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Tag: Wema

  • Oseni donates 1-day salary to winner of Wema 1-day MD/CEO initiative for children’s day

    Oseni donates 1-day salary to winner of Wema 1-day MD/CEO initiative for children’s day

    Moruf Oseni, the MD/CEO of Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has donated his ONE DAY salary for May 27, to Chiderije Mbah, a 12-year-old child who emerged winner in the Wema Bank 1-day MD/CEO initiative for Children’s Day.

    The Wema Bank 1-day MD/CEO initiative was launched by the Bank on May 21, 2025, calling on Nigerian children to showcase their potential for leadership and career success in the banking industry, by uploading video submissions where they share their ideal role in the bank and why they deserve to win.

    Among dozens of entries received, 12-year-old Chiderije Mbah’s entry sparked outstanding recommendations for his embodiment of the role of MD/CEO, leading to his emergence as winner and an exclusive opportunity to become Wema Bank’s MD/CEO for Children’s Day.

    From his grand reception at the Bank’s Head Office Facility in Lagos to one-on-one meetings with top executives of the Bank, Nigerians across the world applauded in awe as Wema Bank set an unrivalled precedence by walking the talk in empowering children to be the leaders of tomorrow.

    Crowning it all off, Oseni, pulled an impressive surprise, giving out his one-day salary for May 27 to the 1-day Wema Bank MD/CEO, Chiderije Mbah, encouraging him to keep up the great work and work hard towards truly becoming an MD/CEO in the near future.

    Officially handing over the symbols of office to Chiderije, Oseni shed light on the Bank’s motivation for annually commemorating Children’s Day in such a grand and intentional manner.

    According to him, “As a Bank, our mission is to empower lives through innovation, and this is a mission we are committed to seeing through from cradle to grave, as encapsulated in our creed, ‘With You, All The Way’. This is why Children’s Day is so important to us. Every great man, woman or even institution, was once a child, so to forge the leaders of tomorrow, we need to begin today.

    Read Also: 12-year-old Mbah is One-Day MD/CEO of Wema Bank

    “We can all agree that Wema Bank has been walking the talk over the past 8 decades, thinking out of the box, and creating innovative ways to empower children for the right future. But today, in commemoration of Children’s Day 2025, we are taking things a step further and giving the leaders of tomorrow a platform to lead today. As Chiderije will be carrying out my duties for today, it is only right that he earns my one-day salary today. The Wema way is ‘work hard, reward hard’, and as MD/CEO for today, Chiderije will experience it first-hand. It is our hope that this will inspire not just him, but every other child to put in the good work and make us proud. Happy Children’s Day, from Wema Bank”, Oseni concluded.

    Expressing gratitude for the thoughtful gesture, Chiderije Mbah promised to make Wema Bank proud, adding “Thank you very much Sir, for trusting me with this great opportunity, and for always looking out for the children. I am proud to be a part of the Wema Bank family, the bank that not only supports our parents in raising us the right way but also empowers us with the tools and guidance that we need to become financially smart as we grow older. Today has shown me that the sky is just the starting point for every child, and I am excited to spread the word to other children. I look forward to learning from you, the experts, and getting more insights into what it means to be a leader, especially for an organisation like Wema Bank, that has stood strong for 80 years. Thank you again for giving me your time and trusting me with this important responsibility. I will make Wema Bank proud!”

    Since its inception in 1945, Wema Bank has earned a remarkable reputation for its intentional approach to empowering lives at all ages, in all demographics and across all generations. Beyond Children’s Day, the Bank’s top child-focused solutions, which are the Royal Kiddies Account for children ages 0-12 and the ALAT Xplore App for teens ages 13-17, continue to enable parents to build a stable future for their children, while empowering children with the financial resources and practical literacy skills they need to become financially responsible.

  • Wema Bank posts Profit Before Tax of ₦60.62b

    Wema Bank posts Profit Before Tax of ₦60.62b

    Wema Bank Nigeria has posted Profit Before Tax (PBT) of N60.62billion according to the bank’s unaudited Consolidated Financial Statements for the period ended September 30, 2024 released to the Nigerian Exchange Group. 

    This represents an increase of 174 per cent over the ₦22.13billion recorded in the corresponding period in 2023.

    Wema Bank’s balance sheet remained well structured with total assets growing by 38 per cent to ₦3,084.27 trillion in Q3 2024 from ₦2,240.06trillion in FY 2023. 

    The bank also grew its deposit base year-to-date by 23 per cent to ₦2,292.30billion from ₦1,860.57billion reported in FY 2023. 

    Loans and Advances grew by 25 per cent to ₦1003.28billion in Q3 2024 from ₦801.10billion in FY, 2023. NPL stood at 3.19 per cent as at Q3 2024. 

    The bank recorded an improved Q3 performance as Gross Earningsgrew by 91 per cent to ₦288.32billion (Q3 2023: ₦150.90bn)). Interest Income was up 81 per cent y/y to ₦229.11billion (Q3 2023: ₦126.67bn). 

    Non-Interest Income moved up 144 per cent y/y to ₦59.21billion (Q3 2023:₦24.23bn).

    Return on Equity (ROAE) peaked at 38.62 per cent , Pre-Tax Return on Assets (ROAA) of 2.64 per cent, Capital Adequacy Ratio (CAR) of 14.06 per cent and Cost to Income ratio of 60.47 per cent speak to the resilience of the brand.

    Wema Bank’s Managing Director/CEO Mr. Moruf Oseni said: “Our Q3 2024 numbers speaks to our resilience despite a tough operating environment. We will sustain our growth trajectory into 2025. 

    “The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 174 per cent. The growth of Gross Earnings by 91.07 per cent , Total Assets by 38 per cent and earnings per share at 328.1kobo shows the core improvements to our balance sheet. 

    “In addition, our cost to income ratio at 60.48per cent has witnessed significant improvement from the previous period,” Oseni said.

  • Recognition for Wema at Digital Banker awards

    Recognition for Wema at Digital Banker awards

    Wema Bank has received a total of three awards of excellence at The Digital Banker Global Sustainable Finance Awards Gala 2024, which held on Thursday, July 18th, 2023.

    The awards received include Outstanding Sustainable Finance – SME Finance, Best Digital Platform for Sustainable Finance and Sustainable Finance Professional of the Year – Africa.

    The Digital Banker Global Sustainable Finance Awards is an international award ceremony dedicated to honouring and celebrating the world’s preeminent, groundbreaking and cutting-edge financial service institutions who are distinguished for their unrivalled standards in incorporating environmental, social and governance (ESG) considerations, as well as driving sustainable finance and responsible investment practices across products, services, solutions, projects and initiatives.

    Providing unbiased and objective benchmarks for the global industry, this award recognises outstanding players across the world who are transforming the industry by setting new milestones for sustainable impact, positively enhancing triple bottom line profitability, and benefiting all key stakeholders.

    Recognised for its pivotal role in pioneering sustainable finance solutions and raising standards of excellence across the Nigerian financial services industry, Wema Bank received multiple accolades at The Digital Banker Global Sustainable Finance Awards, emerging winner across three award categories.

    The first is the Outstanding Sustainable Finance category which was awarded to the Bank for its remarkable SME Finance offering; the second, Best Digital Platform for Sustainable Finance, awarded to the Bank for its cutting-edge fully digital bank, ALAT; and the third, Sustainable Finance Professional of the Year in Africa, awarded to the Bank’s Head of Corporate Sustainability and Responsibility, Abimbola Agbejule.

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    From launching Africa’s first fully digital bank, ALAT, in 2017 to championing paperless operations across major touchpoints, and proliferating digital empowerment for diverse Nigerians across the nation, Wema Bank has earned a formidable reputation as a pioneer of digital innovation and sustainable impact in Nigeria. The Bank continues to empower lives through various solutions and initiatives like the FGN-ALAT Digital Skillnovation Programme, NYSC-ALAT Accelerator Programme and Hackaholics, among others, promoting sustainable development for customers of all ages. Beyond these, Wema Bank’s Green Energy Finance Facility has served as a gamechanger for sustainability in Nigeria, providing up to N10,000,000 in uncollaterised loans and N750,000,000 with collateral, specifically for the purchase of renewable energy solutions. In view of the Bank’s exceptional footprints across digital and sustainability, Wema Bank is unarguably not just a pioneer of sustainable innovation but also an enabler.

    Representing Moruf Oseni, the Managing Director of Wema Bank, the Bank’s Chief Digital Officer, Olusegun Adeniyi, received the first two awards on behalf of the Bank, underscoring the Bank’s commitment to utilising digital innovation for sustainable impact. “Digital is in the core of our DNA at Wema Bank, and it runs through all we do. It is undeniable that digital is the future so to ensure that our customers continue to thrive sustainably, we have undertaken the responsibility of championing digital empowerment with attention to sustainable societal impact; as captured in our sustainability vision, ‘providing digital solutions for societal impact’. This vision continues to fuel our actions and solutions, and we are honoured that our impact is being recognised. ALAT stands as the standard in the financial services industry, being the first fully digital bank in Africa and through ALAT, we have been able to reduce footfall in physical locations as well as reduce carbon footprint across our touchpoints by digitisingprocesses. We have established our place as an industry leader in promoting sustainable development and empowering lives through innovation, and we will not relent in both pioneering sustainable impact but also enabling the Nigerian people to become pioneers of sustainable innovation in their own right. We extend our gratitude to The Digital Banker for acknowledging the great work that we do, and we receive this award as inspiration to do even more towards a sustainable future for all”.

    Wema Bank’s Head of Corporate Sustainability and Responsibility, and recipient of the third award, Sustainable Finance Professional of the Year in Africa, Abimbola Agbejule, further charged institutions to intentionally promote sustainability for the benefit of the Nigerian people. According to her, “This is a testament to all the good work that we do at Wema Bank, and I must say thank you to all the sustainability champions bank-wide who continue to help us implement the sustainability and ESG initiatives that we design for the Bank. As we continue to make positive impact, we look forward to more milestones, achievements and successes, truly implementing our sustainability vision of developing digital solutions for societal impact. I thank The Digital Bankers for the recognition and well done to all other banks who have embedded ESG and Sustainability in all their practices. Together, we will build a more sustainable future for all”.

    The Managing Director of The Digital Banker, Nirav Patel, added, “This is a truly special occasion as we recognise, honourand celebrate industry leading initiatives introduced by worldwide financial services organisations as they leverage innovation and technology to deliver unique solutions that truly incorporate the principles of sustainable and responsible banking. The movement for sustainable finance is poised for further growth and every organisation recognised here today, has shown a serious commitment towards introducing solutions, strategies and frameworks that will benefit all stakeholders and provide sustainable returns. These banks have enhanced their sustainable finance portfolio while strengthening efforts to maintain operational resilience amid evolving risks, and we are honoured to recognise them. Congratulations to you on receiving this award and thank you for your positive impact”.

    Wema Bank continues to reset standards in the Nigerian financial services industry and is fast penetrating the international landscape, pioneering futuristic solutions and positively transforming lives. With solutions extending across diverse verticals and demographics, Wema Bank has earned its reputation as Nigeria’s foremost innovative bank and an enabler of positive transformation for all.

  • Wema affirms commitment to women empowerment

    Wema affirms commitment to women empowerment

    Wema Bank’s Managing Director, Moruf Oseni, has stressed the need for inclusion and equity for women in the workplace.

    He said the bank would support and promote women.

    Oseni spoke at Wema Bank International Women’s Day programme: “Empowerment through finance,” in Lagos.

    He noted the bank earmarked N8.9 billion as uncollateralised loans and supported businesses of women.

    “… The first thing we need to talk about is why support women? It’s important. I’ve never seen a plane that will fly on one wing. It’s important to ensure there’s inclusion and equality in the workplace. We are deliberate in Wema, as we recruit a good number of women.

    Read Also: Wema Bank lifts SMEs with payment solutions

    “We make sure women are guided through their career. We also create enabling environment for them and they’re not disadvantaged against the men. But we do not just talk about it, we put our words in to action…”

    “There’s a proposition we call Sarah for Women, with a lot of products, which includes mentoring and coaching”.

    Oseni said it was important to ensure more women are in Science, Technology, Engineering and Mathematics (STEM).

     Chair of Wema’s Board of Directors, Oluwayemisi Olorunshola, said SARA has transformed lives.

  • Wema celebrates season of love with rewards for staff, customers

    Wema celebrates season of love with rewards for staff, customers

    Wema Bank has launched its 2024 Love Adventure campaign, offering customers and staff an outstanding range of rewards and cash prizes in February.

    Themed ‘Your Love Adventure Is Possible With ALAT,’ the campaign will simultaneously promote a culture of love and appreciation among Wema Bank’s internal and external audiences, while showcasing the indispensable role that the bank plays as a support system in the daily lives of all customers.

    The Love Adventure Campaign will empower Wema Bank customers with resources and opportunities to bring their plans for the love season to life, additionally enriching them with a plethora of rewards via its digital platform, ALAT.

    Commenting on the bank’s inspiration for curating the Valentine’s Day campaign, Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, attributed it to the bank’s commitment to providing an exceptional banking experience for every customer and being a support system for all stakeholders.

    “Every day is Valentine’s Day for our customers but that doesn’t mean we would settle for the bare minimum in celebrating the season of love. We brought a unique twist to Valentine with this month-long celebration and made the decision to be our customers’ ‘Val’, reinforcing our commitment to supporting their lives and being with them all the way. It’s beyond Valentine’s Day, this is Valentine’s month at Wema Bank.

    Read Also: Wema Bank Q3 gross earnings up 130%

    “This is going to be a love season like never before and we are thrilled to be the brain behind this. I encourage everyone to tap into this unique opportunity that we have presented through the Love Adventure Campaign. All they have to do is download ALAT to enjoy the discounts and financial rewards we have prepared for them and follow our social media accounts to ensure they don’t miss any update as the season unfolds. We’ve got something for everyone this love season.

    “From a N9,000,000 cash prize in the Wema Bank 5 for 5 Promo Season 3, to a 10 per cent discount on all GAC cars, free prepaid gift cards worth N10,000 for ALAT customers, car loans and device loans—including a whopping N100,000 off all Samsung S24 Series device loan purchases on ALAT, free airtime and data for customers who transact on ALAT and *945#, free Dakore skincare products and discounts on 5-star restaurants on ALAT Rewards; the season of love promises to be an unforgettable experience for all Wema Bank customers.”

    The ALAT Love Adventure Campaign is set to run all through February 2024 and will transform the experiences of all Wema Bank customers, creating an unforgettable love season for all.

    The employees of Wema Bank have also not been left out as an array of thrilling activities and opportunities have been curated to reinforce the positive work culture that Wema Bank is known for and sustain the spirit of love within the bank.

    With the vast measure of rewards awaiting Wema Bank customers, the Bank has redefined the standards for the love season with this month-long extravaganza and the season promises to be an adventure like none other.

  • Wema Bank eyes ‘systemically important’ status with N40b recapitalisation

    Wema Bank eyes ‘systemically important’ status with N40b recapitalisation

    Wema Bank Plc will use the net proceeds of its ongoing N40 billion rights issue to finance ambitious expansion plan aimed at transitioning the bank into a “systemically important bank”.

    “Systemically important bank” (SIB) is a general reference to a bank with considerable influence on deposits, loans, reach and other key indices within the financial services sector.

    Wema Bank is raising about N40 billion in new equity funds from its existing shareholders through a rights issue of 8.572 billion ordinary shares of 50 kobo each at N4.66 per share to all shareholders on its register as at close of business on Thursday, September 28, 2023.

    The rights were pre-allotted on the basis of two new ordinary shares for every three shares held as at the September 28, 2023. After the conclusion, a fully allotted rights will increase the bank’s issued shares by 67 per cent.

    In a document obtained at the weekend on the rationale for the N40 billion rights issue, Chairman, Wema Bank Plc, Dr. Oluwayemisi Olorunshola, outlined that the additional capital being sought would be deployed to further grow and scale the bank’s operations as it transitions into a “systematically important bank (SIB).

    According to her, the rights issue also provides the bank opportunity to proactively address the planned recapitalisation of the banking industry by the Central Bank of Nigeria (CBN).

    CBN Governor, Dr Olayemi Cardoso, had recently said the apex bank would direct banks to increase their capital base, although details of the capital requirements and timeline are still being finalised.

    “The rights issue also presents you our esteemed shareholders the opportunity to increase your investments in the bank whilst presenting the bank with the opportunity to position for expansion and prepare for future but imminent recapitalisation directive by the Central Bank of Nigeria,” Olorunshola said.

    She said the bank’s objectives in raising additional capital included to improve its capital adequacy ratio, deepen ability to withstand systemic shocks, enable further scaling up of operations without restrictions and improve key financial indicators in transition into a SIB by attaining lower cost of funds and cost to income profile among others.

    “The bank shall apply the net proceeds of the rights issue to implement a digital first banking strategy designed to strengthen our push towards becoming a leading digital banking player in Nigeria and beyond. Improve our key financial indicators as we seek to transition into a Systemically Important Bank.  Improve our customer experience capabilities to improve our customers’ financial service options and satisfaction levels. Shore up our capital base so as to be better capitalised and well positioned ahead of a potential capital increase by the Central Bank of Nigeria,” Olorunshola stated.

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    She explained that the bank as a pre-eminent indigenous financial services institution with over 75 years’ operating history, has undergone various stages of repositioning exercises since 2009 which has resulted in significant growth in its brand, operational and financial profile.

    “Our bank has been able to grow its total assets from N300 billion to nearly N2 trillion within the 10-year period of raising additional capital in 2013 thus, demonstrating the bank’s aggressive growth strategies and value prospects when further capitalised.

    “Furthermore, some of the major milestones achieved by our bank includes the repayment of all its outstanding CBN obligations, a N40 billion recapitalisation to operate as a Regional Bank in 2011, an upgrade to a National Bank in 2015, the launch of ALAT in 2017, the first fully digital bank in Nigeria which has and will continue to be instrumental in driving the bank’s growth and the additional tier 1 capital raised earlier in the year of up to N21 billion which will enhance our bank’s financial stability and provide a buffer against potential losses,” Olorunshola said.

    She urged shareholders to pick up their rights as this would help in ensuring that the bank is well positioned to achieve its strategic growth objectives.

  • Wema records strong Q3 result

    Wema records strong Q3 result

    Wema Bank has announced its unaudited results for third quarter ended September 30, showing improved performance.

    In a statement yesterday, the bank said it continued its growth trajectory and momentum, adding it achieved gross earnings of N150.90 billion, a 61 per cent increase.

    The bank said nterest income went up 61 per  cent year on year to N126.67 billion. Non interest income jumped 58 per cent to N24.23 billion.

    The statement said Profit Before Tax  soared to N21.76 billion of 130 per cent over N9.46 billion in Q3 2022. Similarly, Profit after Tax increased  by 131 per cent to N18.88 billion (N8.19 billion in Q3 2022).

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    Chief Executive, Moruf Oseni said: “Our Q3  results saw improvements with profit before and after tax growing 130 per cent and 131 per cent. It has been a good performance for Wema with earnings growing by 61 per cent  and earnings per share at 199.6 kobo.

    “In addition, our cost to income ratio at 71.11 per cent witnessed improvement.The bank succeeded in the completion of raising its AT1 capital amounting to N21 billion after obtaining CBN approval…“

    The bank has commenced its N40 billion capital raising exercise with its application to SEC to approve the issue. It has the yearged and consulted several critical shareholders and stakeholders, with a plan to wrap up before year end 2023.”

  • Wema rewards best teachers

    Wema rewards best teachers

    By Joshua Uche

    Wema Bank has rewarded winners of Wema Celebrates Teachers competition, an innovative campaign to celebrate and reward teachers who made impact in the profession.

     At the event at Oriental Hotel, Lagos, it presented cheques to the top three teachers in the competition.

      Olawale Gbenusola, from Vetland Senior Grammar School, Lagos, (first), got N2 million cash prize; Raheem Hassan, from Araromi Ilogbo Secondary School, Lagos (second), got N1.5 million; and Adeniran Adedoyin, from Dolphin Junior High School, Lagos (third), got N1 million.

     Chief Executive Officer, Moruf Oseni, said the bank is committed to promoting excellence and innovation in education.

    Read Also: DESOPADEC lifts 195 youths with multimillion naira skills, tools, cash

    He said: “Teachers deserve to be celebrated for their efforts in shaping young minds and moulding their future.

    “At Wema, we are proud to honour these teachers’ dedication to the service. We believe when there is proper funding and support to education, our children will be impacted positively and the country will benefit.”

    Third place winner Adedoyin said: “I am excited and happy to be recognised. I thank Wema for seeing the work we do and for celebrating our impact in the country…”

    Wema Celebrates Teachers Competition began on September 18, and application closed on September 29. It involved pupils nominating teachers who made impact on their lives and deserved celebration and recognition.

    The competition received over 60 entries, which were reviewed to identify the top 10 teachers. From the pool, three winners were chosen.

  • Wema Bank, Selar partner on digital economy

    Wema Bank, Selar partner on digital economy

    Wema Bank has partnered Selar, Africa’s largest creator platform, to empower African creatives and bridge the prevalent gaps in the creative space.

    The partnership has birthed a webinar entitled: “The digital economy and the future of work”, a learning and problem-solving webinar aimed at helping Africans, especially Nigerian-creators to maximise their potential and leverage available resources to transform their creativity into sustainable streams of income.

    In a world where work is evolving, the concept of employment is undergoing a profound transformation. The creator economy is reshaping the digital landscape, granting young individuals unprecedented opportunities to create and monetise knowledge as never before.

    Generation Z and Millennials are harnessing the creative space to attain financial independence by selling digital content and forging careers as creators.

    Scheduled for September 29, 2023, this webinar promises to illuminate the challenges and prospects that creators encounter as they navigate this exhilarating terrain. It offers invaluable insights into effectively tapping into its potential.

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    According to a survey conducted by Selar, one in every four creators is an employer, a testament to the potential for creators not only to earn but to create job opportunities, thus bolstering the African Creator Economy as a stable and lucrative source of income. This, in turn, promises to reduce unemployment rates in Africa, contributing to the achievement of the Sustainable Development Goals.

    Solomon Ayodele, Head of Innovation & Corporate Transformation at Wema Bank and one of the speakers at the event, commended the bank’s commitment to innovation, recounting the bank’s storied history of resilience and technological advancement. He affirmed Wema Bank’s dedication to equipping its customers with practical knowledge to help them monetize the digital sphere effectively.

    According to Douglas Kendyson, the C.E.O. of Selar and another speaker at the event, the dream is for the partnership to mark the beginning of a strong network of groundbreaking initiatives from both powerhouses-Wema Bank and Selar-to revolutionise the creative space in Africa and build more jobs for Africans all over the world. “I’ve been in the tech space for years now and Wema Bank has been at the forefront of innovation-from digital banking alternatives like ALAT to youth-empowering technology programmes like Hackaholics and much more-all of which have shaped the entire FinTech industry, which is why this partnership is so important to us at Selar.

    This highly anticipated event would demystify the complexities of the creative space, with a distinct focus on the African context. Key speakers for the webinar include Douglas Kendyson, Solomon Ayodele, Benjamin Dada (Founder/Publisher, Benjamin Dada Blog), and Senior Manoa, one of Nigeria’s premier creators. Attendees can expect to gain valuable insights into the challenges and opportunities faced by creators across the African continent, the pivotal role of financial institutions in fostering the growth of the creator economy, and practical guidance for establishing and enhancing successful online businesses with digital products.

  • Wema Bank appoints new MD

    …Oluketuyi retires

     

    Wema Bank Plc has announced the appointment of Ademola Adebise as its new Managing Director/CEO. Adebise, who was previously the Deputy Managing Director of the bank, replaces Segun Oloketuyi effective July 1, 2018. Adebise’s appointment is subject to the approval of the Central Bank of Nigeria (CBN).

    The bank also yesterday announced the retirement of Oloketuyi, following almost a decade of being at the helm of the bank.“On behalf of the Board and Management of the Bank, I want to thank Oloketuyi for his service and wish him the best in his future endeavours,” Wema Bank’s Company Secretary and Legal Adviser, Oluwole Ajimisinmi said.

    Oloketuyi was named Managing Director/Chief Executive Officer of Wema Bank Plc in June 2009, with the task of returning the Bank to profitability following the 2008 banking crisis which saw the collapse of many banks. At the time, Wema Bank had negative retained earnings in excess of N45 billion and was declared a bank in grave financial situation by the regulatory authority.

    However, under his leadership, the fortunes of the Bank was completely turned around, leading to the recapitalization of the Bank and its return to profitability. The Bank is now positioned to deliver dividends to shareholders.

    As part of a turnaround plan which Oloketuyi led, the Bank also regained its national banking license from the Central Bank of Nigeria, which has allowed it to expand to the Northern and Eastern parts of the country, significantly increasing its market share and customer base in the process.

    Read Also: Wema Bank empowers SMEs

    The outgoing Wema Bank MD prioritized the use of technology to deliver improved service to customers, culminating into the launch of ALAT, which offers branchless banking services.

    Adebise has been part of the bank’s Executive management team since 2009 and has played a pivotal role in the execution of the Strategic turnaround plan of the Bank. He has over 28 years’ experience in the banking industry (inclusive of four years in management consulting), and has worked in various capacities in Information Technology, Financial Control & Strategic Planning, Treasury, Corporate Banking, Risk Management and Performance Management.

    Before joining Wema Bank, Adebise was Head, Finance & Performance Management Practice at Accenture (Lagos Office) where he led various projects for banks in Business Process Re-engineering, Information Technology and Risk Management.

    He is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and a holder of a Bachelor’s degree in Computer Science from the University of Lagos. He also holds a Master’s degree in Business Administration (MBA) from the Lagos Business School.

    Adebise is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also an Associate of the Chartered Institute of Taxation and Computer Professionals (Registration Council of Nigeria). He is an honorary Member of the Chartered Institute of Bankers of Nigeria (HCIB) and a member of the Institute of Directors.

    The Board of the bank expressed confidence that Adebise’s appointment will lead to the continued transformation and growth of the bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.