Banking and Finance
Wema Bank Meets Central Bank of Nigeria’s Recapitalisation; Retains National Banking License
Wema Bank, Nigeria’s oldest indigenous national bank and pioneer of Africa’s first fully digital bank, ALAT, has successfully met and surpassed the Central Bank of Nigeria’s (CBN) recapitalisation requirements, reaffirming its status as a National bank. This achievement represents a critical milestone in the Bank’s growth journey, reflecting its ability to meet regulatory expectations and its deliberate strategy to scale sustainably, strengthen its balance sheet, and reinforce its position within Nigeria’s banking sector.
The milestone follows the Bank’s successful completion of a ₦150 billion Rights Issue and an additional ₦50 billion special placement in 2025, bringing its Total Qualifying Capital to ₦264.7 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 Central Bank of Nigeria 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 milestone 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.
Commenting on the milestone, the Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, stated, “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 ₦200 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 ₦150 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 ₦50 billion special placement later in the year, ensuring the Bank not only met but exceeded the regulatory threshold well ahead of schedule.
For Wema Bank, this journey is a testament to its transformation. After regaining its national license in 2015, the Bank has consistently demonstrated financial discipline and strategic foresight. By raising the necessary capital primarily from existing shareholders, the Bank has underscored a deep-seated mutual trust between the institution and its investors.
Speaking further on what this achievement means for the Bank’s future and its customers, Oseni added: “This milestone strengthens our ability to compete at scale, deepen our market presence, and deliver more value to our customers across Nigeria through improved access to credit, enhanced digital banking experiences, and innovative financial solutions. It positions us to play an even bigger role in powering Nigeria’s economy while continuing to deliver sustainable value to all our stakeholders.
Looking ahead, we remain focused on deepening our market presence, driving customer-centric innovation, and strengthening our role as a catalyst for growth across retail, SME, and corporate segments. This is not just about retaining our license; it is about building a bigger, stronger, and more impactful Wema Bank.”
The successful conclusion of the recapitalisation process underscores Wema Bank’s financial strength, disciplined execution, and unwavering commitment to regulatory compliance as it continues to expand its footprint across Nigeria. With a significantly strengthened capital base, the Bank is now positioned to do more – support more customers, enable more businesses, and unlock more opportunities across every segment it serves.
As it enters this new phase, Wema Bank is not only reaffirming its status as a National Bank; it is stepping forward with greater scale, sharper ambition, and a clear intent to lead. The Bank remains firmly committed to powering progress, driving innovation through ALAT, and delivering sustained value; powering a future of possibilities for all its stakeholders.
-Latest
Fidelity Bank Empowers Plateau Schoolchildren with School Packs Donation
In a significant demonstration of its commitment to the development of education and community empowerment, Fidelity Bank Plc has donated back-to-school packs to school pupils in Plateau State.The intervention, which took place in Jos, saw over 600 randomly selected pupils drawn from all 17 Local Government Areas of the state benefit from the bank’s Corporate Social Responsibility (CSR) initiative. Each pupil received a school bag containing exercise books, writing materials, a mathematical set, and a water bottle, in a gesture designed to support their learning journey and encourage academic excellence.The initiative was facilitated by staff of Fidelity Bank’s University of Jos Branch, reflecting the bank’s culture of giving back to the communities it serves through the Fidelity Helping Hands Programme (FHHP), a key feature of the bank’s CSR strategy. Through the programme, staff identify impactful community projects and raise funds to support them, while the bank’s management matches their contributions to expand the reach and impact of each intervention.Speaking at the event, Dr. Meksley Nwagboh, Divisional Head, Brand and Communications, Fidelity Bank Plc, said the initiative underscores the bank’s unwavering commitment to education as a catalyst for national development. “Investing in young people is one of the most impactful ways to build a brighter future, as education equips children with the knowledge, confidence, and opportunities needed to contribute meaningfully to society.Nwagboh further stated that the intervention reflects Fidelity Bank’s broader commitment to social impact and sustainable community development through initiatives that improve lives and create long-term value. He emphasized that the Bank remains dedicated to empowering future generations through education-focused programs and encouraged the pupils to remain diligent in their studies, reminding them that their aspirations are valid and that the future of Nigeria rests in the hands of well-educated, determined, and inspired young people.Also speaking at the presentation event, Shunom Leo, Branch Leader, Fidelity Bank, University of Jos Branch, whose team championed the intervention, said the initiative reflects the bank’s dedication to nurturing future leaders.“This is more than a donation of school items. It is a deliberate investment in the future of Plateau State and in the promise these children represent. Across Nigeria, Fidelity Bank has remained committed to projects that improve lives, support education and strengthen communities,” Leo said.Representing Governor Caleb Mutfwang, the Plateau State Governor, the Commissioner for Women Affairs and Social Development, Ms. Caroline Dafur, commended Fidelity Bank and Plateau State Sustainable Development Goals (SDGs) office for what she described as a timely and meaningful investment in children.“Let me sincerely appreciate Fidelity Bank and the Plateau State SDGs office for organizing this memorable ‘back-to-school’ campaign. This gesture of distributing school bags and learning equipment to our pupils is more than charity; it is an investment in the future of Plateau children,” Dafur said.She further reaffirmed the Plateau State Government’s commitment to prioritizing education, healthcare, social protection, and the overall wellbeing of children, while calling for increased collaborations to ensure sustained development.In her opening remarks, Mrs. Nanbam Danjuma-Lot, Project Coordinator of the Plateau State SDGs, applauded Fidelity Bank for partnering with the agency to positively impact the lives of children across the state, stating that, “Partnerships such as this demonstrate the power of collaboration in addressing societal challenges. Fidelity Bank has shown commendable leadership by investing in the future of our children, and we hope more organizations will follow this example by contributing meaningfully to their host communities.”Similarly, Mr. Sunday Amuna, Executive Secretary of the Plateau State Universal Basic Education Board (SUBEB), described the intervention as a foundation-laying initiative that would have long-term benefits for the beneficiaries.”The strength and durability of any structure depend largely on its foundation, the foundation we give these children today will determine the stability of their future. Fidelity Bank has made a meaningful contribution to that foundation and we commend the bank for this impactful intervention,” he said.Notably, the donation also benefited physically challenged children with varying degrees of disability, reinforcing Fidelity Bank’s commitment to inclusion and equal opportunities for all.Through initiatives such as the FHHP, Fidelity Bank continues to demonstrate its commitment to empowering communities, supporting education and contributing to sustainable development across Nigeria.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.Photo caption:L-R: Mrs. Nanbam Danjuma-Lot, Project Coordinator of the Plateau State Sustainable Development Goals (SDGs); Mr. Shunom Leo, Branch Leader, Fidelity Bank University of Jos Branch; Ms. Caroline Dafur, Plateau State Commissioner for Women Affairs and Social Development; Hon. Sunday Amuna, Executive Chairman, Plateau State Universal Basic Education Board (SUBEB); Mr. Saje Joseph, Director of Planning, Research, and Statistics, Plateau State Ministry of Education; and Mrs. Victoria Abuka, Team Lead, Corporate Social Responsibility, Fidelity Bank Plc; at the Fidelity Helping Hands Programme (FHHP) Back-to-School outreach in Plateau State recently.
Banking and Finance
Fidelity Bank Empowers Exporters to Unlock AfCFTA Opportunities with EMP 19
Photo caption:L-R: Relationship Manager, Fidelity Bank Plc, Murtala Muhammed Road Branch, Kano, Victor Ngwu; Export Management Programme (EMP 19) participant, Abayomi Adewuyi; Facilitator, Gemma Ejiofor; Senior Fellow and Head, Department of Organisational Behaviour and Human Resources Mgt., Lagos Business School (LBS), Dr. Uche Attoh; Director, Export Management Programme, LBS, Prof. Frank Ojadi; and Team Lead, Export & Agriculture, Fidelity Bank Plc, Emmanuel Nwalor, during the closing ceremony of the 19th edition of the Fidelity Bank Export Management Programme (EMP 19) held recently at Lagos Business School, Lagos.
Fidelity Bank Plc has reaffirmed its commitment to supporting Nigeria’s economic diversification agenda through capacity building and export development, as it hosted the 19th edition of its Export Management Programme (EMP) at the Lagos Business School (LBS), Ajah, Lagos recently.Tagged EMP 19, the programme is an intense hands-on export management workshop, organized as a partnership between Fidelity Bank, Lagos Business School and Nigerian Export Promotion Council, brought together entrepreneurs, professionals, regulators and aspiring exporters for intensive training designed to equip participants with the knowledge, skills and networks required to compete successfully in international markets.Speaking at the closing ceremony, Divisional Head, Export and Agriculture, Fidelity Bank Plc, Isaiah Ndukwe, said the bank remains focused on empowering Nigerian businesses to leverage emerging opportunities under the African Continental Free Trade Area (AfCFTA) and expand the country’s non-oil export base.”At Fidelity Bank, we recognize that capacity building is critical to unlocking Nigeria’s export potential. Through the Export Management Programme, we are equipping businesses with practical knowledge, market intelligence and strategic insights required to compete successfully in regional and global markets,” Ndukwe said.“As AfCFTA continues to open new frontiers for trade across Africa, our goal is to ensure that Nigerian exporters are adequately prepared to seize these opportunities and contribute meaningfully to the country’s economic diversification agenda,” he added.Nwalor further noted that the bank remains committed to providing exporters with the financial solutions, advisory support and strategic partnerships necessary to expand their businesses beyond Nigeria’s borders.Also speaking, Director of the Export Management Programme at Lagos Business School, Professor Frank Ojadi, highlighted the need for continuous capacity development as international trade continues to evolve.”The export market is always evolving. There are changes in policies, improvements in processes and increasing interest from businesses. These developments make it necessary to build the capabilities of our people to compete effectively in export markets,” Ojadi said.According to him, this year’s programme placed significant emphasis on AfCFTA, exposing participants to both the fundamentals and practical aspects of leveraging the continental trade agreement for business growth.”Many businesses are still learning how to take advantage of AfCFTA. Through this programme, participants gained practical insights that will help them navigate opportunities across African markets and beyond,” he added.In his remarks, Senior Fellow and Head of the Department of Organisational Behaviour and Human Resources Management at Lagos Business School, Dr. Uche Attoh, emphasized the importance of negotiation and dispute resolution skills in international trade.”It is negotiation that enables businesses to establish deals, while arbitration helps resolve disputes when they arise. Once participants understand the principles, they can apply them in any business environment, whether in Africa, Europe or America,” Attoh said.Participants described the programme as impactful and transformative. Assistant Director at the Nigerian Shippers’ Council, Obinna Oforum, said the training strengthened his resolve to become an “export champion”.Similarly, Chief Superintendent of Customs, Orji Samuel, praised Fidelity Bank and Lagos Business School for subsidizing the programme and creating an enabling platform for practical learning, noting that the knowledge gained would help participants navigate export challenges and unlock new business opportunities.The Export Management Programme is Fidelity Bank’s flagship capacity-building initiative aimed at developing export-ready businesses and professionals capable of driving Nigeria’s non-oil export growth. Through strategic partnerships and targeted interventions, the Bank continues to play a leading role in supporting businesses, facilitating trade and creating pathways for sustainable economic development.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.
Banking and Finance
Fidelity Bank Partners Anambra State to Empower 1,950 Nigerians
Mrs. Pamela Shodipo, Executive Director, South, Fidelity Bank Plc (2nd L); Mrs. Amaka Onwughalu, Chairman, Board of Directors, Fidelity Bank Plc (4th L); Dr. Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc (6th L); and Dr (Mrs.) Nonye Soludo, First Lady of Anambra State (2nd R), with the beneficiaries at the Fidelity Bank Empowerment Programme organized in partnership with Healthy Living with Nonye Soludo Foundation, held in Awka, Anambra State recently.
Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to sustainable social impact and economic inclusion through the empowerment of women and schoolchildren in Anambra State.
The landmark intervention, held recently in Awka during the 2026 Fidelity Empowerment Programme, featured the distribution of 200 sewing and grinding machines to women entrepreneurs, N25 million in seed capital support, 1,500 food packs to vulnerable households, and 250 solar-powered school bags to schoolchildren. The initiative was implemented in partnership with Healthy Living with Nonye Soludo, a Non-Governmental Organisation led by the Wife of the Governor of Anambra State, Dr. Mrs. Nonye Soludo.
Speaking at the event, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, described the programme as a reflection of the Bank’s enduring commitment to empowering individuals, strengthening communities, and creating opportunities for sustainable growth.
According to the bank’s CEO, the initiative marked the first time that three of Fidelity Bank’s flagship social impact initiatives—the Fidelity Food Bank Initiative, Lighting Young Minds Programme, and Give Her Power Initiative—were brought together under a single intervention platform; and Anambra State is the first beneficiary.
“Today is more than an empowerment event; it is a demonstration of our belief that meaningful progress begins when people are given the tools and opportunities to succeed. At Fidelity Bank, our purpose goes beyond banking. We are committed to helping individuals realize their aspirations, overcome challenges, and build better lives. When communities thrive, businesses thrive; when families prosper, societies become stronger; and when people are empowered, possibilities become endless,” she stated.
Dr. Onyeali-Ikpe further noted that the Fidelity Food Bank Initiative continues to provide critical support to vulnerable households across Nigeria, particularly during a period of economic challenges affecting many families.
“Access to food remains a basic human need. By supporting vulnerable families, we are restoring dignity, strengthening resilience, and fostering greater social inclusion within our communities,” she added.
Speaking on the Lighting Young Minds Programme, Dr. Onyeali-Ikpe explained that the solar-powered school bags distributed to pupils are designed to enhance learning outcomes by providing a reliable source of light for studying after dark, especially in communities with limited access to electricity.
The programme also featured the Give Her Power Initiative, through which women received vocational tools and financial support aimed at promoting entrepreneurship, enhancing household income, and advancing women’s economic participation.
In her remarks, the Wife of the Governor of Anambra State, Dr (Mrs.) Nonye Soludo, commended Fidelity Bank for its unwavering commitment to uplifting vulnerable groups and investing in community development.
“We gather today, not merely to distribute items or celebrate another social impact initiative, but to reaffirm a simple truth: when we invest in people, we invest in the future. Every woman supported, every child empowered, and every family assisted represents a step towards building a stronger, healthier, and more prosperous Anambra State,” she said.
Mrs. Soludo expressed appreciation to Fidelity Bank for aligning with the vision of empowering communities and improving lives through impactful interventions.
“Beyond the empowerment items being distributed today, Fidelity Bank is investing in human potential, family stability, and community development. This partnership demonstrates the important role socially responsible organisations can play in advancing sustainable development and improving the quality of life of the people they serve,” she added.
The Fidelity Empowerment Programme forms part of Fidelity Bank’s broader commitment to driving positive social impact across Nigeria through targeted interventions in education, economic empowerment, food security, health, and community development.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.
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