By Ayomide Otitoju
Wema Bank Plc (Bloomberg: Wema NL) has announced the successful completion of its second-tranche ₦50 billion Special Placement, which was fully subscribed, bringing the bank’s total qualifying capital to ₦264.87 billion—well above the Central Bank of Nigeria’s (CBN) ₦200 billion minimum capital requirement for commercial banks with national authorization.
The latest capital raise follows the successful conclusion of the bank’s ₦150 billion Rights Issue in September 2025. With both tranches completed, Wema Bank has strengthened its capital base in line with its long-term growth and compliance strategy.
Commenting on the milestone, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, said the full subscription of the ₦50 billion Special Placement demonstrates strong investor confidence in the institution.
“We are delighted to have received all necessary regulatory approvals for our ₦50 billion Special Placement. This marks another significant step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustainable growth. We deeply appreciate the confidence and support of our shareholders, regulators, and customers,” Oseni said.
According to the bank, proceeds from the capital raise will be strategically deployed to accelerate its digital transformation, deepen market penetration across retail, SME, and corporate segments, and expand lending to key productive sectors of the Nigerian economy. The funds will also support ongoing investments in technology and human capital to improve operational efficiency and customer experience.
Wema Bank reaffirmed its commitment to delivering strong shareholder value, empowering customers through innovative financial solutions, and contributing to Nigeria’s broader goals of economic growth and financial inclusion.
