In a remarkable celebration of heritage and innov ation, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT today announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

According to the MD/CEO Wema Bank, Mr. Moruf Oseni, the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

“At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.”

“As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights.”

“While the past 79 years have been remarkable, we anticipate that the coming decades will be even more inspiring. With the partnership of our customers and employees, Wema Bank is poised to set new standards in financial services and redefine the future.” He concluded.

As part of the anniversary celebrations, Wema Bank and ALAT are rolling out a series of customer-focused activities designed to reward loyalty and enhance the customer experience. Throughout the anniversary month, customers will enjoy various promotions, including discounts on transactions, cash prizes, special loan offers and much more.

This anniversary is more than a celebration; it’s a reaffirmation of Wema Bank’s resilience and ongoing commitment to innovation and customer satisfaction in a competitive industry. Both Wema Bank and ALAT are poised for further growth, with strategic initiatives designed to enhance customer-centric services and expand the reach yearsw capability of digital banking solutions.

By: Oladapo Sofowora

Barrister Tokunbo Phillip Wahab is a man who is not swayed by frivolous things or sentiments. He is not like other public servants who are in it for personal gain. His foray into politics is to make a difference because of his upright nature. Those who know him describe him as fearless, unperturbed, and unbothered by anything. As a lawyer, he was outspoken, coherent, distinct, articulate, elegant, and highly cerebral. He knows the legal profession like the back of his hand and can cross-examine in the court with ease. He would have attained the highest legal title in the land as a Senior Advocate of Nigeria if he continued practising. However, he chose to put his knowledge into public service, and he has not regretted it since.

Tokunbo’s style is distinct, and he is a stickler for success. He believes that things should be done the right way to achieve great results. As Special Adviser to Governor Babajide Sanwoolu on Education, he spearheaded the biggest turnaround in the educational sector in Lagos. He revamped the educational template of Lagos to meet global standards, upgraded colleges of education, and polytechnics to universities, and ensured teachers were dishing out quality education inline with the THEMES agenda. He monitored and ensured quality delivery in the education sector, and his strides in that sector have been unmatched since he left to serve in another capacity. Despite the global pandemic that took students out of class for a long time, Wahab ensured that the educational calendar in Lagos was not tampered with, displaying Lagos status as the true Centre of excellence. He ensured the calendar was followed to the core, as there was no break in transmission like other states witnessed. With all his giant strides, Governor Sanwoolu immediately redeployed him to his new role as the Commissioner of Environment and Water Resources during the beginning of his second tenure.

When he was sworn in as a Commissioner; it didn’t take him less than a week to settle in and read the riot act to workers in the ministry and also erring Lagosians who are in the habit of polluting Lagos through waste, air, noise, and encroached builders on areas reserved as green areas or those blocking the drainage channel for easy movement of rain water. He displayed his negotiating ability by inviting all critical stakeholders for dialogue while he also highlighted the importance of removing contravening buildings stopping water flow into the canal to ensure Lagos is not flooded during the rainy season. He also rejigged the once moribund Lagos Waste Management Authority (LAWMA) and Kick Against Indiscipline (KAI), which are now charged with the responsibility of enforcing complaints written by many on the issues of indiscipline, and the Lagos Environment Protection Authority has been on their toes receiving petitions and carrying out enforcement.

To make the work easy, he ensured the running of open-door policing and also opened his lines and other channels of communication for speedy action. On several occasions, he has received complaints on social media and acted on them at the speed of light, which has earned him the commendation of many. While his approach has restored the confidence of people in government agencies functioning optimally, Tokunbo is not relenting in his quest to restore more sanity to Lagos so it can be an eco-friendly and habitable haven for all in line with the United Nations Environment Organization terms. Non compliance Hotels, religious houses, entertainment hubs have been locked due to one infraction or the other in other to restore sanity within the Lagos Metropolis.

While Tokunbo is doing his job, many won’t know that back door discharging his duties is a Herculean task. Many elites have complained to the authorities about his no-bending style, but Tokunbo has said that he will do everything within his power to ensure things are done according to the law and also in due process without minding whose ox is gored. Some allegedly top political stakeholders were culpable when he was demolishing houses that encroached on drainage setbacks, but Tokunbo didn’t mind their emotional blackmail and campaign of calumny on the media instead of him to slow down he intensified his effort. He has always said posterity will judge him for doing the right thing and everyone will thank and appreciate the Governor Sanwo-olu led government for the job they are doing when the result becomes more evident. While many have resorted to sponsoring media campaigns to soil the name he has built, he has identified them as cheap blackmail and will not in any way deter him from doing the right thing.

For Tokunbo, at his current level he is not particular about wealth, he has accomplished virtually everything he wants at a relatively young age, but politics for him is an avenue to give back to his immediate society. Despite his standing order to do the right thing, on a lighter note, the Epe born generous money bag is a fun and compassionate person. Those who have been with him can disclose the fact that he is a man who loathes the sight of another man in distress; he is always ready to assist. Despite trying hard to stay out of the media cynosure for the good things he does, his name has continued to remain a recurring decimal in the media for philanthropy and also cheerful giving and service to humanity. In his personal capacity; he has sponsored plenty children to school at all levels, he has sponsored free health checkup and operation for many people, he has constantly provided edible items to the downtrodden and constantly doles largess to many who are on his payroll. Tokunbo believes he has made a name for himself, but one thing remaining is to cement a long-lasting legacy that the generation unborn will admire and applaud.

As the popular parlance says, the reward of a job well done is more job. Wahab is not resting on his oars anything soon until he achieves his main goal of restoring sanity to achieving a better Lagos rising like the morning sun. He believes there is nowhere like home, putting Lagos on the pedestal of other developed cities across the world. To achieve that, it will require deviating from the norm and that what he is currently championing.

OLADAPO SOFOWORA

A Chinese Philosopher, Lao Tzu said in one of his popular quotes; “The journey of a thousand miles begins with a step”, this has become the truism since the swearing-in of Dr Doris Uzoka-Anite as Nigeria’s Minister for Industry, Trade and Investment by President Bola Ahmed Tinubu last year. Dr. Uzoka-Anite immediately hit the ground running in her quest to further put Nigeria on the map as an investment destination of choice for foreign and local investors by also igniting seamless trade activities with policies to drive the ease of doing business in Nigeria and expunging all possible bottlenecks affecting trade activities.

With much gusto and seriousness, She has achieved a remarkable turnaround with just barely a year in charge of the ministry with impeccable deliverables that have sparked the economy to a blistering and boisterous level. As an avid team player, owning to her background as commissioner for Finance in Imo State and a seasoned banker with Zenith Bank, she maintained a purposeful symbiotic relationship and collaboration with the staff of the ministry by creating an atmosphere that is purpose-driven and also result-oriented in line with President Tinubu’s mandate of reviving the economy through trade, job creation and expunging all bottlenecks mitigating against the growth of the nation’s trade and investment sector. When she came into office; she understudies all modes of operation while she also spoke to the staff on the need to key into her vision and mission in line with President Tinubu’s 8-Point Agenda where Trade, Industry and Investment play a pivotal role in its actualization. She started with the supervision and management of multilateral trade and investment negotiations that will help attract Foreign Direct Investment (FDI) into the country to help create employment and also ensure more forex inflow with the establishment of a Trade Intelligence Unit in synergy with the Federal Ministry of Communications, Innovation, and Digital Economy, the Nigerian Customs Services, the Federal Ministry of Marine and Blue Economy, the Federal Ministry of Aviation and Aerospace and the Central Bank of Nigeria. The TIU is providing all trade-related data and information in Nigeria by integrating big data and artificial intelligence. The Unit will use accumulated information to predict local and global economic trends, which will help Nigerian traders with invaluable insights to navigate potential global economic shocks and provide strategic guidance to enhance Nigeria’s economic growth.

With her unwavering passion, she is helping Nigeria transit from the over-reliance on revenue from Oil and Gas to other sources of income through trade of other commodities via the export of finished products, talent export and a host of others. Dr. Uzoka-Anite has also initiated several plans to grow Nigeria’s economy via food production, processing and agricultural industrialization, food export business and improvement in the farming sector; enhancing self-sufficiency in feeding the nation with what it grows and also reducing the burden of importation of food and beverages, saving Nigeria billions of dollars annually.

While attending the G20 Summit in New Delhi, India last year, the Honorable Minister fostered a strategic partnership between Nigeria and India thereby strengthening the age-long trade relationship between both countries which saw the actualization of Nigeria’s quest to improve its technological strength and also understudy policies which saw Indian government elevate a vast majority of its population from the poverty line.

Uzoka-Anite has studied the need for a total overhaul, upgrade and change in the mentality of Nigeria to ensure purchasing power with less liquidity as it is done in developed economies across the world. She developed the much-talked-about Consumer Credit system. The goal is to increase consumer credit uptake to enable a sustainable credit system in line with global best practices and enhance supporting infrastructure to boost credit facilitation. Funds have been earmarked from the 2024 Appropriation bill to begin the process of establishing a viable Consumer Credit system for Nigeria.

Uzoka-Anite created another policy and framework that will further set the country on the path of greatness with the Nigerian Trade Facilitation Committee’s relaunch to enhance the efficiency of Trade Facilitation and Liberalization. She strategically designed the merger of the TFL with the already existing Nigerian Trade Facilitation Committee (NTFC) to be streamlined and relaunched as the NTFC. The relaunch of NTFC will be nimbler and more strategic in achieving the overall objective of improving trade facilitation in Nigeria.
While still being applauded for this initiative; She integrated the Presidential Grant, Loan Scheme and Palliative Programme targeted to provide financial assistance to individuals and businesses due to the biting and dwindling economy. The Bank of Industry (BOI) has been charged with the administration and effective deployment of these funds, under the
auspices of the Ministry which is currently being disbursed and Nigerians in their large numbers have thanked the administration for the funds.

To increase the chances of Artisans and the informal sector service providers in Nigeria; Uzoka-Anite disclosed that it is necessary to ensure Artisans are given the required certification which will not only avail them the opportunity in Nigeria it will also open doors of opportunity for talent exchange programmes with countries Nigeria is in partnership with. She berthed the idea of licensing and certification of Artisans under the Skill-UP Artisans (SUPA) initiative with the Industrial Training Funds ITF to improve artisan skills through licensing and certification to meet industry standards, boosting quality and consumer trust with the aim of 10 Million job creation, overall economic growth and talent export opportunities under the National Talent Exchange Programme (NATEP) which she launched in New York, United States of America alongside the Nigeria Export Promotion Council (NEPC) during the 78th edition of the United Nations General Assembly (UNGA) in New York.

To fetch more revenue and development into the country, she has paid rapt attention to the Oil and Gas Free Zones Authority (OGFZA) strategic stakeholder engagement with high-level players in the Oil $ Gas sector. The initiative has enabled the realization of infrastructural development, job creation and foreign exchange inflows with secured investment commitments from APM Terminals, amounting to $112 million for a state-of-the-art facility and an additional $500 million over the next four years. This commitment is projected to create employment for 900,000 skilled and unskilled workers in Nigeria. The Minister also commissioned an in-depth review of the Free Trade Zones in Nigeria, to identify areas of improvement by considering the incentives applicable, the applicable Laws and proposed policy reforms required to stimulate and catalyze the economic benefits of the Free Trade Zones and the Special Economic Zones for the benefit of local and foreign investors. She also charged the Corporate Affairs Commission to open a window for the registration of 2 million businesses to help revive the economy which will result in the creation of approximately 50 million jobs. This ongoing scheme will ensure financial inclusion, poverty alleviation, and economic empowerment which will help encourage the export of commodities to attract forex into the economy. She moved for the establishment of the Nigerian Export Promotion Council (NEPC) Connect service unit of the Nigerian Export Promotion Council that is responsible for promoting non-oil export in Nigeria, the Council is charged with the strategic mandate to engage and connect exporters with solutions to their export challenges. The Unit is bridging the gap between the Council and non-oil exporters.

Knowing and acknowledging the commitment of diasporas to the economy, Uzoka Anite has also advocated for their inclusion in policymaking and also wooed them to ensure constant remittance that will help stimulate the growth of the Nigerian economy. To help achieve her plans, she created a Diaspora Fund scheme that will help increase forex inflow, leverage diaspora expertise and technology, and eliminate trade barriers to attract foreign investments. She also designed and developed the establishment of a Diaspora Fund which seeks to harness the skills and resources of the Nigerian diaspora for national advancement to unlock the economic potential of the Nigerian diasporas, fostering a conducive business environment and contributing to the country in collaboration with the Nigeria Diaspora Commission (NiDCOM).

To ensure industrialization in the country, she received a commitment from investors to Establish a State-Of-The-Art Lead Battery Recycling Plant by Til Group and Oztugrul. The investment plays a pivotal role in various industries, including automotive, telecommunications, and renewable energy. However, the proper disposal and recycling of lead batteries are crucial for environmental sustainability and public health.

To further strengthen partnerships with other countries to show that Nigeria is serious about opening its arm for more investment; Uzoka-Anite showed her negotiating power by leveraging on already established relationships by building new ones. She has attended Bilateral engagements that will in the long run be beneficial to Nigeria. Her Participation in the Commonwealth Trade and Investment Summit 2023 reiterates Nigeria’s commitment to encourage and expand trade with Her commonwealth partners and dismantle all barriers to trade and investments through substantial reforms. This platform also provided an opportunity for a productive bilateral meeting with the Secretary of State for the Department of Business and Trade – Honourable Kemi Badenoch, which accelerated concrete negotiations on the conclusion and execution of the Enhanced Trade in Partnership between both Nations. The Establishment of a Saudi – Nigeria Business Council, Proposed establishment of Abu Dhabi – Nigeria Economic Council, Proposed establishment of an Emirati – Nigeria Business Council, Advanced Stages of Partnership Discussions on Talent – Export Program with Germany, Preliminary Stages of Partnership Discussions on a Talent – Export Program with UAE, Revitalization of the Joint Ministerial Advisory Council on Industry, Trade and Investment (JMACITI), Technical Partnership with Bosch and the German Association of Automotive Industry and a host of others in the pipeline will favour Nigeria and help put us on a high pedestal as a nation fast developing through strategic partnership and massive industrialization.

To show solidarity with local manufacturers and stakeholders; Uzoka-Anite kick-started 2024 with a factory tour to identify and seek to address challenges facing local manufacturers in a bid to foster a stronger manufacturing economy. Following the successful factory tour to The Nigerian Bottling Company, Unilever, Seven-Up Bottling Company, Dangote Sugar Refinery, BUA Sugar Refinery, Foods and Golden Sugar Ltd, MRS, Flour Mill, Gerewa oil Mill and a host of others, there is general optimism about the Nigerian Industrial market: the manufacturers forecast continued growth of their businesses and have made investment plans to support this growth. This also led to the establishment of the quarterly Town Hall with Indigenous Private Equity and Asset Management Firms meeting which brings together reputable private equity and asset management firms in Nigeria to build a public-private partnership towards boosting investment in Nigeria, with a key focus on harnessing both Foreign Direct Investment (FDI) and local market opportunities. This also ignited the Saudi Business Round Table to foster a deeper understanding of Nigeria, assuring counterparts and investors of Nigeria’s readiness and support. Saudi Arabia has in turn pledged $10 billion in export finance to Africa by 2030 through the Saudi Exim Banks. An agreement between Saudi Exim Bank and Nexim Bank was also reached
to establish a fund promoting trade between the two countries. She also ensured a Trade Facilitation Stakeholder Engagement, Engagement on Consumer Credit, Engagement with the Creative Industry, Engagement on Micro, Small, and Medium Enterprises Revival, Engagement on Commodities Exchange and a host of others.

Dr Uzoka’s open-door policy and also paying rapt attention to the plights of stakeholders by proffering solutions to the challenges faced by investors or prospective investors to help promote economic boom and poverty reduction has gathered her great applause. She is also a strong advocate for cross-ministry partnership among other sister ministries which will further create a more functional and robust partnership in bringing the renewed hope mandate into full realization. Despite achieving a lot within her short stay in office, she is still working assiduously round the clock to achieve a long-term goal by creating more jobs, giving all necessary paperwork and supervising all agencies that will set in motion all plans to rejig the country’s economy. As they say that; the reward for a job well done is more job, Uzoka-Anite is ready to put in more commitment and also work hard to assist the President in bringing the dividend of democracy to Nigerians.