Wema Bank has successfully met and exceeded the recapitalisation requirements set by the Central Bank of Nigeria (CBN), reaffirming its position as a national bank and marking a major milestone in its growth trajectory.
The bank achieved this feat following the successful completion of a ₦150 billion rights issue alongside a ₦50 billion special placement in 2025. This brought its total qualifying capital to ₦264.7 billion—well above the regulatory minimum of ₦200 billion. Notably, the exercise was concluded six months ahead of the CBN’s deadline, underscoring strong investor confidence and the bank’s solid financial standing.
In April 2026, the CBN confirmed that Wema Bank was among 32 financial institutions that successfully completed the recapitalisation process across various banking categories. The bank also ranked among the ten national banks that exceeded the required capital threshold, thereby retaining its national banking licence.
The recapitalisation marks a new phase of expansion for Wema Bank, strengthening its capacity to support customers, enhance financial services, and compete more effectively in Nigeria’s banking sector.
Speaking on the achievement, Managing Director and Chief Executive Officer, Moruf Oseni, described it as a defining moment for the institution. He noted that surpassing the regulatory requirement reflects the bank’s strategic direction, operational performance, and the trust of its shareholders.
The recapitalisation programme, introduced by the CBN in March 2024, requires national banks to maintain a minimum capital base of ₦200 billion. The policy aims to strengthen financial institutions, improve their resilience to economic shocks, and position them to support long-term economic growth.
Wema Bank responded by raising capital through the stock market, with strong participation from existing investors. The rights issue, which ran from April to May 2025, was followed by the special placement later in the year, ensuring the bank exceeded the required benchmark ahead of schedule.
This milestone also highlights the bank’s transformation over the years, particularly since regaining its national banking licence in 2015. Its ability to secure most of the capital from existing shareholders reflects sustained investor confidence and disciplined financial management.
Looking ahead, the bank plans to leverage its strengthened capital base to expand lending, enhance digital banking through ALAT, and introduce more innovative financial solutions across retail, SME, and corporate segments.
With this achievement, Wema Bank is positioning itself for accelerated growth, deeper market penetration, and a stronger role in driving economic development in Nigeria.
READ ALSO:
- NPFL Pauses Season for Two Weeks as Clubs Shift Focus to Federation Cup
- U.S. Travel Alert on Nigeria Sparks Debate as Government Downplays Security Fears
- Alleged ₦8.7bn Fraud: Court Admits Key Evidence Against Malami, Wife, Son
- Gov Dauda Lawal Hosts Chief of Defence Staff, Reaffirms Commitment to Security in Zamfara
- President Tinubu Approves New Police Academy Campus in Ogun State, Releases N15 Billion Take-Off Grant
