Tinubu celebrates Wema Bank at 80, applauds legacy of innovation
By Kunle Sanni
President Bola Tinubu has congratulated Wema Bank on its 80th anniversary, commending the institution’s resilience and technological innovation, which have set it apart in Nigeria’s banking sector.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described Wema Bank as Nigeria’s oldest surviving indigenous bank and praised its enduring contributions to national development.
Founded on May 2, 1945, as Agbonmagbe Bank in Iperu-Remo, Ogun State, the institution was renamed Wema Bank in 1969. It has since evolved from a regional lender to a national financial powerhouse, attaining national bank status in 2015.
President Tinubu lauded the bank’s leadership for maintaining a consistent focus on supporting Nigerian businesses, noting that Wema Bank has stayed true to its founding vision by offering strategic business advisory services and financial support across critical sectors of the economy.
“Over the last eight decades, the bank has remained committed to the vision of its founding fathers—to support Nigerian businesses across key economic sectors through strategic advisory and financial services, which are essential for sustainable growth,” he said.
Highlighting the bank’s role in transforming the financial services landscape, Tinubu expressed optimism about its future, particularly within the context of his administration’s Renewed Hope agenda, which he said is restoring investor confidence in the Nigerian economy.
Wema Bank continues to be a leading financial institution in Nigeria, widely recognized for its innovative strides, including the launch of Africa’s first fully digital bank, ALAT, in 2017.
