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Wema Bank PLC has unveiled a significant capital raising initiative, launching a N150 billion Rights Issue as part of its strategy to meet the Central Bank of Nigeria’s (CBN) recapitalisation mandate. The offer commenced on April 14, 2025, and underscores the bank’s commitment to long-term resilience, digital transformation, and regulatory alignment.
Through the Rights Issue, Wema Bank is offering 14.29 billion ordinary shares of 50 kobo each, priced at N10.45 per share, on the basis of two new shares for every three held as of the qualification date, March 5, 2025. The move marks a pivotal step in the bank’s ambition to achieve the status of a Systemically Important Bank (SIB) within Nigeria’s financial ecosystem.
The capital injection will significantly enhance Wema Bank’s capacity to scale its lending portfolio across key sectors, including SMEs, retail, commercial, and corporate banking, reinforcing its role in supporting Nigeria’s broader economic development and financial inclusion goals.
A substantial portion of the raised capital will also be deployed toward strengthening Wema’s digital infrastructure, particularly its award-winning digital banking platform, ALAT. The bank aims to boost compliance automation, increase cybersecurity resilience, and upgrade core banking systems to meet evolving regulatory compliance requirements and ensure seamless digital service delivery.
In light of rising regulatory expectations, the capital raise positions Wema Bank to advance its compliance management systems, expand RegTech adoption, and deliver efficient, technology-enabled services that are fully aligned with Nigeria’s growing digital economy.
Wema Bank’s Board emphasized that this initiative not only supports capital adequacy but also signals the bank’s strategic direction toward innovation, transparency, and governance risk and compliance (GRC) excellence. Shareholders are strongly encouraged to participate in the Rights Issue and align with the bank’s long-term risk mitigation and growth strategy.
As Nigeria’s financial services industry undergoes regulatory reforms and digital transformation, Wema Bank’s proactive approach reflects its preparedness to thrive in a more compliance-driven, competitive environment.
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