. 

    As part of this campaign, the bank, through 80 Acts of Love, will be rewarding customers across different generations, lifestyles, and financial needs.

    From young customers looking to experience financial independence with ALAT Xplore to business owners leveraging ALAT for Business and SME Toolkit, the bank is rolling out exciting rewards tailored to meet their unique needs. 

    Customers can look forward to a ₦11,000,000 cash prize in the Wema Bank 5 for 5 Promo Season 4, gift cards, movie tickets, fitness access, and luxury spa treatments to make their Valentine’s season extra special. 

    Additionally, students and young professionals will enjoy free airtime and Uber vouchers, ensuring they stay connected while celebrating love.

    For women and families, Wema Bank is offering free SARA health consultations, special business promotions, and access to networking opportunities that empower female entrepreneurs.

    Diaspora and Prestige customers will enjoy discounted loans, cashback rewards, and priority customer service, making banking even more rewarding.

    Customers can also take advantage of up to 15% off CIG Motors products, including free vehicle registration and car trackers, as well as 5% off Green Asset products with free StarTimes decoders and a six-month subscription. 

    SMEs and entrepreneurs will benefit from free delivery services, business training sessions, Meta advert credits, and promotional support to help them scale their businesses effortlessly.

    Speaking on the inspiration behind the campaign, Moruf Oseni, MD/CEO of Wema Bank, said, the ‘80 Years of Spreading Love’ Valentine campaign is the first in a series of exciting activities leading up to Wema Bank grand 80th-anniversary celebration. 

    Read Also: Wema Bank unveils 80th-anniversary identity

    Through 80 Acts of Love, the Bank is rolling out an exclusive bouquet of rewards that will touch the lives of every segment of its customers.

    “On May 2, 2025, Wema Bank will turn 80, and as part of our activities, we don’t just want to celebrate this milestone—we want to celebrate the people who have made it possible: our customers. They have journeyed with us through the years, and this campaign is one of our ways of saying ‘thank you. We are a customer-centric bank, constantly seeking ways to reward their loyalty,” he concluded.

    For 80 years, Wema Bank has stood as a symbol of resilience, innovation, and unyielding customer support. 

    The bank continuously seeks ways to support, encourage, and reward its customers, and the “80 Years of Spreading Love” campaign is just the beginning. All customers have to do is download ALAT and follow Wema Bank on social media to enjoy the discounts and financial rewards.

  • Wema Bank unveils 80th-anniversary identity

    Wema Bank unveils 80th-anniversary identity

    Ahead of its 80th anniversary, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has unveiled the identity for the anniversary celebration.

    Set for Friday, May 2, 2025, the anniversary would serve as the hallmark of Wema Bank’s 80-year journey of unmatched resilience, profound impact, and notable transformation from being Nigeria’s oldest indigenous bank to becoming Nigeria’s foremost and leading innovative bank.

    According to a statement by the financial institution, Wema Bank’s impressive 80-year legacy has been one exemplified by immense growth, with the Bank evolving intelligently through the decades, embracing innovation to break new grounds and raising the standards of banking and financial services to provide an unparalleled experience for its customers and stakeholders, both internally and externally.

    Read Also: Wema Bank plans N200b in placement, rights issues

    “Now on the cusp of its milestone celebration of 80 years, Wema Bank stands at its all-time strongest, proving to be a formidable force in the African financial services industry.

    “All eyes are peeled in anticipation of what Wema Bank will bring on in the coming weeks, as its 80th anniversary celebrations begin to unfold”, the statement read.

  • Wema Bank to raise additional N200b to meet CBN recapitalisation

    Wema Bank to raise additional N200b to meet CBN recapitalisation

    Wema Bank has announced that it will be completing its capital raise through a combination of a Rights issue and a Special placement exercise set to go live on April 1, 2025, to raise N200 billion in fresh capital.

    This would mark the second and final tranche of the Bank’s capital raise exercise, supplementing the N40 billion raised in the first tranche, and ensuring the Bank surpasses the CBN minimum requirement for national banking authorisation. 

    In its usual manner as a proactive, innovative, and forward-thinking bank, Wema Bank, had before the CBN announcement, already launched a N40 billion rights issue as far back as December 2023, receiving the approval of the CBN and the Securities and Exchange Commission (SEC) in 2024.

    This resulted in the Bank’s successful completion of the first tranche of its capital raise exercise. With over 30% of the CBN target of N200 billion already met, Wema Bank is proceeding to initiate the second tranche of capital raise come April 2025, this time, to raise N200 billion in fresh capital to complete its capital requirement.

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    Confident in the outcome of the upcoming rights issue, Wema Bank’s MD/CEO, Moruf Oseni, assured shareholders and other stakeholders of a successful conclusion of the capital raise program.

    According to him, “We stand strong today not just as Nigeria’s oldest indigenous bank but also as Nigeria’s leading innovative bank. Wema Bank turns 80 this year and I can safely tell you that we have never been more driven to excel. I am blessed to lead with the support of a team of determined and driven professionals who will leave no stone unturned in achieving our strategic aspirations. Indeed, we are building Wema Bank into a formidable force in the African financial services landscape.

    “We remain dedicated to maintaining transparency throughout this process and will provide regular updates to all stakeholders and shareholders as we go forward. This capital raise will be a win-win for us all. You can trust as always that your investment in Wema Bank will produce exceeding returns. This is our promise to you”, Oseni concluded.

    With the deadline for CBN’s recapitalisation exercise set for March 31, 2026, this move by Wema Bank will undoubtedly ensure the bank retains its national banking license way ahead of the deadline.

    Reaffirming its stance as a Bank committed to transparency and adherence to regulatory standards, Wema Bank is working to secure all necessary approvals from relevant regulatory authorities to ensure the process is conducted in full compliance with applicable guidelines.

  • Wema Bank unveils 5 for 5 season 4 with N11m cash prize

    Wema Bank unveils 5 for 5 season 4 with N11m cash prize

    Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, is set to reward 131 customers across Nigeria with N11,000,000 in cash prizes, in its first 5 for 5 Promo Season 4 monthly draw of the year happening in Warri, Delta State, on January 24, 2025.

    Launched in 2021, the 5 for 5 Promo is a reward initiative introduced by Wema Bank to reward its diverse range of customers for active loyalty to the brand, its products, and offerings. The 5 for 5 Promo selects winners from the Bank’s pool of active and transacting customers, via thoroughly regulated electronic live draws. The first 3 seasons saw the Wema Bank 5 for 5 Promo disburse over N150,000,000 to 2,378 Nigerians across the six geopolitical zones in Nigeria, and with the launch of Season 4 on October 1, 2024, Wema Bank raised the bar, setting aside a whopping N135,000,000 for disbursement this season alone.

    Justifying the need for the trailblazing monthly draw as a timely intervention for Nigerians in light of the new year, Moruf Oseni, MD/CEO Wema Bank, recounted the big picture for the Promo and the impact this draw will have on the lives of the customers who will be starting their year out with cash prizes to support their personal, professional or business endeavours. According to him, “The goal for us with the Wema Bank 5 for 5 Promo is giving back, providing support and rewarding our loyal customers, it’s been one of the key means through which we say ‘thank you’ as a Bank, and four years strong so far, it’s only gotten better with each season. We made millionaires in December ahead of Christmas and it was heartwarming to hear from our amazing customers how instrumental these rewards were in sorting out some bills. Now, we are even more ready to kickstart 2025 on a millionaire note”.

    “As a tradition, the 5 for 5 Promo continues to tour different locations across the six geopolitical zones, however, our winners are always selected from across the country. So even though one of the millionaires will be from Warri where this draw will hold, there’s still room for 2 more millionaires and over 120 more winners of cash ranging from N25,000 to N250,000. The joy for us is in the smiles that are made, the stories that are positively impacted and the hope that these cash rewards bring to the winners; from students to small business owners, working professionals, and so on.

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    We are all too familiar with the running ‘100 days of January’ reality that plagues a lot of us after the heavy spending that comes with December, so this draw is the perfect opportunity to support our customers beyond the daily and weekly draws that we hold every other weekday. I congratulate the winners in advance, and I encourage every new and existing Wema Bank customer to seize this opportunity and start transacting today. The 5 for 5 Promo is as transparent as can be, so anyone can win, provided they meet the minimum requirements,” Oseni concluded.

    Olorunshola Damilola Esther, an Akure-based trader who was one of the millionaires from the 2nd monthly draw of the Wema Bank 5 for 5 Promo Season 4 which held in Akure on December 15, 2024, expressed immense gratitude to Wema Bank for the surprise win, encouraging Nigerians to keep transacting with their Wema Bank accounts for a chance to also receive surprise financial rewards in the Wema Bank 5 for 5 Promo.

    To qualify, participate and stand a chance to win in the Wema Bank 5 for 5 Promo Season 4, customers of the Bank are required to fund their account with at least N5,000 monthly, maintain an average minimum balance of N5,000 and make up to 5 transactions using ALAT, *945# or their Wema/ALAT debit card.

    New customers can participate by downloading the ALAT App from the Play Store or App Store, opening an account and following the steps above to qualify.

  • Wema Bank unveils 12 Days of Christmas campaign for customers

    Wema Bank unveils 12 Days of Christmas campaign for customers

    Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, in celebration of the festive season, has announced the launch of its Christmas campaign tagged Wema 12 Days of Christmas.

    The campaign is set to run from December 14th to 25th, 2024, bringing joy to customers across the country with exciting rewards and an unforgettable holiday experience.

    The Wema 12 Days of Christmas is a reward-driven initiative designed by Wema Bank to appreciate both new and existing customers of the Bank.

    Through this campaign, Wema Bank aims to celebrate the festive season by providing opportunities for customers to win amazing prizes such as gadgets, home appliances, kitchen utensils, shopping vouchers, airtime, data, special dinner treats, and much more.

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    To participate in the Wema 12 Days of Christmas, customers can follow any of the below options:

    Use the ALAT App: Make a transaction and watch for the “Spin the Wheel” pop-up to unlock fantastic rewards.

    Visit Wema Bank Branches: Visit any branch, make a transaction, and pick a number from Santa’s Box to claim a surprise gift.

    Engage on Social Media: Like, comment, and share campaign posts for additional chances to win exciting prizes.

    Speaking on the launch of the campaign, Mr. Moruf Oseni, Managing Director and CEO of Wema Bank Plc, disclosed that The Wema 12 Days of Christmas campaign is the Bank’s way of spreading the magic of the season while giving back to customers who have supported the Bank throughout the year.

  • Wema Bank unveils 12 Days of Christmas campaign for customers

    Wema Bank unveils 12 Days of Christmas campaign for customers

    Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, in celebration of the festive season, has announced the launch of its Christmas campaign tagged Wema 12 Days of Christmas.

    The campaign is set to run from December 14th to 25th, 2024, bringing joy to customers across the country with exciting rewards and an unforgettable holiday experience.

    The Wema 12 Days of Christmas is a reward-driven initiative designed by Wema Bank to appreciate both new and existing customers of the Bank.

    Through this campaign, Wema Bank aims to celebrate the festive season by providing opportunities for customers to win amazing prizes such as gadgets, home appliances, kitchen utensils, shopping vouchers, airtime, data, special dinner treats, and much more.

    To participate in the Wema 12 Days of Christmas, customers can follow any of the below options:

    Use the ALAT App: Make a transaction and watch for the “Spin the Wheel” pop-up to unlock fantastic rewards.

    Visit Wema Bank Branches: Visit any branch, make a transaction, and pick a number from Santa’s Box to claim a surprise gift.

    Engage on Social Media: Like, comment, and share campaign posts for additional chances to win exciting prizes.

    Read Also: Wema Bank claims third overall victory at Bankers Game

    Speaking on the launch of the campaign, Mr. Moruf Oseni, Managing Director and CEO of Wema Bank Plc, disclosed that The Wema 12 Days of Christmas campaign is the Bank’s way of spreading the magic of the season while giving back to customers who have supported the Bank throughout the year.

    According to him, “At Wema Bank, we value and appreciate our customers’ loyalty. This season, we are spreading love and giving back. We want to make the holiday season more memorable for our customers. I urge all existing and potential customers of the Bank to participate in any of the above options to win incredible prizes that they can use to celebrate the season.”

    The Wema 12 days of Christmas further reflects Wema Bank’s commitment to celebrating and giving back to customers. 

    The Bank continues to uphold the spirit of giving, ensuring customers feel valued and appreciated at every given opportunity.

  • Wema Bank claims third overall victory at Bankers Game

    Wema Bank claims third overall victory at Bankers Game

    Wema Bank has once again clinched the overall winning title at the 2024 Nigeria Bankers Game (NBG) for the third consecutive triumph at the prestigious event.

     The bank’s athletes excelled across multiple categories with an impressive 10 gold medals.

     Victories spanned disciplines such as table tennis (female singles, doubles, and mixed doubles), volleyball, scrabble, video games, 100m and 200m female, and the 4x100m female relay.

    Bukky Olorunmaye, a standout athlete from Wema Bank, was named Nigeria Bankers Game 2024 Female Athlete of the Year, recognizing her stellar achievements and dedication across various sports.

    The NBG serves as a unifying platform that fosters camaraderie, teamwork, and healthy competition among financial institutions. It brings together staff members from across the banking sector, showcasing the resilience, talent, and sportsmanship that define the industry.

    Read Also: Lookman, Ekong  omitted  from FIFPRO Men’s World XI

    Wema Bank’s Managing Director/CEO, Moruf Oseni, expressed his pride in the team’s success: “Winning the Nigeria Bankers Game for the third time in a row is a remarkable accomplishment that reflects the resilience, teamwork, and dedication of our staff.

    At Wema Bank, we are not just about financial innovation; we are enablers of dreams and champions of holistic development. This victory underscores our belief in empowering our people to excel in every aspect of life.

    Congratulations to all our athletes for their exceptional performance. We remain committed to fostering excellence in every endeavours.”

     Reacting to her recognition as Female Athlete of the Year, Olorunmaye said: “I am incredibly honoured to receive this recognition. Competing alongside so many talented individuals and representing Wema Bank has been a humbling and fulfilling experience.

    This award is not just mine—it belongs to my teammates and everyone who supported us.

    Together, we demonstrated the power of teamwork, and I am grateful to Wema Bank for giving us this platform to shine.”

    As Wema Bank celebrates this historic achievement, it reaffirms its commitment to raising the bar and redefining excellence.

     This third consecutive victory is a testament to the bank’s dedication to fostering a culture of resilience, innovation, and collaboration.

  • Wema Bank awards N145m to innovators

    Wema Bank awards N145m to innovators

    Wema Bank Plc has successfully concluded the 5th edition of its Hackaholics initiative, a premier ideathon designed to empower and support the nation’s brightest tech innovators.

    The grand finale, which took place in Lagos, witnessed a remarkable showcase of ingenuity and problem-solving prowess, culminating in seven startups sharing an impressive N145 million in prize money—nearly double the initial prize fund of N75 million.

    This year’s Hackaholics stood out with a record-breaking 3,500 applications from across Nigeria. From this pool, 10 finalists showcased innovative solutions addressing real-world challenges, ranging from education accessibility to sustainable agriculture, healthcare, and more.

    Feegor, the overall winner, was awarded the top prize of N50 million for its innovative B2B wholesale marketplace and SaaS platform. Feegor empowers SMEs to discover, negotiate, and source goods from verified suppliers while accessing credit through a Buy Now Pay Later (BNPL) model. This groundbreaking approach is set to drive growth and create significant economic impact.

    The first runner-up, Empayment AI, received N35 million for its AI-powered invoice discounting platform, revolutionizing how businesses manage payments. Bloom Beauty, the second runner-up, was awarded N20 million for its personalized, AI-curated solutions that are transforming the beauty industry.

    In the women-led category, MyTherapist secured the position of first runner-up, earning N12 million. MyTherapist connects users with mental health professionals, providing accessible and affordable therapy solutions for emotional well-being. Meanwhile, MyItura, an innovator delivering remote healthcare services, clinched the position of second runner-up in the women-led category, receiving N8 million.

    Both Northino and University X earned honorable mentions at the grand finale, each receiving N10 million. Northino was recognized for bridging traditional knowledge and modern technology through digital skills training for African native speakers, while University X impressed with its transparent, all-encompassing platform for tertiary education management.

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    The significance of these groundbreaking innovations was highlighted by Wema Bank’s CEO, Moruf Oseni, who shared his vision for the initiative. In his words, “We are delighted to celebrate the brilliance of our youth through the Hackaholics initiative. At Wema Bank, we are more than a bank; we are enablers of dreams and drivers of transformation. When I stood here earlier, the total prize money was N75 million. But, inspired by the potential we saw, we decided to increase the totalprize pool to N145 million. Wema Bank’s legacy of 79 years remains rooted in innovation, and with initiatives like Hackaholics, we continue to empower lives and shape the future.”

    Ugonna Ginigeme, CEO of Feegor and the overall winner, expressed heartfelt gratitude for the recognition and support. “I feel very grateful to God, my team, and everyone who has been part of this journey. Winning among so many great startups and entrepreneurs is humbling. I sincerely thank the MD, Wema Bank, and its management for this incredible opportunity. These are still early days, but we are determined to keep working, building, and creating a positive impact for SMEs and the Nigerian economy while building an all-around successful company.” Ginigeme said.

    Hackaholics 5.0 not only underscores Wema Bank’s legacy of innovation but also sets the stage for further technological advancements, fostering a generation of problem-solvers poised to reshape Nigeria’s future.

  • Wema Bank gifts seven outstanding innovators N145m

    Wema Bank gifts seven outstanding innovators N145m

    It was rain of cash for outstanding innovators who shone brightest at the just concluded Hackaholics 5.0 grand finale organised by Wema Bank.

    The participants who successfully concluded the 5th edition of the bank’s Hackaholics initiative, a premier ideathon designed to empower and support the nation’s brightest tech innovators, smiled home with cash prizes.

    The grand finale, which took place in Lagos, witnessed a remarkable showcase of ingenuity and problem-solving prowess, culminating in seven startups sharing an impressive N145 million in prize money—nearly double the initial prize fund of N75 million.

    This year’s Hackaholics stood out with a record-breaking 3,500 applications from across Nigeria. 

    From this pool, 10 finalists showcased innovative solutions addressing real-world challenges, ranging from education accessibility to sustainable agriculture, healthcare, and more.

    Feegor, the overall winner, was awarded the top prize of N50 million for its innovative B2B wholesale marketplace and SaaS platform. 

    Feegor empowers SMEs to discover, negotiate, and source goods from verified suppliers while accessing credit through a Buy Now Pay Later (BNPL) model. This groundbreaking approach is set to drive growth and create significant economic impact.

    Read Also: Nigeria to become net exporter to China soon, says DG China-Nigeria partnership 

    The first runner-up, Empayment AI, received N35 million for its AI-powered invoice discounting platform, revolutionising how businesses manage payments. 

    Bloom Beauty, the second runner-up, was awarded N20 million for its personalised, AI-curated solutions that are transforming the beauty industry.

    In the women-led category, MyTherapist secured the position of first runner-up, earning N12 million. MyTherapist connects users with mental health professionals, providing accessible and affordable therapy solutions for emotional well-being. 

    MyItura, an innovator delivering remote healthcare services, clinched the position of second runner-up in the women-led category, receiving N8 million.

    Both Northino and University X earned honorable mentions at the grand finale, each receiving N10 million. Northino was recognised for bridging traditional knowledge and modern technology through digital skills training for African native speakers, while University X impressed with its transparent, all-encompassing platform for tertiary education management.

    The significance of these groundbreaking innovations was highlighted by

     Wema Bank’s CEO, Moruf Oseni, said: “We are delighted to celebrate the brilliance of our youth through the Hackaholics initiative. At Wema Bank, we are more than a bank; we are enablers of dreams and drivers of transformation. When I stood here earlier, the total prize money was N75 million. But, inspired by the potential we saw, we decided to increase the total prize pool to N145 million. Wema Bank’s legacy of 79 years remains rooted in innovation, and with initiatives like Hackaholics, we continue to empower lives and shape the future.”

    Ugonna Ginigeme, CEO of Feegor and the overall winner, expressed heartfelt gratitude for the recognition and support. 

    “I feel very grateful to God, my team, and everyone who has been part of this journey. Winning among so many great startups and entrepreneurs is humbling. I sincerely thank the MD, Wema Bank, and its management for this incredible opportunity. These are still early days, but we are determined to keep working, building, and creating a positive impact for SMEs and the Nigerian economy while building an all-around successful company,” Ginigeme said.

  • 10 teams in Wema’s innovative programme compete for N75m

    10 teams in Wema’s innovative programme compete for N75m

    Wema Bank has announced the top 10 teams proceeding to the grand finale of Hackaholics 5.0, after the pre-pitch. 

    The top 10 finalists are University X, Empayment AI, BloomBeauty, Aceede, Fegor, Northino, Nimsy, MyTherapist, GbalePrime and MyItura.

    The pre-pitch is the precursor to Hackaholics 5.0 Grand Finale, with the theme: ‘Meta Idea: Catalysing Africa’s Growth Through Innovation.’

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    Finalists will battle for N75,000,000 worth of prizes. Included in the package is N30 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up, and N10 million for the top women-led team.

    Besides the prizes, winners will gain mentorship, networking and resources to scale their innovations globally, potentially boosting Nigeria’s economy and contributing to advancement of the African continent on the global scale.

    Noting the unique potential Hackaholics hold for African development, Babatunde Mumuni, chief transformation officer of Wema Bank, said: “Hackaholics embodies Wema Bank’s commitment to driving innovation and fostering youth empowerment. The enthusiasm demonstrated by youths in institutions visited is evidence of the creativity and determination of young Nigerians and tech enthusiasts, seeking a platform to hone their skills and maximise their creativity. This is why we birthed Hackaholics.”