Wema Bank PLC (Bloomberg: Wema NL) has announced the successful completion of its second tranche capital raise of ₦50 billion through a special placement.
- ₦50 billion special placement fully subscribed at 100%
- Total qualifying capital reaches ₦264.87 billion, exceeding the ₦200 billion regulatory minimum
- Bank surpasses Central Bank of Nigeria requirements for Commercial Banks with National Authorisation
The bank has received all necessary regulatory approvals for the private placement, which follows the successful completion of a ₦150 billion rights issue in September 2025. Combined, these initiatives have elevated Wema Bank’s qualifying capital well above the CBN’s revised minimum threshold for its license category.
Commenting on the milestone, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, expressed satisfaction with the outcome: “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.”
Mr. Oseni thanked shareholders, regulators, and customers for their continued confidence in the bank’s strategic direction.
Strategic Deployment
The capital raised will be channelled toward several strategic priorities, including accelerating the bank’s digital transformation initiatives, expanding market presence across retail, SME, and corporate segments, and increasing lending capacity to productive sectors of the Nigerian economy. Additional investments will target technology infrastructure and human capital development to drive operational efficiency and service delivery.
This capital management program represents a critical component of Wema Bank’s growth strategy as it seeks to deliver enhanced shareholder value, provide innovative financial solutions, and contribute to Nigeria’s broader economic development and financial inclusion goals.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.