Wema Bank completes ₦50bn special placement successfully

Wema Bank completes ₦50bn special placement with full subscription, boosting capital base and reaffirming investor confidence

The new capital raise follows the successful conclusion of Wema Bank’s ₦150 billion Rights Issue in September 2025, bringing the bank’s total qualifying capital to ₦264.87 billion well above the ₦200 billion minimum capital requirement for commercial banks with national authorization, as stipulated by the Central Bank of Nigeria (CBN).

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The bank described the second tranche of its capital management programme as a crucial step in reinforcing its balance sheet, enhancing liquidity, and ensuring long-term financial resilience.

Speaking on the achievement, Managing Director and Chief Executive Officer, Mr. Moruf Oseni, said the successful completion of the ₦50 billion special placement was a reflection of continued stakeholder confidence.

“We are delighted to have received all necessary regulatory approvals for our ₦50 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,” Oseni said.

According to the bank, proceeds from the placement will be channelled towards accelerating its digital transformation initiatives, expanding its market presence across retail, SME, and corporate segments, and increasing credit access to key productive sectors of the economy.

Wema Bank also noted that part of the funds will be invested in technology and human capital development to drive innovation, improve operational efficiency, and deliver superior customer experiences.

The successful completion of the ₦50 billion placement positions Wema Bank as one of the few Nigerian financial institutions to meet and surpass the CBN’s new capital threshold ahead of schedule a testament to its strategic foresight and commitment to long-term sustainability.

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With this latest achievement, Wema Bank completes ₦50bn special placement and further solidifies its reputation as a forward-thinking financial institution focused on creating lasting value for shareholders, customers, and the wider Nigerian economy.

Quadri Olaitan