Wema Bank Plc has completed the second tranche of its N50 billion Special Placement, which was fully subscribed, further strengthening its capital position above the Central Bank of Nigeria’s (CBN) minimum requirements.
The bank announced this in a statement on Friday, confirming that the successful offer brings its total qualifying capital to N264.87 billion—exceeding the N200 billion threshold set for commercial banks with national authorization.
The new funds follow Wema Bank’s N150 billion Rights Issue concluded in September 2025, forming part of a structured capital management program designed to reinforce liquidity and fund expansion.
Managing Director and CEO, Moruf Oseni, said the completion of the placement marks another milestone in the bank’s growth plan. “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,” Oseni stated.
Proceeds from the placement will be channelled into digital transformation, SME and corporate lending, and continued investments in technology and human capital development to enhance efficiency and service quality.
By completing the exercise ahead of schedule, Wema Bank has fully met the March 2026 recapitalization deadline, positioning itself ahead of peers still in the process of meeting the CBN’s requirement.
In its half-year 2025 results, the bank posted a pre-tax profit of N100.5 billion, a 229% increase year-on-year, with total assets rising to N3.9 trillion and retained earnings reaching N169.3 billion.
Wema Bank’s stock has gained over 106% year-to-date, driven by strong investor confidence and consistent performance.
