Wema Bank Completes N50 Billion Capital Raise, Secures Regulatory Approvals

Wema Bank Plc, a leading Nigerian financial institution, has successfully completed the second tranche of its N50 billion capital raise through a fully subscribed private placement. This achievement follows the earlier conclusion of a N150 billion Rights Issue in September, bringing the bank's total qualifying capital to N264.87 billion. The capital raise exceeds the Central Bank of Nigeria's (CBN) minimum capital requirement of N200 billion for commercial banks with national authorisation. The bank's Managing Director and Chief Executive Officer, Mr Moruf Oseni, described the development as a major milestone in its ongoing capital management programme, aimed at strengthening the bank's balance sheet, enhancing liquidity, and ensuring compliance with the CBN's revised capital requirements while supporting future growth and expansion plans.

Key Takeaways:

• Wema Bank completed the second tranche of its N50 billion capital raise through a fully subscribed private placement, bringing the bank's total qualifying capital to N264.87 billion.
• The capital raise exceeds the CBN's minimum capital requirement of N200 billion for commercial banks with national authorisation.
• The bank's Managing Director and Chief Executive Officer, Mr Moruf Oseni, described the development as a major milestone in its ongoing capital management programme.
• The proceeds from the capital raise will be used to accelerate Wema Bank's digital transformation drive, expand its retail, SME and corporate banking segments, and boost lending to key productive sectors of the Nigerian economy.
• The bank reaffirmed its commitment to delivering superior value to shareholders, empowering customers through innovative financial solutions, and contributing to Nigeria's economic growth and financial inclusion objectives.

Statistics:

• N264.87 billion: Total qualifying capital of Wema Bank after the completion of the N50 billion capital raise and N150 billion Rights Issue.
• N200 billion: Minimum capital requirement for commercial banks with national authorisation as set by the CBN.
• 100%: The level of subscription for the N50 billion private placement.
• N50 billion: Amount raised through the private placement.
• N150 billion: Amount raised through the Rights Issue.
• September: Month in which the N150 billion Rights Issue was concluded.

Sources:

• News Agency of Nigeria (2025, October 17) Wema Bank Completes N50 Billion Capital Raise. News Agency of Nigeria.