With the African Continental Free Trade Area now in force, the opportunities for SMEs to expand and grow are boundless. Information is key to unlocking all the benefits inherent in this agreement to Nigeria businesses.

Wema Bank is holding a webinar designed to provide SMEs with all the information they require to leverage this great opportunity for expansion and growth. The webinar which is tagged, “African Continental Free Trade Area; Unlocking the Benefits to SMEs, will feature thought leaders and industry experts including;

Mr. Francis Anatogu, Executive Secretary, National Action Committee on AFCTA & Senior Special Assistant to the President on Public Sector. Mr. Taiwo Oyedele, Fiscal Policy Partner & West Africa Tax Leader, PwC; and Mr. Adeola Ajai, Head Correspondent Banking, Wema Bank.

Attendees will get clarity on the scope of the African Free Trade Agreement, how they can benefit from this agreement, modalities set out by government for businesses seeking to trade under this agreement as well as the support mechanism put together by Wema Bank to facilitate intra-Africa trade.

While the webinar targets Nigeria Businesses, it is open to all members of the public who may be interested in learning about the African Continental Free Trade Agreement.

The Webinar, which is free for attendees, will hold virtually on Zoom platform on 10am, Friday, 29th January 2021. Interested persons can register via this link.

For more enquiries, please contact SMEhelpdesk@wemabank.com


Nigeria’s leading innovative Bank, Wema Bank, has shortlisted ten finalists to take part in the Virtual Bootcamp for its Hackaholics (2.0) Accelerator Program slated to start on the 18th of January 2021. The finalists, pooled from over five hundred applications, were revealed during the two-day virtual pitch program last year.

The pitch program began with an opening remark by the Managing Director, Wema Bank, Mr Ademola Adebise. He commended the startups for their efforts and willingness to contribute to the growth of Nigerian society. He said, “We are very proud to create a platform where businesses can have access to diverse resources that can enable them to provide solutions to prevailing everyday challenges. This is born out of our aspiration to create innovative solutions that can help us as a bank, our environment and the country at large. In its second year, we are very excited to have started an initiative focused on creating commercialization opportunities for participating businesses by leveraging top-notch resources needed to give their solutions a competitive edge in the market”.

The first day of the pitch program was an avenue for participating startups to prepare and get to know more about Hackaholics 2.0, the evaluation criteria, an overview of each identified industry, market demands and needs, the importance of tech in these areas, and a session for questions and answers. The second day of the program enabled participants to pitch their solutions to a group of industry experts(panellists) resulting in the shortlisting of ten finalists out of the twenty participants that pitched their solutions.

The ten finalists made up of two businesses across the five identified verticals; Health-tech, Edutech, Fintech, Gaming & Betting and Agritech, would be further engaged and helped to develop and groom their solutions into market-ready products. Among other engagement is an intensive month-long Bootcamp where these startups would undergo various ideation, design and development sessions in collaboration with our partners GreenHouse Capital (GHC) and known industry experts from home and abroad.

Wema Bank Leads In Customer Service and Digital Banking.

Wema Bank Nigeria Plc ranked top in two recent independent surveys on the Banking industry. In its 2020 Digital Channel scorecard, KPMG Nigeria named the bank as a leader in Payments and Transactions for digital banking. Also, in its recently released Banking Industry Customer Experience Survey, the consulting firm confirmed that Wema Bank climbed ten places to 2nd position in the Retail category.

Following a qualitative study of 17 Nigerian commercial banks focusing strongly on retail banking operations, KPMG Nigeria’s Digital scorecard tested customer experience across five areas – Digital Onboarding, Digital Payments & Transfers, Digital Lending, Self Service and Customer Care. It categorized banks into four distinct categories; Leaders, Challengers, Followers and Late Starters. Wema Bank emerged a leader in the Mobile & Internet banking (payments/transfers) and the Self-Service categories.

The assessment also revealed ALAT By Wema, the bank’s digital banking platform, as the best digital banking channel in Nigeria. According to the report, ALAT By Wema stands out because “the user interface is simple, and only relevant information is visible on the screen, thus keeping design minimal, user friendly, and removing the possibilities for user errors or confusion”. The digital banking platform has not only provided the latest banking technology, it fits perfectly into the lifestyle of Nigerians; making life easier for everyone.

In the recently published 2020 KPMG Customer Experience Survey, Wema Bank showed significant growth in the retail category, climbing up ten (10) places from the previous year to 2nd position, with an above industry average of 74.6% CX score. The survey cut across six universal pillars of Personalization, Integrity, Expectations, Resolution, Time & Effort and Empathy. The leading banks showed a mastery of these pillars and are outstanding at all of them. Wema Bank’s achievement in this category is a mark of its dedication to excellent customer service and refreshing support for all its customers. 

Separately, the bank received an award for the Best SME Bank of the Year for 2020 from BusinessDay. The award recognizes Wema Bank’s continuous support for small and medium scale businesses through loans, business advisory, and ease of payments and transactions.

Having redefined the banking space with ALAT, Wema Bank boasts of a capacity to onboard customers digitally end-to-end without the need to visit branches or agents. The bank continues to deliver innovative products to enrich payment and transfer offerings by creating a perfect blend of speed and functionality.

Bankers’ Committee Embarks On Cybersecurity & Fraud Awareness Initiative – Launches Moni Sense Campaign.

The Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria, on Monday, September 7th, 2020 launched its cybersecurity & fraud awareness campaign, called ‘Moni Sense’; to educate the general public on protecting themselves against cyber fraud and scams. As we kick off the end of year business season, comprehensive fraud and cybersecurity awareness remains important in ensuring the general Nigerian public is informed on their role in protecting their banking information from fraudulent activities.

Speaking on the initiative, Mr. Emeka Emuwa, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said;

“Fraudsters and scammers continually devise new ways to deceive the unsuspecting public, usually to lure them to inadvertently disclose confidential bank information. We encourage Nigerians to always be cautious and ignore any text message, phone call, or email asking to update your bank information, provide sensitive bank details, disclose online banking details, debit card numbers, bank verification number (BVN) or PIN to anyone.”

Financial literacy and public enlightenment are a critical pillar of the Bankers’ Committee mandate, making initiatives like this critical to the goal of increasing the number of financially included citizens in the country. With this initiative, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria aims to ensure Nigerians are empowered with critical information and knowledge necessary to make important financial decisions, enhance economic prosperity, stay fraud aware and cyber safe, and drive poverty reduction across the country.

In March 2020, the Central Bank of Nigeria (CBN) and the Bankers’ Committee introduced credit support schemes for households, MSMEs and businesses across several sectors including Healthcare, Manufacturing, Agriculture, Trading, and Aviation. The Bank unveiled a succession of targeted facilities starting with a N50 billion credit facility to support households, and micro, small and medium enterprises (MSMEs), followed by another N100 billion credit support intervention for the health sector as part of efforts to combat the negative impact of coronavirus (COVID 19) on the Nigerian economy.

For any enquiries, please send an email to contact@monisense.org.

Wema Bank Encourages Customers To Remain Safe

Wema Bank, Nigeria’s long-standing indigenous bank is urging customers and all Nigerians to stay safe as a result of the recent unrest in the country following the #endsars protest. As a highly innovative bank, Wema Bank encourages everyone to explore alternative banking channels as well as its digital banking platform ALAT for all financial transactions at a time like this.
Wema bank has recently notified customers of its decision to shut down branches in affected locations where a curfew has been imposed by the government, following this development, the bank issued a statement on its social media channels pleading with customers to remain sensitive to happenings in their environment and ensure safety is treated as top priority. Wema bank also urged its customers to be remain alert and be wary of phishing emails as times like this become target period for scammers to carry out their deeds.
Alternative banking channels available as disclosed by the bank includes the use of *945#, whatsapp banking as well as the use of ALAT, Africa’s first digital bank, to carry out banking needs. Customers can also reach out to its 24 hours contact centre; PURPLECONNECT (07000787753,• purpleconnect@wemabank.com) for prompt and seamless issues resolution.
In a statement made by Mrs Funmilayo Falola, Head, Brands and Marketing communication, Wema Bank, “We understand these are peculiar times and we encourage everyone to remain safe. As a bank, we remain committed to the safety and wellbeing of our customers which is why we plead with everyone to ensure they stay home as our online banking channels are available for all banking needs. We would continually keep to our promise to be with you all the way and we are positive that together we will achieve our dream of a better Nigeria.

Wema Bank Promotes 214 Staff, Reaffirms Commitment to Career Growth

Amidst the harsh realities brought by the pandemic, Wema Bank, last week, announced that it had promoted 214 staff members. The promotion is part of the bank’s custom to reward good performance.


The promotion, which comes with a salary increment, cuts across several departments and grades, including senior, middle and junior staff.


Chief Human Resources Officer, Wema Bank, Ololade Ogungbenro, said that the promotion was part of the bank’s intent to maintain a vibrant workforce by rewarding the effort of staff members.


“2020 has been a difficult year for all us but as a bank, we have had to depend on the commitment, innovative efforts, passion and dedication of our staff to ensure we continue to deliver refreshing digital solutions to our teeming customers.”


“Wema Bank is known for maintaining a motivated workforce with high standards of professionalism, innovation and excellence. Despite the current challenges of the Nigerian business terrain, the recent promotion is our way to reassure staff of the bank’s commitment to maintaining overall workforce motivation and support their career growth.”


Mrs Ogungbenro added that “while it may be practically impossible to promote everyone, measures have been taken to ensure the career growth of all staff through special courses, training and other strategic partnerships.”


“We have rebuilt our training school, the Purple Academy, which serves as a pathway for new staff to join the bank as well as a learning centre for staff members to increase individual and organisational productivity. We have also partnered with Coursera, one of the largest online courses and training platform in the world, to deliver free courses to staff to enable an increase in capacity, modern-day work practices and knowledge across several areas,” she explained.


Winners Emerge in Wema Bank’s Annual Royal Kiddies Award

Nigeria’s long-standing innovative bank, Wema Bank, has rewarded twenty of its Royal Kiddies account holders through an announcement made during the virtual selection which held on the 2nd of October 2020.

As the bank had earlier announced to make provision for educational support for its customers, a total of twenty winners emerged with six winners from the Lagos region, five from south west region and three each from the South East, South-South and Northern Nigeria.

Speaking during the selection which happened virtually, Dotun Ifebogun; Divisional Head, Retail Banking commended the efforts put in by customers of the Bank’s Royal Kiddies Account. According to Mr Ifebogun “The Royal Kiddies annual award demonstrates the banks unwavering support for its customers especially at a time when most families are facing the financial hardship posed by the global outbreak of COVID-19. We also know it’s “back to school” season and we believe this will contribute to the educational needs of the winners as they go back to school.

He further stated that because of the cash prize, many parents now look forward to the annual award with the expectation of having their wards among the lucky winners. He went on to say the annual Royal Kiddies Award is here to stay and encouraged parents who are yet to open a Royal Kiddies Account for their children ages 0-12 years to do so.


Similarly, Funmilayo Falola, Head Brands & Marketing Communication, Wema Bank commended the initiative, she said “the Bank prides itself in constantly devising means of rewarding customers across all segments and the annual Royal kiddies Award goes a long way to show this. As a bank we believe children are the future leaders of any nation and the need to invest in their education cannot be overemphasized”

Mrs Falola further described the annual Royal Kiddies Award as an avenue through which the bank supports the cause of education in the nation and specifically within families. Children get an early start to financial freedom at Wema Bank with the Royal Kiddies Account designed for ages 0 to 12



Wema Bank makes Changes to it’s Board

Wema Bank Plc, Nigeria’s oldest indigenous bank is pleased to announce the following changes to its Board of Directors


The Board of Directors have approved the appointment of Mr Oluwole Ajimisinmi as Executive Director and Mrs Ibiye Ekong as Independent Non-Executive Director of the Bank. This appointment has been approved by the Central Bank of Nigeria.


Wole Ajimisinmi joined Wema Bank in June 2009 as an Assistant General Manager. He has over 24 years of cognate experience with more than 15 years at Senior to Executive Management levels. Wole previously worked as a Legal practitioner for a number of years before moving into the Company secretariat role in a Commercial Bank. Wole is presently the General Manager and Regional Executive in charge of the Banks Retail, Commercial and Public sector business in Lagos State.


Ibiye Ekong has over 35 years of banking experience spanning various areas of banking such as Commercial & Retail Banking, Treasury, Corporate Banking, Public Sector as well as Enterprise Risk Management.  She has a Bachelor’s degree in Finance and Banking from the University of Lagos and an MBA degree from the Pan-African University, Lagos. She has also attended various banking and management programs offshore and within Nigeria. She is an Alumnus of the prestigious INSEAD Business School, Fontainebleau France, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an honorary member of the Chartered Institute of Bankers of Nigeria (CIBN). She is also a member of the South-South Economic Summit Group.


Mrs Ibiye Ekong’s appointment as Independent Director is also to replace Ms. Tina Vukor Quarshie – Independent Director who retired in August after successfully spending Eight (8) years on the Board.



Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them achieve their personal and financial goals.

Wema Bank To Boost Start-ups, Fintechs With Virtual Hackaholics 2.0

Wema Bank, creators of Nigeria’s first fully digital bank, ALAT, is spearheading future innovations in Financial Technology with the second edition of its technological expo – Hackaholics 2.0.


The digital exhibition is part of the bank’s initiative to expand its digital innovation beyond being the first fully digital bank in Nigeria. The event which will be a 2-day pitching competition will be held online from October 30 – 31, 2020 and will feature leading industry specialists as the marked judges.


Earlier in 2019, the bank held the maiden edition of Hackaholics which attracted 463 start-ups to solve problems in nine different areas. The top twenty were invited for a 3-day hackathon and the winners, Eazychange received $10,000, in funding for their transport management solution. To develop the ideas presented at the hackathon into tech-driven commercial solutions, Wema Bank’s Innovation team further engaged six of the startups of which some of them have launched,  been absorbed into the bank and the last batch set to launch as they were further developed at an incubation and acceleration program tagged “The Hackaholics Bootcamp”; the Bootcamp helped in transforming their products into working solutions.


Following the success of Hackaholics 2019, the bank is set to host the second edition, Hackaholics 2.0. themed ‘Connecting Worlds’. While we are fully aware of the impact of the pandemic on the country and our economy, the 2-day virtual event will focus on five essential areas – Health-tech (community health and disease management), Agric tech, Edutech,  Financial technology services and Gaming & Betting in a bid to contribute to  the country and economy recovery.


 The hackathon focus for this year is to scale-up existing solution providers at the acceleration bootcamp prepared for winners of the pitch competition. Hackaholics 2.0 promises to be an interactive event where Business owners, Innovators, and Creative thinkers, will learn, network and demo their solutions which speaks to any of the problem areas. The winning solutions will receive up to $40,000 in funding alongside other numerous non-cash benefits like access to market, working with renowned industry experts, APIs amongst other resources.


To participate at the virtual hackaholics 2.0, please visit https://hackaholics.wemabank.com to register. Everyone can also key into the hackathon by following the conversations on social media through the hashtag #hackaholics2.0.


Kiss disappointment goodbye. Say hello to easy banking with *945#

Disappointment can come in different forms and at the most unexpected moments. Like when you are about to clear your dinner bill but your wallet has been kidnapped by aliens if you know what we mean. That sinking feeling you get from knowing your date will think you’re trying to escape paying for the night – that’s the weight of disappointment.

Let’s not even go into the matter of the long face and appealing stares you get from your kid(s) when you swipe your card to pay for their favorite toys, and in that almost perfect moment, your transaction gets declined!

These bitterly disappointing experiences are now easily avoidable. With WEMA Bank’s *945#, you can easily kiss disappointment goodbye.

The USSD code combines the ease of mobile transactions with unprecedented reliability that means you no longer have to walk around dreading when next a failed transaction will humiliate you. *945# will save the day for those moments when you need things done fast and reliably.

You can open an account, change your account number, send/redeem money, purchase airtime and data, pay bills, and even withdraw money from ATMs without the need of your ATM card.

What’s more, all of these only require a phone connected to a cellular network. You don’t need to have a smart device or access to the internet.

WEMA Bank is handing the future of banking transactions over to you with *945#. Dial it today and say hello to easy banking!