Wema Bank Plc has successfully concluded the second and final phase of its significant capital-raising programme, reinforcing its financial strength with the official listing of an additional 4.55 billion ordinary shares on the Nigerian Exchange Limited (NGX). This listing, following a fully subscribed N50 billion private placement, solidifies the bank’s capital position, placing it well above the minimum regulatory requirements set by the Central Bank of Nigeria (CBN).
The new shares were formally listed on Tuesday, November 4, 2025, bringing the bank’s total issued and fully paid-up share capital to over 40 billion shares.
This successful N50 billion placement, combined with an earlier N150 billion Rights Issue completed in September, has brought Wema Bank’s total qualifying capital to an impressive N264.87 billion. This figure comfortably surpasses the N200 billion minimum capital threshold mandated by the CBN for commercial banks with national authorisation, achieving compliance well ahead of the March 2026 deadline.
The bank’s Managing Director and Chief Executive Officer, Mr Moruf Oseni, described the achievement as a strategic success built on investor confidence and forward planning. “We are delighted to have received all necessary regulatory approvals for our N50 billion special placement,” Mr Oseni stated. “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.”
The prompt and effective capital raise has profound implications for both Wema Bank and the broader Nigerian economy.
The N264 billion capital base significantly enhances the bank’s ability to withstand economic shocks, increases its lending capacity, and boosts investor confidence. This is critical for the national economy, as stronger banks are better equipped to finance large-scale projects and support key productive sectors, such as manufacturing, agriculture, and technology, which are essential for driving Nigeria’s economic diversification.
Mr Oseni further detailed the bank’s planned use of the proceeds, emphasising a commitment to digital expansion. “The proceeds from this 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,” he confirmed.
This focus on digital banking, particularly through its innovative digital platform, ALAT, positions Wema Bank to champion financial inclusion across the country, especially in underserved regions. The funds will also support ongoing investments in technology and human capital development, ensuring the bank can deliver cutting-edge service and operational efficiency.
By moving decisively to exceed the regulatory benchmark months ahead of schedule, Wema Bank has effectively de-risked its capital position, earning additional goodwill in the market. Its share price performance has reflected this positive sentiment, showcasing a strong year-to-date gain, cementing the bank’s image as a resilient and strategically sound financial institution in a rapidly evolving and demanding Nigerian financial sector.
