Adewole lipede biography

• Set to raise additional N200 billion in combination of Rights & Special Placement to complete CBN recapitalization requirement.

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200 billion in fresh capital.

This would mark the second and final tranche of the Bank’s capital raise exercise, supplementing the N40 billion raised in the first tranche, and ensuring the Bank surpasses the CBN minimum requirement for national banking authorization.

In its usual manner as a proactive, innovative and forward-thinking bank, Wema Bank, had prior to the CBN announcement, already launched a N40 billion rights issue as far back as December 2023, receiving the approval o