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Wema Bank Concludes ₦150 Billion Rights Issue with CBN & SEC Approval

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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.

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Jubril Adewale Tinubu: The Global Ascent of An Energy Titan

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Wale TinubuUnarguably, Jubril Adewale Tinubu, Group Chief Executive Officer, GCEO, Oando Plc, is one of the few who command a great deal of reverence in Nigeria’s vast and ever-evolving energy landscape.

To keen watchers of developments in the nation’s energy sector, Tinubu’s pedigree transcends more than being the  head honcho of Oando; he is the rare alchemy of audacity and foresight.

Today, his name has become synonymous with resilience and brilliance; he is also a figure whose influence transcends sectors, borders, and generations.

Interestingly, his reputation built on entrepreneurial flair and ingenuity has always earned him  worthy mention among an elite class of business leaders whose legacies are not just written, but engraved.

However, unlike some others who view Africa’s economic horizon through a haze of uncertainty, Tinubu sees opportunity beckoning to him always.

With this perspective, one easily understands Oando’s rise from a modest downstream operator to one of Africa’s most formidable integrated energy companies.

Oando, under the exemplary leadership and management style of Tinubu, has expanded across exploration, production, power, and renewables.

At every given opportunity, Tinubu hammers on the need for Africa to harness its own vast resources to define its destiny.

Given his trademark philosophy to act, tarry or strike with precision, he has been able to navigate Oando through global market shifts, regulatory waves, and economic downturns without so much noise.

Perhaps,this is the secret to his dazzling recognition and honour since the break of the outgoing year 2025. In January, he bagged the Investor / Transaction of the Year 2024 at the New Telegraph Awards in  Lagos.

The recognition followed Oando’s landmark $783 million acquisition of Agip Oil Company, a transaction completed in August 2024 and hailed as one of the year’s most significant moves in Nigeria’s economy.

But that was only a precursor to several other accolades for Tinubu, as he was again honoured with the prestigious Lifetime Awards at the Africa Energy Week, AEW, 2025.

Like the compass with which Oando navigates the nation’s unpredictable energy terrain, Tinubu is perpetually in quest of the opportunity to position the company as both a continental powerhouse and a symbol of African ingenuity.

Again, evidence that Tinubu’s influence has become global came to the fore when Oando emerged as the preferred bidder for the Trinidad refinery.

Despite a dip in revenue, Oando posted a $145 million profit in the first nine months of its 2025 fiscal year—a testament to disciplined strategy and Tinubu’s steady hand at the helm.

Meanwhile, the most significant signal of Oando’s next chapter came recently with an announcement that underscores Tinubu’s instinct for the future: Oando is diversifying into mining, with a sharp focus on lithium and other minerals critical to the clean-energy transition.

The company has already assembled a strong team of seasoned geologists and launched exploration activities across Nigeria, including a major program in Kebbi State. By the end of 2025, Oando aims to complete its field evaluations and identify a prime location for pilot lithium production.

With the global demand for rechargeable batteries—driven by tech and electric vehicles—skyrocketing, Tinubu is positioning Oando at the heart of the next energy revolution.

It is not for fun that his admirers fondly describe him as the man who sees tomorrow. He is a strategist sculpted by foresight, a leader driven by conviction, and a relentless believer in Africa’s potential.

In an age craving visionaries, Tinubu stands out- he is clear -eyed, bold, and prepared for the future he already sees taking shape.

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Energia launches graduate trainee programme to develop young professionals

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 Energia Limited launches a graduate trainee programme to accelerate career growth of young Nigerian professionals in the energy sector.

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Nigeria launches $10bn petroleum licensing round to boost production

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Nigeria launches 2025 petroleum licensing round to attract $10bn investment and unlock up to two billion barrels of oil.

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