Wema Bank, Nigeria’s oldest and longest-surviving indigenous financial institution, has officially marked its 80th anniversary, drawing commendations from the Federal Government and state governors for its enduring legacy, innovative strides, and impact on the nation’s economic development.
The landmark celebration, which took place on May 2, 2025, in Lagos, highlighted the bank’s journey from its humble beginnings as Agbonmagbe Bank Limited in 1945 to its current status as a pioneer of digital banking in Africa through its ALAT platform. Over the past eight decades, Wema Bank has grown into a symbol of resilience and a beacon of indigenous enterprise, maintaining its relevance through dynamic innovations and customer-centric services.
President Bola Ahmed Tinubu, in a congratulatory message released on May 1, 2025, praised the bank for its technological innovations and unwavering commitment to the vision of its founders. “Over the last eight decades, the bank has focused on the vision of its founding fathers to support Nigerian businesses across all key economic sectors with strategic business advisory and financial support, which are vital for sustainable growth,” the President noted.
He further applauded Wema Bank’s leadership for steering the institution with purpose and integrity, adding that the bank’s legacy and contributions to the Nigerian financial services sector serve as a model for resilience and forward-thinking leadership.
Speaking during the anniversary celebration, Wema Bank’s Managing Director/CEO, Moruf Oseni, expressed gratitude to the government, customers, shareholders, and stakeholders for their enduring support. “Corporate longevity in Nigeria is not very common. Many banks, institutions, and household names from the 1900s are no longer in existence. Against this bleak backdrop, Wema Bank’s story shines,” Oseni said.
He reaffirmed the bank’s commitment to digital innovation, inclusive banking, and a customer-first philosophy. “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,” he added.
The event drew the presence of several state governors including Engr. Seyi Makinde of Oyo State, Prince Dapo Abiodun of Ogun State, and Hon. Lucky Aiyedatiwa of Ondo State, all of whom lauded the bank for its consistent role in supporting economic development at the grassroots and national levels.
Representatives of Vice President Kashim Shettima and the First Lady, Senator Oluremi Tinubu, also attended the gala, reiterating the federal government’s appreciation of Wema Bank’s contribution to financial inclusion and national growth over the decades.
As Wema Bank sets its sights on a future of greater impact, stakeholders and well-wishers agree that its 80-year journey is not only a cause for celebration but a testament to the potential of indigenous institutions to thrive and lead in Nigeria’s evolving economic landscape.