Wema Bank has surpassed the Central Bank of Nigeria's recapitalisation requirement, securing its national banking license with a total qualifying capital of ₦264.7 billion, well above the ₦200 billion threshold. The capital was raised through a ₦150 billion Rights Issue and a ₦50 billion special placement, both completed in 2025—six months ahead of the CBN's deadline. This achievement places Wema Bank among the few financial institutions that have not only met but exceeded the regulatory benchmark, reinforcing its position in Nigeria's banking sector. The bank's Managing Director and Chief Executive Officer, Moruf Oseni, stated that the successful exercise reflects strong investor confidence and validates the institution's long-term strategy. "This successful recapitalisation validates our strategy and the confidence our stakeholders have in our vision. We have not only met but exceeded the CBN's requirements," Oseni said. The strengthened capital base is expected to support Wema Bank's expansion, deepen market penetration, and advance innovation through its digital banking platform, ALAT. The bank reaffirmed its commitment to delivering customer-focused financial solutions and contributing to Nigeria's broader economic development goals. With the regulatory milestone achieved, Wema Bank is positioned to pursue aggressive growth initiatives within the national financial landscape.
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