Wema Bank has announced plans to raise N50 billion through a private placement, as part of its strategy to meet the N200 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks with national authorization.
The bank says its initial N150 billion Rights Issue window had ended on May 21st, 2025.
At its Annual General Meeting (AGM), held electronically on Thursday, May 22, 2025, the bank formally adopted a resolution to secure additional capital, reinforcing its commitment to meeting regulatory requirements while ensuring sustainable growth.