Wema Bank Plc has announced the successful completion of a ₦50 billion special placement, marking the second tranche of its capital-raising programme and pushing its total qualifying capital to ₦264.87 billion.
With this development, the bank has comfortably surpassed the Central Bank of Nigeria’s (CBN) ₦200 billion minimum capital requirement for commercial banks with national authorisation.
The latest injection follows the conclusion of Wema Bank’s ₦150 billion Rights Issue in September 2025, reflecting strong investor confidence in the institution’s performance, governance, and long-term growth strategy.
In a statement, the Managing Director and Chief Executive Officer of Wema Bank, Mr Moruf Oseni, described the successful offer as a defining milestone in the bank’s ongoing capital management journey.
“We are delighted to have received all necessary regulatory approvals for our ₦50 billion special placement,” Oseni said. “This marks another significant step in strengthening Wema Bank’s capital base, enhancing liquidity, and positioning the institution to seize new growth opportunities. We deeply appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our strategic agenda.”
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The bank will channel the proceeds from the capital raise into accelerating digital transformation, deepening market penetration across retail, SME, and corporate segments, and expanding lending capacity to productive sectors of the economy.
The completion of the special placement signals Wema Bank’s proactive response to the CBN’s recapitalisation directive, not only meeting the new capital threshold but creating a comfortable buffer to weather future economic headwinds.
With its fortified balance sheet, Wema Bank says it remains committed to delivering superior shareholder value while advancing Nigeria’s financial inclusion goals and contributing to national economic development.
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