Wema Bank meets recapitalisation requirements, retains national licence

Wema Bank has met the Central Bank of Nigeria’s (CBN) recapitalisation requirements, reaffirming its status as a national bank.

This follows the bank’s successful completion of a N150 billion Rights Issue and an additional N50 billion special placement in 2025, bringing its total qualifying capital to N264.7 billion, well above the regulatory minimum. This achievement was concluded six months ahead of the CBN’s stipulated deadline, further reinforcing the bank’s strong financial position, shareholder confidence, and long-term growth trajectory.

Earlier in April 2026, the CBN also formally confirmed that Wema Bank, alongside 32 other financial institutions across international, national, and regional categories, had successfully concluded the recapitalisation process. Notably, Wema stands among only ten national banks that met and surpassed the minimum required capital threshold, thereby sustaining its national banking license.

This not only affirms regulatory compliance but also signals a new phase of accelerated growth for the bank; one defined by stronger capital base, increased capacity to support customers, and a reinforced position within Nigeria’s competitive banking landscape.

Moruf Oseni, managing director/CEO of Wema Bank, commenting on the feat, 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.”

In March 2024, the Central Bank of Nigeria announced the recapitalisation programme requiring all national banks to maintain a minimum capital base of N200 billion. The initiative was designed to strengthen the resilience of financial institutions, enhance their capacity to absorb economic shocks, and position them to drive sustainable economic growth.

In response, Wema Bank embarked on a strategic capital raise through the stock market, successfully strengthening its shareholder base and securing the required capital through strong participation from existing investors. The N150 billion Rights Issue, which opened on April 14, 2025, and closed on May 21, 2025, marked a significant step in this journey. This was subsequently complemented by a N50 billion special placement later in the year, ensuring the bank not only met but exceeded the regulatory threshold well ahead of schedule.