Wema Bank has exceeded CBN Recapitalisation Requirement and secured national license.
NewsOnline Nigeria reports that Wema Bank has surpassed the recapitalisation requirements set by the Central Bank of Nigeria, reinforcing its status as a national bank and positioning itself for accelerated growth.
The bank disclosed that it raised a total qualifying capital of ₦264.7 billion, exceeding the ₦200 billion regulatory threshold. This was achieved through a ₦150 billion Rights Issue and a ₦50 billion special placement completed in 2025, six months ahead of the CBN’s deadline.
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With this milestone, Wema Bank joins a select group of national banks that have met or surpassed the minimum capital requirement, securing its national banking license and strengthening its foothold in Nigeria’s competitive financial sector.
Commenting on the development, the bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the achievement reflects strong investor confidence and validates the bank’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,” he stated.
The enhanced capital base is expected to support Wema Bank’s expansion plans, deepen its market presence, and drive innovation, particularly through its digital banking platform, ALAT.
The bank reiterated its commitment to delivering customer-focused financial solutions while contributing to Nigeria’s broader economic development agenda.
