Wema Bank Plc has received all requisite regulatory approvals for its N50 billion private placement capital raise.

The bank said this is in addition to the earlier N150 billion rights issue that was successfully completed in September 2025.

The bank now has a total of N264.87 billion in qualifying capital, above the minimum requirement of N200 billion for a commercial bank with national authorisation.

This development marked another significant milestone in the execution of the bank’s capital management programme aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.

Speaking on the development, Managing Director/Chief Executive Officer of the bank, Moruf Oseni stated: “We are delighted to have received all necessary regulatory approvals for our N50 billion special placement. This marks another major step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustained growth.

“We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”

According to the bank, the proceeds from the capital raise will be deployed to continue the acceleration of Wema Bank’s digital transformation drive, deepen penetration across retail, SME, and corporate segments, and enhance the bank’s lending capacity to key productive sectors of the Nigerian economy.

It will also support ongoing investments in technology, and human capital development, further strengthening operational efficiency and service excellence.

Wema Bank remained steadfast in its mission to deliver superior value to shareholders, empower customers through innovative financial solutions, and contribute meaningfully to Nigeria’s economic growth and financial inclusion objectives.