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Wema Bank Celebrates Remarkable Journey of 79 years

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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.

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ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEYBOARD APPOINTMENTS, NAMES NEW CHAIRMAN

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Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy. These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko. The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined
experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd. Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

 

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to the outgoing Chairman, Alice Marie
Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.” Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

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Federal Government to Audit N2.8tn Fuel Subsidy Request Submitted by NNPCL

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The President Bola Ahmed Tinubu led Federal Government has made its intention known to initiate a new audit of the N2.8tn fuel subsidy request submitted by the Nigerian National Petroleum Company Limited.

An auditing firm, KPMG has successfully completed an initial audit that resulted in a reduction of the claims from N6 trillion to N2.7 trillion.

The federal government is exploring the option of involving an independent audit firm or instructing the Office of the Auditor General of the Federation to authenticate the assertions put forth by the corporation concerning the government’s outstanding debt to the oil company. The current move will ensure transparency and also ensure financial discipline in disbursing government funds which is in line to the administrations quest to curb corruption.

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Access Holdings Vests 23.8 million Units of Shares on Senior Executives

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In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of  Access Bank, its flagship subsidiary. This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.

Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.

This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.

According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.

Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.

Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo SojiOkusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share. Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.

Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively. Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.

The shares were vested on May 3rd and May 6th.

The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.

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