Wema Bank has launched the fifth season of its popular “5 for 5” Reward Scheme, introducing new benefits and incentives aimed at encouraging digital banking and rewarding loyal customers across Nigeria.
The new campaign, tagged Evolve with Wema 5for5, will run from May to December 2026 and comes with a reward pool worth more than ₦170 million. According to the bank, the initiative is designed to support financial inclusion while motivating customers to make greater use of digital banking platforms.
The bank explained that this year’s edition has been redesigned to make the reward process more transparent and activity-based. Customers will now qualify for rewards based on how actively they use their accounts and banking channels.
Under the youth and student category, beneficiaries stand a chance to receive tuition support, laptops, pocket money, and a major “Star Student” reward. The bank said the programme is intended to encourage young Nigerians to build healthy financial habits while enjoying educational support.
Women customers are also expected to benefit through empowerment grants, wellness packages, and special recognition awards targeted at female entrepreneurs and business owners. The initiative seeks to support women-led businesses and improve financial participation among women.
For customers in the mass market category, the bank announced daily cash rewards, monthly incentives, and a grand prize of ₦5 million for the most consistent participant throughout the campaign period.
Speaking during the launch, the Managing Director and Chief Executive Officer of Moruf Oseni said the reward programme reflects the bank’s commitment to customer empowerment, fairness, and digital banking growth.
He stated that customers can qualify for the rewards by regularly funding their accounts and carrying out transactions through the bank’s digital channels, including ALAT, *945# banking, and Wema Bank debit cards.
According to him, the new structure was carefully designed to encourage positive banking habits while ensuring that all rewards are earned through genuine financial activities.
Oseni explained that customers in the youth segment must fund their accounts with at least ₦5,000 and complete a minimum of five transactions monthly to qualify for pocket money rewards. Customers with higher account activity levels may also qualify for tuition support, gadgets, and the Star Student prize.
For women customers, funding accounts with at least ₦5,000 and carrying out five transactions monthly qualifies them for wellness rewards under the “SelfCare” package. Customers who fund from ₦50,000 and complete at least 25 transactions can become eligible for the “SupportHerHustle” grants, while highly active participants may receive the “SaraDiva Impact Award.”
In the mass market category, customers who fund their accounts with ₦5,000 and complete five transactions can access daily rewards. Those maintaining ₦20,000 funding levels alongside 15 monthly transactions may qualify for larger monthly rewards, while the overall most active participant will receive the ₦5 million grand prize.
The bank also revealed that since the launch of the 5 for 5 Reward Scheme in 2019, over 7,000 customers across Nigeria have received more than ₦300 million in cash rewards and other incentives.
