Central Bank, Securities Exchange Approve Wema Bank’s N150bn Rights Issue

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) person approved Wema Bank Plc’s N150 cardinal rights issue.

The slope concluded its Rights Issue connected May 21st,2025, having opened the Issue connected April 14th,2025.

This Rights Issue was undertaken successful effect to the CBN’s directive connected the recapitalisation of banks successful the country. With the palmy completion and regulatory approval, Wema Bank has present met the N200 cardinal minimum superior request applicable to commercialized banks with nationalist authorisation.

In summation to the Rights Issue, Wema Bank besides precocious concluded a N50 cardinal Private Placement, which is present awaiting regulatory reviews, adjacent arsenic this further superior raises the bank’s full superior basal supra the regulatory threshold, further strengthening its buffer, enhancing its shock-absorption capacity, and positioning the Bank for sustained growth.

Commenting connected the bank’s occurrence successful gathering the regulatory threshold up of the 24-month timeline, Wema Bank’s MD/CEO, Moruf Oseni, reaffirmed its committedness of delivering the champion worth arsenic it continues its maturation journey.

Oseni said, “As a growth-driven bank, the manufacture recapitalisation request came arsenic a invited mission, and we undertook it with implicit confidence. Our occurrence successful surpassing the N200 cardinal benchmark up of the 2026 deadline not lone reinforces our beardown fiscal lasting arsenic a slope but besides attests to the communal spot and assurance that exists between

“Wema Bank and its shareholders. We bash not instrumentality this spot for granted, and we instrumentality this infinitesimal to firmly reiterate our committedness to proceed delivering optimum worth to each shareholder and stakeholder of Wema Bank.”

He stressed that the decision of these capital-raising initiatives reinforces the bank’s prudential presumption and provides a coagulated instauration for semipermanent stability. It besides reflects the continued assurance of stakeholders successful Wema Bank’s governance, fiscal performance, and strategical direction.