Wema Bank says it has processed more than ₦18 trillion in transactions across its digital platforms over the past 12 months, highlighting the growing role of partnerships between banks and financial technology firms in Nigeria’s expanding digital payments ecosystem.
The bank disclosed the figure during a stakeholder engagement in Lagos attended by fintech founders, payment service providers and technology partners, where discussions centred on strengthening collaboration to drive innovation and financial inclusion.
Speaking at the event, Wema Bank’s Deputy Managing Director, Oluwole Ajimisinmi, said the bank remains committed to providing the digital infrastructure fintech companies need to scale their operations.
“Our partners are not just customers; they are collaborators in building the future of financial services,” he said.
According to Ajimisinmi, Wema Bank continues to invest in solutions such as virtual accounts, payment application programming interfaces (APIs) and other digital banking tools that help fintech firms automate collections, process disbursements and monitor transactions in real time.
The announcement reflects the continued growth of electronic payments in Nigeria, supported by increasing smartphone adoption, wider internet access and ongoing efforts by the Central Bank of Nigeria (CBN) to deepen financial inclusion and promote a more interoperable payments ecosystem.
Wema Bank has increasingly positioned itself as a technology-enabled financial institution through ALAT, Nigeria’s first fully digital bank, launched in 2017. Since its introduction, the platform has expanded the bank’s digital offerings for retail customers while supporting broader digital banking initiatives.
Ajimisinmi said the bank will continue investing in technology, cybersecurity and talent development to strengthen its digital infrastructure and support the evolving needs of fintech partners.
Industry collaboration between banks and fintech companies has become increasingly important as demand for faster, more secure and seamless digital payment services continues to grow across Africa’s largest economy.
While Wema Bank did not provide a breakdown of the ₦18 trillion transaction value by product or customer segment, the disclosure underscores the scale of activity on its digital platforms and reflects the increasing adoption of electronic payment channels by businesses and consumers.
