Tinubu salutes WEMA Bank’s 80-year legacy of innovation, endurance

President Bola Tinubu has extended warm congratulations to WEMA Bank as it marks its 80th anniversary on 2 May, acknowledging the institution’s remarkable staying power and contributions to Nigeria’s banking sector.

In a statement issued by presidential spokesperson Mr Bayo Onanuga on Thursday, the President praised the bank for its enduring resilience and trailblazing efforts in technological innovation, which have distinguished it among Nigerian financial institutions.

Founded on 2 May 1945 in Iperu-Remo, Ogun State, the bank began operations under the name Agbonmagbe Bank. It rebranded as WEMA Bank in 1969 and later achieved national banking status in 2015. It is now recognised as one of Nigeria’s prominent national banks.

President Tinubu commended the bank’s leadership for remaining true to its founding vision and for maintaining a steady course in a frequently challenging financial landscape.

“Over the last eight decades, the bank has focused on the vision of its founding fathers to support Nigerian businesses across all the key economic sectors with strategic business advisory and financial support, which are vital for sustainable growth,” the statement read.

He expressed optimism about WEMA Bank’s future prospects, especially within the framework of his administration’s Renewed Hope agenda. According to the President, the agenda has helped rebuild trust in Nigeria’s economy and financial system, creating a more promising outlook for institutions like WEMA Bank.