Wema Bank has successfully met and surpassed the recapitalisation requirements set by the Central Bank of Nigeria (CBN), reinforcing its standing as a national bank within the country’s financial system.
The milestone follows the completion of a ₦150 billion rights issue alongside a ₦50 billion special placement in 2025.
Combined, the capital-raising efforts increased the bank’s total qualifying capital to ₦264.7 billion, well above the ₦200 billion minimum threshold mandated for national banks by the apex regulator.
The recapitalisation exercise was concluded approximately six months ahead of the regulatory deadline, underscoring the bank’s strategic execution and investor confidence.
In April 2026, the CBN confirmed that Wema Bank was among 33 financial institutions that successfully met recapitalisation requirements across various banking categories.
Notably, the bank ranked among only 10 national banks that exceeded the stipulated capital base, thereby retaining its national banking licence.
The recapitalisation policy, introduced by the CBN in March 2024, requires national banks to maintain a minimum capital base of ₦200 billion as part of broader efforts to strengthen the resilience and capacity of Nigeria’s banking sector.
Wema Bank disclosed that the capital raise was driven largely by strong participation from existing shareholders.
The rights issue, which opened on April 14, 2025, and closed on May 21, 2025, recorded significant uptake, followed by a supplementary special placement later in the year.
Commenting on the development, the bank’s Managing Director and Chief Executive Officer, Moruf Oseni, described the achievement as a critical milestone in the institution’s growth trajectory.
He noted that the outcome reflects sustained investor confidence and alignment with the bank’s long-term strategic objectives.
Oseni stated that the strengthened capital base would enhance the bank’s capacity to expand lending, deepen its market footprint, and accelerate innovation in digital banking services.
He said the bank remains committed to supporting retail, small and medium-sized enterprises (SMEs), and corporate clients nationwide.
“This milestone strengthens our ability to compete at scale, deepen our market presence, and deliver more value to our customers across Nigeria through improved access to credit, enhanced digital banking experiences, and innovative financial solutions,” he said.
He further emphasised that the bank’s forward strategy is focused on driving customer-centric innovation and consolidating its role as a catalyst for economic growth across key market segments.
Since regaining its national banking licence in 2015, Wema Bank has pursued a growth strategy anchored on financial stability, capital expansion, and digital transformation.
Central to this strategy is its flagship digital banking platform, ALAT by Wema, which has played a significant role in broadening access to financial services.
