President Bola Tinubu has showered praises on Wema Bank Plc for standing strong in the financial services industry in Nigeria at 80.
On Friday, May 2, 2025, the lender rolled out drums to celebrate its eight decades of existence, having been established in 1945 Agbonmagbe Bank Limited to pave the way for indigenous banking to thrive in Nigeria, challenging colonial monopoly of the banking industry to become a provider of financial services tailored to the needs of indigenous Nigerians and businesses.
In his message, Mr Tinubu commended Wema Bank for its unwavering resilience and technological innovations, which have set it apart among Nigeria’s banks.
“Over the last eight decades, the bank has focused on the vision of its founding fathers to support Nigerian businesses across all the key economic sectors with strategic business advisory and financial support, which are vital for sustainable growth,” he remarked.
Further commending the bank’s leadership for staying the course and steering the ship in the right direction, the President underscored the company’s 80 years of impact in the Nigerian financial services sector, expressing his confidence in the lender’s brighter future.
Also, the Governors of Ogun, Oyo, and Ondo States, Mr Dapo Abiodun, Mr Seyi Makind, and Mr Lucky Aitedatiwa, respectively, lauded the financial institution for remaining strong in the industry after 80 years.
In his remarks, the chief executive of Wema Bank, Mr Moruf Oseni, pledged the continued commitment of the firm to digital innovation, inclusive banking, and customer-focused service.
He thanked the government, as well as the bank’s partners, customers, shareholders, employees and other stakeholders, for their support and contributions to Wema Bank’s 80-year journey of transformation.
“Corporate longevity in Nigeria is not very common. Many banks, institutions and household names from the 1900s are no longer in existence, and now only live in our memories and industry folklore.
“Against this bleak backdrop, Wema Bank’s story shines. The fact that this great bank is even older than our beloved nation and is still thriving at 80, is a thing of pride and worthy of celebration,” he stated.
“Wema Bank is 80 years strong—and still driven by purpose, innovation and people. We have a big and bold vision for the bank.
“The most imminent milestone is our return to the top tier of banking in Nigeria, and as we look to the future of possibilities ahead, we will remain committed to the time-tested principles that have brought us this far—creativity, innovation and an incurable obsession with our customers,” Mr Oseni said.