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, 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.

BUA Cement faces crisis with Imiokpe host community in Edo, accused of exploitation, expired agreements, and disregard for mining laws

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