• Wema Bank secures 150 billion naira ($100 million) through rights issue.
• Capital rises to 214.7 billion naira, above central bank’s 200 billion naira threshold.
• Bank strengthens ability to fund businesses, SMEs, and infrastructure projects.

Wema Bank, one of Nigeria’s oldest financial institutions, announced yesterday it has successfully completed a capital raise of 150 billion naira (about $100 million). The funds were secured through a rights issue that ran from April 14 to May 21, 2025, bringing the bank’s capital to 214.7 billion naira, above the 200 billion naira regulatory requirement set by the Central Bank of Nigeria.

“As a growth-driven Bank, the industry recapitalisation requirement came as a welcome mission, and we undertook it with full confidence,” said Moruf Oseni, Managing Director of Wema Bank. “Our success in surpassing the N200 billion benchmark ahead of the 2026 deadline not only reinforces our strong financial standing as a bank but also attests to the mutual trust and confidence that exists between Wema Bank and its shareholders.”

In addition to the rights issue, Wema Bank confirmed it had arranged a private placement of 50 billion naira, pending regulatory approval.

With its capital base reinforced, the bank is now better positioned to absorb economic shocks, finance large corporations, support small and medium enterprises, and back infrastructure projects, while continuing to drive its growth strategy.

Wema Bank, known as the first to launch a digital bank in Nigeria, joins Access Holdings, Zenith Bank, Stanbic IBTC, Lotus Bank, Jaiz Bank, Providus Bank, and Greenwich Merchant Bank among institutions that have already met the central bank’s recapitalization requirements ahead of the March 2026 deadline.