By Ayomide Otitoju
Wema Bank has met and exceeded the recapitalisation requirements set by the Central Bank of Nigeria, reaffirming its status as a national bank and strengthening its position within Nigeria’s financial sector.
The bank announced that it achieved the milestone following the successful completion of a ₦150 billion Rights Issue and a ₦50 billion special placement in 2025, raising its total qualifying capital to ₦264.7 billion—well above the regulatory minimum. The exercise was concluded six months ahead of the CBN’s deadline, underscoring the institution’s financial strength and investor confidence.
Earlier in April 2026, the apex bank confirmed that Wema Bank, alongside 32 other financial institutions across various licensing categories, had completed the recapitalisation process. The bank is among only ten national lenders that surpassed the required capital threshold, thereby retaining their national banking licences.
The recapitalisation follows a March 2024 directive by the Central Bank mandating national banks to maintain a minimum capital base of ₦200 billion as part of efforts to enhance the resilience of the banking sector and support economic growth.
Commenting on the development, Managing Director and Chief Executive Officer, Moruf Oseni, described the achievement as a defining moment for the bank, noting that it validates its strategic direction and the confidence of shareholders.
He said the strengthened capital base would enable the bank to expand its market presence, improve access to credit, and deliver enhanced digital and financial services to customers across Nigeria.
Wema Bank’s recapitalisation drive was largely supported by existing shareholders, reflecting sustained investor trust. The ₦150 billion Rights Issue, which ran from April to May 2025, was complemented by the ₦50 billion special placement later in the year.
The development marks a significant step in the bank’s transformation journey since regaining its national licence in 2015. With a stronger balance sheet, Wema Bank said it is positioned to scale operations, support more businesses, and deepen its impact across retail, SME, and corporate segments.
The bank added that it remains focused on driving innovation through its digital platform, ALAT, while sustaining growth and delivering long-term value to stakeholders.
