The Federal Government, yesterday, stated that it has borrowed $495 million from the World Bank for the implementation of the Transforming Irrigation Management in Nigeria Project (TRIMING). Minister of Water Resources, Mr. Suleiman Adamu, who stated this while reeling out his achievements as minister in Abuja, explained that the project involves the rehabilitation/expansion of about […]
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The Nigerian Stock Exchange has sanctioned eight banks with fines totalling ₦102.7 million for failing to file their financial statements at the regulatory date. The Exchange launched its new sanction regime for the delay in submission of companies’ results on January 1, 2018, saying companies might pay fines ranging from ₦100, 000 to more than […]
Read More Wema Bank Plc has posted improved bottom-line for the nine months ended September 30, 2018, helped by a significant growth in trading income. The results released last Friday showed net interest income of ₦15.349 billion, up from ₦11.976 billion in the corresponding period of 2017. Net fee and commission income fell slightly from ₦5.551 billion […]
Read More Wema Bank Plc said it has entered into partnerships with Development Bank of Nigeria (DBN) to improve access to cheaper funds for small businesses in Nigeria, recently. To this end, the bank said MSMEs and businesses in all segments can access up to N153 million and N610 million, respectively, from the bank. A statement by […]
Read More Wema Bank Plc yesterday said it would raise ₦20 billion via bond offering in August to boost its capital adequacy. According to Reuters, Adebise said: “We need to enhance our funding. The bank is in the process of raising Tier II and the offer will be opened in August.” The debt raise is the second […]
Read More Wema Bank has reiterated its commitment to attaining growth through innovations, saying it is in the final stage of its restructuring process that started in 2009. At its Annual General Meeting (AGM) in Lagos, the bank witnessed a growth of its gross earnings by 20.07 per cent, from ₦54.36 billion in FY2016 to ₦65.27 billion […]
Read More Tier two financial institution, Wema Bank Plc has disclosed that failed to filed its 2017 audited financial statement for the year ended 31st December 2017, to the Nigerian Stock Exchange (NSE), citing non-obtaination of necessary approvals as reason for the delay. In a statement of notice published on the NSE’s website, signed by the bank’s […]
Read More An American-based Nigerian model, Nneoma Anosike, has sued Wema Bank plc at a Federal High Court in Lagos for alleged infringement of her intellectual property. The plaintiff, who is a 2014 brand Ambassador of Pepsi Cola Nigeria, sued through her father, Mr Frank Anosike, as lawful attorney, claiming ₦75 million against the bank as general […]
Read More Wema Bank Plc has issued a notice of an Extra-Ordinary General Meeting (EGM), to seek the consent of its shareholders for a comprehensive scheme of capital reduction. The exercise is in line with the procedures set out in Sections 105, 106, 107, 108, 109, 110, 111 and 120 of Companies and Allied Matters Act (CAMA) […]
Read More FMDQ OTC Securities Exchange has approved the registration and listing of Wema Bank’s ₦50 billion Commercial Paper (CP) programme on its platform. The CP Programme registration, according to the Exchange, strategically positions Wema Bank Plc to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, […]
Read More Technology is changing the way banking is done, with lenders becoming more technology savvy to meet customers’ needs, Wema Bank Executive Director of Retail & North Directorate, Moruf Oseni has said. Speaking during the Digital Pay Expo 2017, a Fintech industry-focused event held in Lagos, he said banks should take steps that will enable them […]
Read More Wema Bank Wednesday held its Annual General Meeting (AGM) where its financial report for the year ending December 31, 2016 was presented to shareholders. The report showed that the bank recorded a double-digit growth in gross earnings, which rose 18.48 per cent from ₦45.79 billion to ₦54.25 billion, driven by an 18.61 per cent and […]
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