Wema Bank Plc has completed its N150 billion Rights Issue, which opened on 14 April 2025 and closed on 21 May 2025, securing formal approval from both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
The Rights Issue was undertaken in response to the CBN’s recapitalisation directive for banks operating in Nigeria. With its conclusion and regulatory clearance, Wema Bank has now met the N200 billion minimum capital requirement set for commercial banks with national authorisation.
Alongside the Rights Issue, the bank also recently wrapped up a N50 billion Private Placement, which is currently awaiting regulatory review. This additional capital raises Wema Bank’s total base above the statutory threshold, further reinforcing its financial buffer, improving its capacity to withstand shocks, and positioning the institution for sustained growth.
Commenting on the milestone, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the achievement demonstrates the bank’s resilience and forward-looking strategy.
“As a growth-driven bank, the industry recapitalisation requirement came as a welcome mission, and we undertook it with full confidence. Surpassing the N200 billion benchmark ahead of the 2026 deadline not only reaffirms our strong financial standing but also reflects the mutual trust and confidence that exists between Wema Bank and its shareholders. We do not take this trust for granted, and we reiterate our commitment to delivering optimum value to every shareholder and stakeholder of Wema Bank,” Oseni said.
The bank stressed that the successful capital-raising exercise underscores its prudential discipline, strengthens its long-term stability, and demonstrates stakeholders’ continued confidence in its governance, financial performance, and strategic direction.
With a fortified capital base, Wema Bank reaffirmed its commitment to regulatory compliance, prudent risk management, and sustainable growth, while pledging to support customers and contribute to the resilience of Nigeria’s financial system.