Wema Bank Plc has successfully concluded its ₦50 billion special placement, marking the completion of the second tranche of its ongoing capital raise programme.
The offer was fully subscribed, further solidifying the bank’s financial strength and surpassing the regulatory capital requirement for commercial banks with national authorization.
With this milestone, Wema Bank’s total qualifying capital now stands at ₦264.87 billion, well above the Central Bank of Nigeria’s (CBN) minimum requirement of ₦200 billion.
This follows the successful completion of the bank’s ₦150 billion Rights Issue in September 2025, underscoring Wema Bank’s proactive approach to capital adequacy and sustainable growth.
Speaking on the development, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, described the feat as “a major step in the Bank’s strategy to strengthen its capital base, enhance liquidity, and position for long-term expansion.”
“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,” Oseni said.
“We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”
According to the bank, proceeds from the capital raise will be strategically deployed to deepen its retail and SME market penetration, expand lending to key productive sectors, and accelerate its digital transformation initiatives. The funds will also support further investments in technology, operational efficiency, and human capital development.
The completion of this round positions Wema Bank for stronger financial performance and increased capacity to contribute to Nigeria’s economic growth and financial inclusion drive.