Wema Bank Completes ₦50bn Capital Raise, Exceeds CBN Requirement with ₦264bn Qualifying Capital

Wema Bank Completes ₦50bn Capital Raise, Exceeds CBN Requirement with ₦264bn Qualifying Capital

Wema Bank Plc has successfully concluded the second tranche of its capital raise programme, securing ₦50 billion through a fully subscribed special placement. With this latest injection, the bank’s total qualifying capital now stands at ₦264.87 billion—surpassing the Central Bank of Nigeria’s (CBN) ₦200 billion minimum requirement for commercial banks with national authorization.

This follows the earlier completion of a ₦150 billion Rights Issue in September 2025, marking another significant milestone in Wema Bank’s capital management strategy aimed at strengthening its balance sheet, enhancing liquidity, and positioning the bank for sustainable growth.

Speaking on the development, the Managing Director/Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, described the achievement as a major boost to the bank’s strategic growth plans.

“We are delighted to have received all necessary regulatory approvals for our ₦50 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 said.

According to the bank, proceeds from the capital raise will be deployed to accelerate its digital transformation drive, deepen market penetration across retail, SME, and corporate segments, and expand its lending capacity to key sectors of the Nigerian economy. The funds will also support ongoing investments in technology and human capital development to improve operational efficiency and service delivery.

With this achievement, Wema Bank has further reinforced its financial resilience and commitment to meeting regulatory standards while advancing its mission to deliver superior value to shareholders, empower customers through innovative financial solutions, and contribute to national economic growth and financial inclusion.