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Tag: Wema Bank

News

Wema Bank obtain regulatory approval for N40bn rights issue

Wema Bank has obtained regulatory permission for the allotment of its N40 billion rights offering, which began in December 2023. This marks the completion of the first tranche of its recapitalisation exercise, which began before the Central Bank of Nigeria urged banks in the country to broaden their capital base. This was disclosed in a […]

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
News

Wema Bank threatens lawsuit over licence revocation claims

Wema Bank has said that it will file a lawsuit in response to rumours that the Central Bank of Nigeria is about to revoke its banking license. This was disclosed in a statement by the Head of Brands and Marketing Communications, Mabel Adeteye, on Tuesday. Adeteye underlined that its success in the previous years and […]

News

Wema Bank gets shareholders approval to raise N200bn

The shareholders of Wema Bank Plc, have approved the bank’s request for a capital increase of N200 billion. Also, the shareholders approved the dividend of 50 kobo per share for the financial year ended December 31, 2023, recommended by the Management Board, according to Nairametrics. This was disclosed at the group’s annual general meeting (AGM) […]

News

Wema Bank to retain national bank status – CEO

The Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, has said that the bank would retain its national licence while aiming for tier-1 banking status after the fresh banking sector recapitalisation. This was disclosed by Oseni at the Annual General Meeting of the bank, held virtually on Tuesday, according to The Punch. Oseni highlighted […]

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
News

Wema bank tightens security after losing N658m to fraud

Wema Bank boasting of ₦1.8 trillion ($1.6 billion) in consumer deposits has disclosed ₦685 million ($594,943) in fraud and forgery losses for the year 2023, shedding light on the pervasive issue of fraud within Nigeria’s financial sector. According to a spokesperson for Wema Bank interviewed by TechCabal, these losses encompassed incidents across their digital platforms […]

Banking

UBA, Stanbic, two other banks fail to file 2023 results

Four banks have disclosed that they will delay the filing of their audited results for 2023. The United Bank for Africa, Zenith Bank, Stanbic IBTC, and Wema Bank had announced that they would not meet the deadline for the filing of their audited results for the last financial year. The listed companies are expected to […]

Wema Bank, NYSC collaborate on youth empowerment
News

Wema Bank, NYSC collaborate on youth empowerment

The National Youth Service Corps and Wema Bank have teamed up to introduce the NYSC-ALAT Accelerator Program. According to The PUNCH, the relationship was unveiled at the signing ceremony for the Memorandum of Understanding in Abuja as the bank revealed in a statement. It stated that the partnership’s goal was to make it possible for […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema Bank awards N8m to 116 customers

Wema Bank’s 5 for 5 Promo Season 3 saw 116 clients win almost N8 million in prizes at the sixth monthly draw. The PUNCH reported that the company said in a statement that more than 70 people attended the live draw, which took place recently at the bank’s Oba Adesida branch in Akure, Ondo State. It […]

Wema Bank, NYSC collaborate on youth empowerment
Business

Wema Bank, Assembly Hub partner to train business owners

Sara by Wema and Assembly Hub have partnered together on their business accelerator program, “The Creative Class,” which aims to empower and upskill aspiring business owners in Africa’s thriving fashion sector. According to The Punch, a statement from Wema Bank revealed that the intensive 4-week accelerator program was created to give budding and established entrepreneurs, aged 21 […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema partners Wakanow to revolutionize digital banking, travel booking

Wema Bank and the first digital bank, ALAT, have teamed with Africa’s leading travel technology business, Wakanow, to integrate digital banking and smooth airline bookings through the ALAT platform, The Punch reported that part of the statement read, “This ground-breaking partnership aims to revolutionize banking and financial services in Nigeria by providing Nigerians with a simple […]

Wema Bank launches Hackaholics digital summit
Banking

Wema Bank launches Hackaholics digital summit

Wema Bank has announced the establishment of the Hackaholics Digital Summit, which will bring together Africa’s digital innovators, disruptors, regulators, policymakers, investors, and customers. The Punch reported that the summit will act as a hub for exchanging knowledge, ideas, and best practices in the tech sector in order to positively transform technology and innovation not only […]

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