Wema Bank Plc has successfully met and exceeded the Central Bank of Nigeria’s (CBN) recapitalisation requirement, securing its national banking licence ahead of the regulatory deadline.
According to BusinessDay, the bank achieved a Total Qualifying Capital of approximately N264.7 billion, surpassing the N200 billion minimum capital requirement set by the CBN for national commercial banks.
The development confirms the bank’s compliance with the CBN’s ongoing banking sector recapitalisation exercise, which aims to strengthen financial stability, improve risk management capacity, and enhance the resilience of Nigerian banks.
Wema Bank reportedly completed its capital-raising exercise through a combination of a N150 billion rights issue and additional investor-backed funding initiatives, which were strongly supported by shareholders and institutional investors.
The bank’s Managing Director/CEO, Moruf Oseni, described the achievement as a validation of Wema Bank’s strategic direction, noting that it reinforces its position as a stable and growth-driven financial institution within Nigeria’s competitive banking landscape.
With this milestone, Wema Bank joins other Nigerian financial institutions that have successfully met the new regulatory capital benchmarks introduced by the CBN ahead of the 2026 compliance deadline.
Industry analysts say the recapitalisation exercise is expected to reposition Nigeria’s banking sector for stronger lending capacity, improved financial inclusion, and greater economic support.