Nigeria’s oldest indigenous bank, Wema Bank, is set to mark a historic milestone as it celebrates its 80th anniversary on May 2, 2025. With just eight days to the landmark celebration, anticipation is building for what is expected to be a grand and star-studded event in Lagos — the city where its journey began.
Founded on May 2, 1945, as Agbonmagbe Bank Limited by the late Chief Matthew Adekoya Okupe, alongside his wife Regina Adekoya Okupe and Reverend Alade, the bank was established in a period when banking in Nigeria was dominated by colonial institutions. Its emergence signaled a bold new era in indigenous financial services — designed to cater to Nigerians often excluded from colonial-era banking systems.
From its humble beginnings in a modest room at Agbonmagbe Lodge in Yaba, Lagos, Wema Bank has evolved into a formidable force in Nigeria’s financial landscape. Not only is it the country’s longest-standing indigenous bank, but it has also carved a niche as its most innovative, thanks to groundbreaking initiatives such as ALAT — Africa’s first fully digital bank.
“Wema Bank’s journey is a testament to resilience, reinvention, and the enduring spirit of Nigerian enterprise,” said a statement from the bank. “For 80 years, we have remained committed to empowering Nigerians with inclusive financial services, pioneering digital banking, and supporting national economic growth.”
Throughout its eight decades, Wema Bank has not only withstood economic shifts and regulatory reforms, but has also championed financial inclusion, supported underserved communities, and helped fuel Nigeria’s thriving fintech ecosystem. By providing a secure digital infrastructure that enables emerging tech firms to thrive, the bank has positioned itself as a backbone of innovation in the industry.
As the clock ticks down to May 2, details of the anniversary celebrations remain under wraps. However, sources close to the planning reveal that “Wema @ 80” promises to be the most exclusive corporate celebration of the year. Themed Timeless Elegance, the event is expected to draw notable figures from across generations of Nigerian society in an evening of reflection, celebration, and visionary discourse.
To learn more about the event and Wema Bank’s enduring legacy, visit www.wemabank.com/Wemaat80 or follow @wemabank on social media.
