Wema Bank has successfully exceeded the recapitalisation requirements set by the Central Bank of Nigeria, securing its position as a national bank and reinforcing its standing within the country’s financial sector.
The milestone follows the bank’s completion of a ₦150 billion Rights Issue alongside a ₦50 billion special placement in 2025, raising its total qualifying capital to ₦264.7 billion—well above the regulatory minimum. Notably, the exercise was finalised six months ahead of the deadline set by the apex bank, highlighting strong investor confidence and the institution’s solid financial footing.
In April 2026, the Central Bank confirmed that Wema Bank was among 32 financial institutions that successfully met recapitalisation requirements across various categories. The bank is also one of only ten national banks that surpassed the required capital threshold, ensuring the retention of its national banking licence.
The recapitalisation policy, introduced in March 2024, mandates national banks to maintain a minimum capital base of ₦200 billion. The move is aimed at strengthening the resilience of financial institutions, improving their shock-absorption capacity, and positioning them to support long-term economic growth.
Commenting on the achievement, Managing Director and Chief Executive Officer, Moruf Oseni, described it as a defining moment for the bank. He noted that exceeding the regulatory benchmark reflects the effectiveness of Wema Bank’s strategy, its performance, and the continued trust of shareholders.
According to him, the strengthened capital base will enhance the bank’s ability to expand operations, provide improved access to credit, and deliver more advanced digital banking services through its flagship platform, ALAT.
Since regaining its national banking licence in 2015, Wema Bank has pursued a steady growth strategy anchored on financial discipline and innovation. The recent capital raise, largely supported by existing shareholders, further underscores investor confidence in the bank’s long-term vision.
With a stronger balance sheet, the bank is now better positioned to deepen its presence across retail, SME, and corporate segments, while playing a more significant role in driving economic development in Nigeria.
As it enters a new phase of growth, Wema Bank says it remains focused on expanding its reach, enhancing customer experience, and delivering sustainable value, while continuing to innovate and strengthen its impact across the financial landscape.
READ ALSO:
- Ex-Council Officials Hail Abiodun as Ogun Settles ₦3.5bn Severance Debt
- INEC: Lagos, Kano, Kaduna Lead States With Highest Registered Voters Ahead Of 2027
- Nigeria At 66: The Generation That Refused To Die With The Country. | The Surge By Boma Lilian Braide(Esq)
- Friday Faaji Live Set to Debut at SixFriends Lounge Sky Bar
- Olu of Warri’s camp tells Dokubo to show proof of ₦2.7trn pipeline claim
