Wema Bank Plc has denied reports suggesting it has suspended its ongoing capital raising exercise, reassuring shareholders and the investing public that its N150 billion capital restructuring program remains on track and fully operational.
In a regulatory disclosure filed with the Nigerian Exchange (NGX) on Tuesday, May 19, 2026, the bank cleared the air regarding speculative reports that claimed its management had halted the capitalization process due to regulatory hurdles or market hitches.
The Bank’s management described the publications as completely false, misleading, and malicious, emphasizing that all phases of its capital optimization strategy are progressing smoothly in strict alignment with Central Bank of Nigeria (CBN) directives.
“Our attention has been drawn to certain misleading media reports circulating in the public domain which allege a suspension of our capital raise program.”
“We wish to state unequivocally that Wema Bank has not suspended its capital raise. The process is fully ongoing, and the bank remains committed to executing its capital mobilization strategy to achieve the new regulatory thresholds,” the statement read.
According to the Bank, the first phase of its capitalization project, a N40 billion Rights Issue has already secured all necessary regulatory approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria.
The Bank noted that the allotment process is currently in its final stages and will be formally concluded in due course.
Wema Bank explained that the capital raise is part of a broader, phased N150 billion capital injection scheme designed to strengthen its balance sheet, support aggressive retail expansion, drive digital banking innovation via its ALAT platform, and absorb future macroeconomic shocks.
It further clarified that it maintains a transparent relationship with all financial sector regulators and has complied with every required corporate governance and disclosure metric.
The Bank noted that its current financial indicators, including liquidity ratios and capital adequacy, remain robust and well above the statutory minimums.
While urging investors and stakeholders to ignore the speculative reports, Wema Bank advised the public to rely only on official corporate disclosures issued through the Nigerian Exchange or verified media channels for authentic information regarding its operations.
The Bank also reaffirmed its commitment to delivering sustainable value to its shareholders and supporting Nigeria’s economic growth through structured MSME financing and resilient banking services.