Wema Bank, Nigeria’s most innovative bank and pioneer of Africa first fully digital bank, ALAT, has officially marked its 80th anniversary on May 2nd, 2025, receiving national commendation for its trailblazing legacy as Nigeria’s oldest and longest surviving indigenous bank.
Established as Agbonmagbe Bank Limited in 1945, Wema Bank paved the way for indigenous banking to thrive in Nigeria, challenging colonial monopoly of the banking industry to become a provider of financial services tailored to the needs of indigenous Nigerians and businesses. 8 decades later, Wema Bank has not only metamorphosed into a leader in banking and innovation, but also remained unwavering in its commitment to empowering Nigerians with access to financial services. At 80 years, Wema Bank is proof that indigenous businesses can thrive in Nigeria.
Congratulating Wema Bank in a statement released on May 1, 2025, His Excellency, President Bola Ahmed Tinubu, the President of the Federal Republic of Nigeria, commended the Bank for its unwavering resilience and technological innovations, which have set it apart among Nigeria’s banks. “Over the last eight decades, the bank has focused on the vision of its founding fathers to support Nigerian businesses across all the key economic sectors with strategic business advisory and financial support, which are vital for sustainable growth”, he remarked.
Further commending the Bank’s leadership for staying the course and steering the ship in the right direction, the President underscored WEMA Bank’s 80 years of impact in the Nigerian financial services sector, expressing his confidence in the Bank’s brighter future.
Pledging continued commitment to digital innovation, inclusive banking, and customer-focused service, Moruf Oseni, Wema Bank’s MD/CEO, extended gratitude to the government, as well as the Bank’s partners, customers, shareholders, employees and other stakeholders, for their support and contributions to Wema Bank’s 80-year journey of transformation. According to him, “Corporate longevity in Nigeria is not very common. Many banks, institutions and household names from the 1900s are no longer in existence, and now only live in our memories and industry folklore. Against this bleak backdrop, Wema Bank’s story shines. The fact that this great bank is even older than our beloved nation and is still thriving at 80, is a thing of pride and worthy of celebration”.
“To our customers, new and old, thank you for trusting Wems Bank to steward your finances. To our shareholders, thank you for your steady faith and confidence in us. To employees past and present, your tenacity , diligence and commitment to execution has built this legacy , and I say a huge thank you for all you do. I thank the President for his foresight and unwavering commitment to the preservation of our legacy”.
“Wema Bank is 80 years strong—and still driven by purpose, innovation and people. We have a big and bold vision for Wema Bank. The most imminent milestone is our return to the top tier of banking in Nigeria, and as we look to the future of possibilities ahead, we will remain committed to the time-tested principles that have brought us this far—creativity, innovation and an incurable obsession with our customers”, Oseni said.
Other dignitaries further lauded Wema Bank in person at the 80th anniversary Gala which took place in Lagos, Nigeria, on May 2nd, 2025. Among these dignitaries were the Governor of Oyo State, Engr. Seyi Makinde, the Governor of Ogun State, Prince Dapo Abiodun and the Governor of Ondo State, Hon. Lucky Aiyedatiwa. Representatives of Vice President Kashim Shettima, as well as the First Lady, Senator Oluremi Tinubu, also conveyed the federal government’s appreciation for Wema Bank’s contributions to inclusion and economic development over the decades.
