Wema Bank Plc has announced that it has received all requisite regulatory approvals for its ₦50bn Private Placement capital raise.
This is in addition to the earlier ₦150bn Rights Issue that was completed in September 2025.
The Bank now has a total of ₦264.87bn in qualifying capital, above the minimum requirement of 200bn for a Commercial Bank with National Authorisation.
According to the bank, the development marks another significant milestone in the execution of the Bank’s capital management programme aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.
Speaking on the development, Managing Director/Chief Executive Officer of Wema Bank, Mr Moruf Oseni, stated the bank is delighted to have received all necessary regulatory approvals for its ₦50bn 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.
“We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda,” he said.
He noted that the proceeds from the capital raise will be deployed to continue the acceleration of Wema Bank’s digital transformation drive, deepen penetration across retail, SME, and corporate segments, and enhance the Bank’s lending capacity to key productive sectors of the Nigerian economy.
“It will also support ongoing investments in technology and human capital development, further strengthening operational efficiency and service excellence,” he said.
