N200bn Fund Raising: Invest in us for High Returns—Wema Bank

Speaking ahead of the planned raising of about N200 billion in the second quarter of this year, he boasted that Wema Bank has everything to put smiles on the faces of investors.

The lender intends to commence its rights issue and special placement for about N200 billion on April 1, 2025, to complete the recapitalisation requirement of the Central Bank of Nigeria (CBN).

Last year, in the first tranche, Wema Bank raised N40 billion, with the second phase expected to surpass the minimum capital base of the regulator.

“We stand strong today not just as Nigeria’s oldest indigenous bank but also as Nigeria’s leading innovative bank.

“Wema Bank turns 80 this year and I can safely tell you that we have never been more driven to excel. I am blessed to lead with the support of a team of determined and driven professionals who will leave no stone unturned in achieving our strategic aspirations.

“Indeed, we are building Wema Bank into a formidable force in the African financial services landscape.

“We remain dedicated to maintaining transparency throughout this process and will provide regular updates to all stakeholders and shareholders as we go forward.

“This capital raise will be a win-win for us all. You can trust as always that your investment in Wema Bank will produce exceeding returns. This is our promise to you,” Mr Oseni said.

With the deadline for CBN’s recapitalisation exercise set for March 31, 2026, this move by Wema Bank will undoubtedly ensure the bank retains its national banking license way ahead of the deadline

Reaffirming its stance as a bank committed to transparency and adherence to regulatory standards, Wema Bank is working to secure all necessary approvals from relevant regulatory authorities to ensure the process is conducted in full compliance with applicable guidelines.