By JKNewsMedia
REGULATORY CAPITAL requirements set by the Central Bank of Nigeria (CBN) is reported to have been exceeded by Wema Bank of Nigeria (WBN) following the successful completion of its recapitalisation process, securing its status as a national bank.
JKNewsMedia.com reports that the bank, in a statement, confirmed it met and surpassed the threshold after completing a N150 billion Rights Issue and a N50 billion special placement in 2025, bringing its total qualifying capital to N264.7 billion.
This figure, it says, stands above the regulatory minimum and was achieved six months ahead of the deadline stipulated by the CBN.
Earlier in April 2026, the CBN had formally confirmed that WBN and 32 other financial institutions across international, national, and regional categories had concluded the recapitalisation exercise.
Also, the bank noted that it is among ten national banks that exceeded the minimum capital requirement and retained their national banking licences.
WBN also described the milestone as a reflection of its ability to meet regulatory expectations and execute a strategy focused on sustainable growth, balance sheet strengthening, and reinforcing its position in Nigeria’s banking sector.
Managing Director and Chief Executive Officer, Moruf Oseni, said, “The successful completion of our recapitalisation exercise is a defining moment for Wema Bank.
“It is a strong validation of our strategy, our performance, and the enduring confidence our shareholders and stakeholders have in our vision. We have not only met the CBN’s requirements; we have exceeded them, reinforcing our position as a National Bank with the scale, strength, and stability to compete and lead.”
The CBN had announced the recapitalisation programme in March 2024, requiring all national banks to maintain a minimum capital base of N200billion to strengthen resilience, enhance capacity to absorb economic shocks, and support sustainable economic growth.
But Wema Bank stated that it responded by raising capital through the stock market, securing participation from existing investors, adding that the N150 billion Rights Issue opened on April 14, 2025, and closed on May 21, 2025, followed by a N50 billion special placement later in the year.
The bank also linked the outcome to its financial discipline and strategic direction since regaining its national licence in 2015, noting that the capital raise was achieved largely through existing shareholders.
Oseni added, “This milestone strengthens our ability to compete at scale, deepen our market presence, and deliver more value to our customers across Nigeria through improved access to credit, enhanced digital banking experiences, and innovative financial solutions. It positions us to play an even bigger role in powering Nigeria’s economy while continuing to deliver sustainable value to all our stakeholders.
Looking ahead, we remain focused on deepening our market presence, driving customer-centric innovation, and strengthening our role as a catalyst for growth across retail, SME, and corporate segments. This is not just about retaining our license; it is about building a bigger, stronger, and more impactful Wema Bank.”
Oseni further stated that the completed recapitalisation asserts its financial strength, execution capacity, and commitment to regulatory compliance as it expands operations across Nigeria, and added that the strengthened capital base positions it to support more customers, enable more businesses, and expand opportunities across its segments while continuing to drive innovation through ALAT.
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