Wema Bank Exceeds CBN Recapitalisation Target, Retains National Licence With N264.7bn Capital

Wema Bank Plc said it had surpassed the Central Bank of Nigeria’s recapitalisation requirement, reaffirming its status as a national bank.

The milestone follows the Bank’s successful completion of a N150 billion rights issue and an additional N50 billion special placement in 2025, bringing its total qualifying capital to N264.7 billion, well above the regulatory minimum.

The bank said its recapitalisation was concluded six months ahead of the CBN’s stipulated deadline.

Earlier in April 2026, the Central Bank of Nigeria also formally confirmed that Wema Bank, alongside 32 other financial institutions across international, national, and regional categories, had successfully concluded the recapitalisation process. Notably, Wema stands among only ten national banks that met and surpassed the minimum required capital threshold, thereby sustaining its national banking license.

Speaking, the managing director/chief executive officer of Wema Bank, Moruf Oseni, stated, “the successful completion of our recapitalisation exercise is a defining moment for Wema Bank. I We have not only met the CBN’s requirements; we have exceeded them, reinforcing our position as a National Bank.”

Oseni added, “this milestone strengthens our ability to compete at scale, deepen our market presence, and deliver more value to our customers across Nigeria through improved access to credit, enhanced digital banking experiences, and innovative financial solutions.

“It positions us to play an even bigger role in powering Nigeria’s economy while continuing to deliver sustainable value to all our stakeholders. Looking ahead, we remain focused on deepening our market presence, driving customer-centric innovation, and strengthening our role as a catalyst for growth across retail, SME, and corporate segments.

This is not just about retaining our license; it is about building a bigger, stronger, and more impactful Wema Bank.”

With a significantly strengthened capital base, the Bank is now positioned to do more – support more customers, enable more businesses, and unlock more opportunities across every segment it serves.