Wema Bank Plc. has successfully completed its ₦50 billion private placement, achieving 100% subscription and securing all requisite regulatory approvals from the Central Bank of Nigeria (CBN) and other authorities, according to a statement released by the bank yesterday. This marks the second phase of the bank’s N200 billion Capital Raise Programme, following a ₦150 billion rights issue finalized in September 2025.
The private placement, which offered 4,545,454,545 ordinary shares at ₦11.00 each, was open from August 18 to August 29, 2025, and targeted select institutional and high-net-worth investors. Combined with the earlier rights issue, the bank’s total qualifying capital now stands at ₦264.87 billion, surpassing the CBN’s minimum requirement of ₦200 billion for commercial banks with national authorization.
Moruf Oseni, Managing Director and CEO of Wema Bank, emphasized the strategic significance of the capital raise. “This successful placement reinforces our commitment to strengthening Wema Bank’s financial foundation, enhancing liquidity, and positioning the bank to capitalize on growth opportunities,” Oseni stated. “We are grateful for the confidence shown by our investors and regulators as we advance our strategic objectives.”
The proceeds are earmarked to accelerate Wema Bank’s digitalization, expand lending to key sectors of the Nigerian economy, and deepen market penetration across retail, SME, and corporate segments. Investments in technology and human capital are also expected to drive operational efficiency and enhance service delivery.
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