Wema Bank Plc has celebrated its 80th anniversary with a strong message of commitment to innovation, inclusive banking, and customer satisfaction. The Managing Director and Chief Executive Officer of the bank, Moruf Oseni, made this known during the bank’s anniversary gala held in Lagos with the theme “Timeless Elegance.”
Moruf Oseni described the 80-year milestone as a celebration of resilience, innovation, and progress. He said the bank, which started in 1945 as Agbonmagbe Bank, has grown to become one of Nigeria’s most innovative financial institutions. According to him, Wema Bank’s focus on technology and purpose-driven banking has kept it relevant in Nigeria’s changing financial environment.
He noted that the launch of ALAT, Nigeria’s first fully digital bank, was a major turning point that positioned Wema Bank as a leader in digital banking across Africa. Oseni added that the bank’s mission remains to provide value to customers through smart and flexible solutions. “Wema Bank is 80 years strong—and still driven by purpose, innovation, and people. Our legacy is one of trust, and the future holds even more promise,” he said.
Chairman of the Board of Directors, Oluwayemisi Olorunshola, also spoke at the event and reflected on the bank’s journey over the years. She restated Wema Bank’s focus on empowering Nigerians, especially women. She spoke about “SARA by Wema,” a women-focused banking initiative that has reached over 400,000 unbanked women across Nigeria. According to her, the programme has disbursed N75 billion in low-interest loans and helped to create over 900 jobs.
Olorunshola said her own rise in the banking sector was a clear example of what women can achieve when they are given the right support. “My journey is a testimony to what’s possible when women are empowered. Wema Bank is walking the talk in championing gender inclusion,” she said.
The event attracted several top government officials and dignitaries, including the Governor of Oyo State, Seyi Makinde; the Governor of Ogun State, Dapo Abiodun; and the Governor of Ondo State, Lucky Aiyedatiwa. They all praised Wema Bank for its long-standing contribution to Nigeria’s economic development.
Governor Makinde commended the bank’s efforts to embrace technology and maintain trust over the years. He described Wema Bank as a shining example of what Nigerian institutions can achieve with vision and consistency. “Wema Bank’s journey over the past eight decades shows what can be achieved with vision and consistency,” Makinde said.
Wema Bank’s commitment to excellence in the financial sector was recently recognised by the Chartered Institute of Bankers of Nigeria (CIBN), which awarded Moruf Oseni with its highest honour. The bank also recently launched a N150 billion rights issue to strengthen its capital base as part of its recapitalisation drive.
From its humble beginnings in 1945, Wema Bank has grown into a strong brand with digital innovations and community-focused initiatives. With its continued investment in technology and inclusive banking, the bank is positioning itself for a future where more Nigerians can access financial services and participate in economic growth.
