Wema Bank Plc (“the Bank”) announces the successful completion of its ₦150 billion Rights Issue, which opened on April 14th,2025, and closed on May 21st,2025. The exercise has received formal approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission.
This Rights Issue was undertaken in response to the CBN’s directive on the recapitalization of banks in Nigeria. With the successful completion and regulatory approval, Wema Bank has now met the
₦200 billion minimum capital requirement applicable to commercial banks with national authorization.
In addition to the Rights Issue, Wema Bank also recently concluded a ₦50 billion Private Placement, which is now awaiting regulatory reviews. This additional capital raises the Bank’s total capital base above the regulatory threshold, further strengthening its buffer, enhancing its shock-absorption capacity, and positioning the Bank for sustained growth.
Commenting on the Bank’s success in meeting the regulatory threshold ahead of the 24-month timeline, Moruf Oseni, Wema Bank’s MD/CEO, reaffirmed the Bank’s promise of delivering the best value as it continues its growth journey. According to Oseni, “As a growth-driven Bank, the industry recapitalization requirement came as a welcome mission, and we undertook it with full confidence. Our success in surpassing the ₦200 billion benchmark ahead of the 2026 deadline not only reinforces our strong financial standing as a bank but also attests to the mutual trust and confidence that exists between Wema Bank and its shareholders. We do not take this trust for granted and we take this moment to firmly reiterate our commitment to continue delivering optimum value to every shareholder and stakeholder of Wema Bank.”
The conclusion of these capital-raising initiatives reinforces the Bank’s prudential position and provides a solid foundation for long-term stability. It also reflects the continued confidence of stakeholders in Wema Bank’s governance, financial performance, and strategic direction.
Wema Bank remains committed to full regulatory compliance and prudent risk management. With its strengthened capital base, the Bank is well positioned to support customers, contribute to the stability of the Nigerian financial system, and deliver sustainable value to its stakeholders.

The Group Chief Executive  of Oando PLC, Mr. Adewale Tinubu, has identified visa restrictions across African countries as a major barrier to investment and economic integration on the continent.

Speaking on Sunday at the ongoing Intra-African Trade Fair (IATF 2025) in Algiers, Algeria, during a session titled “African Giants: In Conversation with Two of Africa’s Most Active Industrialists”, Tinubu argued that the requirement for investors to obtain visas before visiting different African countries discourages trade and collaboration.

“Something as basic as visas should not be a stumbling block. You can get one European Union visa to go to 20 countries, but in Africa, I still needed a visa to come to Algeria. If we are really serious about integration, people who are ready to do business should not need visas to move across the continent,” he said.

He described the current system as “archaic and ridiculous,” noting that it is often easier for African businesses to operate in Europe or the Middle East than within Africa itself. Tinubu cited personal experience, saying: “The reason why we don’t come to Algeria often is that it is difficult to get here, just like it’s difficult for Algerians to come to Nigeria. Sometimes, it can take four weeks to get a visa, so instead people go to Dubai.”

The Oando boss also stressed the need for political stability, rule of law, and fair economic policies to attract and retain investment in Africa. “No one wants to invest in a country where the government keeps changing every other week. Investors want to know their capital is protected. Exchange rates, interest rates, access to capital, and ease of doing business are the real drivers of trade,” he explained.

Sharing insights from his own entrepreneurial journey, Tinubu said Oando’s success has been anchored on resilience and a commitment to excellence. “We want to do the impossible, and we strive at it. We are audacious and focused on excellence in everything we do,” he said.

IATF 2025, organized by Afreximbank in partnership with the African Union Commission and the AfCFTA Secretariat, is bringing together businesses, investors, and entrepreneurs from across the continent. With Africa’s population exceeding 1.4 billion and a GDP of over $3.5 trillion, the fair is expected to significantly boost intra-African trade, create jobs, promote industrialization, and enhance global competitiveness.

The event, which began on Thursday, will run until Wednesday, September 10, 2025, with Oando Plc listed among its major sponsors.

The Group Chief Executive, Oando Plc, Mr. Jubril Adewale Tinubu, is scheduled to speak tomorrow, Sunday at the ongoing Intra-African Trade Fair 2025 holding in Algiers in Algeria. Tinubu will be doing so alongside Mr. Habes Amor, CEO, Faderco, Algeria as they lead the session in conversation with Africa’s industrial leaders.
Earlier on Saturday, Tinubu was also the cynosure of all eyes during the Fireside chat, where he drew lessons from experiences garnered over the years and gave business advice on a number of issues.
IATF is being organised by Afreximbank in partnership with the African Union Commission and AfCFTA Secretariat. IATF 2025 is the ultimate marketplace for African businesses, investors, and entrepreneurs.
It is expected to boost intra-African trade significantly over the coming years. Increasing intra-African trade can foster industrialization, promote value addition, create jobs, and enhance competitiveness on the global stage.
With access to over 1.4 billion people and a GDP exceeding $3.5 trillion, this event is a game-changer for intra-African trade
to bring together continental and global players to explore business and investment opportunities in Africa, to serve as a marketplace where buyers and sellers meet and explore business opportunities,
to share trade, investment and market information and to identify solutions to address the challenges affecting intra-African trade.
It is also to share information about trade finance and trade facilitation interventions provided by Afreximbank and similar financial institutions to provide a broad platform that connects a broad spectrum of tradable and trade-facilitating activities, namely creative industry, automotives, seminars and workshops etc.
The event which began on Thursday will end on Wednesday, 10th September, 2025. Oando Plc is among the major sponsors of the event.