Wema Bank, Nigeria’s oldest indigenous bank and pioneer of ALAT, marks its 80th anniversary, receiving national commendation from President Bola Ahmed Tinubu for its resilience and innovation

Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, officially celebrated its 80th anniversary on May 2nd, 2025.

The milestone was met with national commendation for the bank’s enduring legacy as Nigeria’s oldest and longest-surviving indigenous bank.

Established in 1945 as Agbonmagbe Bank Limited, Wema Bank played a crucial role in the growth of indigenous banking in Nigeria, breaking the colonial monopoly in the sector.

Over the past eight decades, Wema Bank has evolved into a leader in banking and innovation, consistently demonstrating its commitment to empowering Nigerians with access to financial services. Its 80-year journey stands as a testament to the potential for indigenous businesses to thrive in Nigeria.

In a congratulatory statement released on May 1, 2025, His Excellency, President Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, lauded Wema Bank for its unwavering resilience and technological innovations.

The fact that this great bank is even older than our beloved nation and is still thriving at 80, is a thing of pride and worthy of celebration.” – Moruf Oseni, MD/CEO, Wema Bank

He noted the bank’s consistent focus on supporting Nigerian businesses across key economic sectors with strategic advisory and financial support, vital for sustainable growth. President Tinubu expressed his confidence in Wema Bank’s continued success.

L-R: Governor of Ogun State, His Excellency Dapo Abiodun; Governor of Ondo State, His Excellency Lucky Aiyedatiwa, MD/CEO Wema Bank PLC, Moruf Oseni and Governor of Oyo State, His Excellency Seyi Makinde at the Wema Bank 80 Years Anniversary Gala Night Held in Lagos over the weekend…

Moruf Oseni, Wema Bank’s MD/CEO, expressed gratitude to the government, partners, customers, shareholders, and employees for their support throughout the bank’s 80-year transformation.

He highlighted the rarity of corporate longevity in Nigeria, emphasizing the pride in Wema Bank being older than the nation itself and still thriving.

Oseni reaffirmed the bank’s commitment to digital innovation, inclusive banking, and customer-focused service, with a bold vision to return to the top tier of banking in Nigeria, driven by purpose, innovation, and a deep focus on customers.

The 80th-anniversary Gala, held in Lagos on May 2nd, 2025, was attended by dignitaries including the Governors of Oyo, Ogun, and Ondo States, as well as representatives of Vice President Kashim Shettima and First Lady Senator Oluremi Tinubu, who conveyed the federal government’s appreciation for Wema Bank’s contributions to inclusion and economic development.