Wema Bank has announced that it has successfully met and surpassed the recapitalisation requirements set by the Central Bank of Nigeria, CBN reaffirming its status as a national bank.
The lender disclosed that its Total Qualifying Capital rose to ₦264.7 billion following the completion of a ₦150 billion Rights Issue and an additional ₦50 billion special placement in 2025. This places the bank well above the ₦200 billion minimum capital threshold stipulated by the apex bank.
The recapitalisation exercise was concluded six months ahead of the CBN’s deadline, underscoring Wema Bank’s strong financial position and investor confidence.
The CBN had, in March 2024, introduced a recapitalisation programme requiring national banks to maintain a minimum capital base of ₦200 billion as part of efforts to strengthen the resilience of financial institutions and position them for sustainable growth.
In April 2026, the regulator confirmed that Wema Bank was among 32 financial institutions that successfully completed the exercise across various banking categories. Notably, the bank is among only ten national banks that exceeded the required capital threshold, thereby retaining its national banking licence.
Commenting on the milestone, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, described the development as a defining moment for the institution.
He said the successful recapitalisation validates the bank’s long-term strategy, performance, and the confidence reposed in it by shareholders and stakeholders.
“We have not only met the CBN’s requirements; we have exceeded them, reinforcing our position as a national bank with the scale, strength, and stability to compete and lead,” Oseni said.
He added that the strengthened capital base would enable the bank to expand its market presence, enhance access to credit, and deliver improved digital banking experiences through its flagship platform, ALAT.
The bank noted that the capital raise, largely driven by existing shareholders, reflects sustained investor trust and its disciplined execution over the years.
Wema Bank said the milestone marks the beginning of a new phase of accelerated growth, positioning it to deepen its footprint across retail, SME, and corporate segments while contributing more significantly to Nigeria’s economic development.
With a strengthened balance sheet and renewed strategic focus, the bank reiterated its commitment to driving innovation, supporting businesses, and delivering long-term value to stakeholders.
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