Wema Bank achieves N264bn capital base
…as Special Placement records 100% subscription
Wema Bank has completed its second tranche of N50billion capital raise through Special Placement that was subscribed by 100 percent.
In addition to the earlier N150billion Rights Issue that was successfully completed in September 2025, the total qualifying capital for Wema Bank is now N264billion, above the N200billion threshold.
This implies the bank further surpasses regulatory capital requirements for a commercial bank with national authorisation.
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The bank said all requisite regulatory approvals for its N50 billion Special Placement have been received.
This development marks another significant milestone in the execution of Wema 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.
Speaking on the development, Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, stated: “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 said.
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The proceeds from this capital raise will be deployed to continue the acceleration of Wema Bank’s digital transformation drive, deepen penetration across retail, SME, and corporate segments, and enhance the Bank’s lending capacity to key productive sectors of the Nigerian economy. It will also support ongoing investments in technology and human capital development — further strengthening operational efficiency and service excellence.
Wema Bank said it 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.
