Wema at 80: FG, Governors Hail Bank’s Legacy of Innovation, Resilience, and Economic Impact
As Wema Bank marked its historic 80th anniversary on May 2, 2025, the Federal Government and several state governors have lauded the institution for its unmatched resilience, groundbreaking innovation, and sustained impact on Nigeria’s financial and economic landscape.
Founded in 1945 as Agbonmagbe Bank Limited, Wema Bank holds the distinction of being Nigeria’s oldest surviving indigenous bank. From its humble beginnings as a disruptor of colonial banking dominance, Wema has evolved into a pacesetter in digital banking through platforms like ALAT, Africa’s first fully digital bank.
In a goodwill message released ahead of the milestone, President Bola Ahmed Tinubu praised the bank’s leadership and commitment to empowering Nigerian businesses across critical sectors. “Wema Bank’s journey over eight decades has been defined by vision, resilience, and innovation. It has remained focused on supporting local enterprise, delivering financial services tailored to the Nigerian reality,” the President said.
The President further described Wema’s continued relevance as a symbol of what indigenous enterprises can achieve despite the odds, expressing optimism for the bank’s future in Nigeria’s evolving financial ecosystem.
In his anniversary address, Wema Bank MD/CEO, Moruf Oseni, paid tribute to the bank’s stakeholders—government, customers, shareholders, and employees—highlighting that the bank’s 80-year journey was built on creativity, customer obsession, and innovation. “Corporate longevity in Nigeria is not very common… Wema Bank’s story shines. The fact that this bank is even older than Nigeria and still thriving at 80 is a thing of pride,” he remarked.
Oseni reaffirmed the bank’s commitment to regaining its place among Nigeria’s top-tier banks, driven by its people-first approach and bold digital transformation strategy. “Wema Bank is 80 years strong—and still driven by purpose, innovation and people,” he said.
The anniversary gala in Lagos was graced by several dignitaries, including Governor Seyi Makinde of Oyo State, Governor Dapo Abiodun of Ogun State, and Governor Lucky Aiyedatiwa of Ondo State. Official representatives of Vice President Kashim Shettima and First Lady Senator Oluremi Tinubu also conveyed the federal government’s appreciation for Wema Bank’s enduring contributions to financial inclusion, economic growth, and national development.
As the bank looks ahead, Wema is reaffirming its mission to deliver cutting-edge, inclusive financial services and to remain a pillar in Nigeria’s economic evolution.
