Wema Bank PLC (Bloomberg: Wema NL) (“Wema” or “the Bank”) declares completion of its second tranche of N50billion capital increase.
• N50billion Special placement subscribed by 100%
• Total Qualifying Capital now N264billion; above N200bn threshold
• Bank additional surpasses regulatory necessities for Commercial Bank with National Authorization
Wema Bank Plc is happy to announce that it has acquired all requisite regulatory approvals for its ₦50 billion Private Placement capital increase. This is along with the sooner ₦150bn Rights Issue that was efficiently accomplished in September 2025. The Bank now has a complete of ₦264.87billion in qualifying capital, above the minimal requirement of N200bn for a Commercial Bank with National Authorization.
This improvement marks one other vital milestone within the execution of the Bank’s capital administration program geared toward fortifying its steadiness sheet, supporting future development ambitions, and guaranteeing full compliance with the Central Bank of Nigeria’s (CBN) revised minimal capital necessities.
Speaking on the event, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, acknowledged:
“We are delighted to have received all necessary regulatory approvals for our ₦50 billion special placement. This marks another major step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustained growth. We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”
The proceeds from this capital increase will probably be deployed to proceed the acceleration of Wema Bank’s digital transformation drive, deepen penetration throughout retail, SME, and company segments, and improve the Bank’s lending capability to key productive sectors of the Nigerian economic system. It may also assist ongoing investments in expertise, and human capital improvement — additional strengthening operational effectivity and repair excellence.
Wema Bank stays steadfast in its mission to ship superior worth to shareholders, empower prospects by means of progressive {financial} options, and contribute meaningfully to Nigeria’s {economic} development and {financial} inclusion aims.
