Wema Bank Clears Recapitalisation Hurdle As Capital Base Hits N264.8bn

After completing its second tranche of N50 billion capital raise, Wema Bank Plc now has N264.87 billion in total capital, which is above the minimum requirement of N200 billion for a Commercial Bank with National Authorisation.

The bank disclosed this on Thursday and noted that it had received all requisite regulatory approvals for its N50 billion Private Placement capital raise, in addition to the earlier N150 billion Rights Issue that was successfully completed in September 2025.

This development, the bank said, marked another significant milestone in the execution of its capital management programme aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.
Speaking on the development, Wema Bank’s managing director/chief executive officer, Moruf Oseni said,

“We are delighted to have received all necessary regulatory approvals for our N50 billion special placement. 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. We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”

He stated that 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.

As it is said, it will also support ongoing investments in technology and human capital development, further strengthening operational efficiency and service excellence.

Wema Bank, the pioneer of Africa’s first fully digital bank, ALAT, offers its customers a range of retail, SME, corporate, treasury, trade, and financial advisory services. Wema Bank operates with a National Banking licence and has a network of over 160 branches and service centres across Nigeria, backed by a robust ICT platform.