Bank
WEMA BANK SET TO LAUNCH SEASON 4 OF ITS 5 FOR 5 PROMO REWARD INITIATIVE From October 1st, 2024
*WEMA BANK SET TO LAUNCH SEASON 4 OF ITS 5 FOR 5 PROMO REWARD INITIATIVE From October 1st, 2024
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, is set to launch the 4th season of its transformative reward initiative, the Wema Bank 5 for 5 Promo. The highly anticipated Season is scheduled to kick off on Tuesday, October 1, 2024.
Introduced in 2021 the Wema Bank 5 for 5 Promo is a reward initiative pioneered by the Bank with the goal of rewarding its diverse range of customers for active loyalty to the brand, its products, and offerings. The Promo is executed seasonally via thoroughly regulated live draws where winners are selected from the Bank’s pool of active and transacting customers, based on the stipulated minimum requirements and modalities of the season. With benchmarks for qualification set as low as N5,000 in monthly transactions, the Wema Bank 5 for 5 Promo has evolved through each season, solidifying its repute as a source of hope, financial support, business growth and goal acceleration for thousands of Nigerians nationwide.
Over the course of 3 seasons, the 5 for 5 Promo has disbursed over N150,000,000 to 2,378 Nigerians across the six geopolitical zones in Nigeria, with 639 customers winning N31,500,000 in season 1, 539 winning N31,850,000 in season 2 and 1,200 winning N90,000,000 in the 3rd season of the 5 for 5 Promo which spanned August 2023 to July 2024. As a new season of the Wema Bank 5 for 5 Promo approaches, tensions are heightening as Nigerians await a new season of financial rewards and pleasant surprises from Wema Bank. Customers of the Bank are encouraged to request a debit card or get onboarded on the ALAT app and *945# and start transacting via any of these channels in anticipation of the season’s kick-off. Other Nigerians interested in participating are encouraged to open Wema Bank/ALAT account(s) to get started.
Reiterating the Bank’s commitment to providing a rewarding banking experience for its customers, Moruf Oseni, MD/CEO of Wema Bank, elaborated on the significance of the Wema Bank 5 for 5 Promo for its customers. “At Wema Bank, we have made it a duty and core value to provide optimum returns for our customers, and this commitment is evident in all that we do as a Bank. ‘Optimum returns’ for Wema Bank is limitless which is why we continue to raise the bar and set new standards, innovating new and improved ways to provide a highly rewarding banking experience for our customers. It is this sense of duty to our customers that inspired the launch of the Wema Bank 5 for 5 Promo”.
“The past seasons of the Wema Bank 5 for 5 Promo have been highly successful, but I can assure you that the coming season will be the biggest in 5 for 5 Promo history to date. We are, yet again, raising the bar, and with more to win this season, every Wema Bank customer is in for a treat. It’s beyond the rewards customers are getting. With the 5 for 5 Promo, we are telling customers that we’re grateful, showing them that we care, and empowering lives and businesses to thrive. Through this initiative, we have made undergraduate millionaires, established businesses across Nigeria, boosted existing ventures despite economic fluctuations, given hope to Nigerians of various ages and walks of life; and this season, we are more than prepared to exceed all milestones, break new ground and transform more lives for the best. The Wema Bank 5 for 5 Promo Season 4 kicks off on October 1 and we have a special Independence Day live draw to kickstart the season, so I welcome every Nigerian to Wema Bank and encourage all to get on ALAT, request a Wema/ALAT card or onboard on *945# and get ready for an intriguing new 5 for 5 Promo Season, bigger than ever before”, Oseni concluded.
The Wema Bank 5 for 5 Promo season 4 promises to be a game changer and every Nigerian can participate and secure big wins throughout the season by being a Wema Bank customer and getting onboarded on the valid transaction channels which include the ALAT app, the Wema/ALAT card and the Bank’s USSD Banking platform, *945#.
All transactions made using the qualifying Wema Bank and ALAT transaction channels from October 1, 2024, are potentially qualifying transactions and could secure rewards ranking in millions for Nigerians across Nigeria.
Alpha Morgan Bank Rolls Out Mobile App for Android & iOS — Instant Account Opening on Alpha Morgan Bank Mobile App
Alpha Morgan Bank officially launched its mobile banking application, marking a major milestone in the Bank’s mission to simplify banking experiences for individuals and businesses across Nigeria. The Alpha Morgan Banking App is available for download on both Goole Play Store and iOS App Store.
Built around the principles of simplicity and user-centric innovation, the Alpha Morgan App allows customers to take full control of their finances from the palm of their hand anytime and anywhere. With features that meet the evolving needs of modern banking users, the app provides a secure, intuitive, and efficient digital banking experience, designed to make everyday banking fast, simple, and secure.
Users can enjoy instant onboarding and account access, seamless fund transfers both within and outside Alpha Morgan Bank network and effortless bill payments. The app also offers real-time transaction history for easy tracking, secure login options including biometric authentication, and round-the-clock access to customer service support, all tailored to delivering Satisfying Banking at your fingertips.
According to Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank, “The launch of the Alpha Morgan App is a digital convenience and a significant step forward in our broader mission of delivering satisfying banking to every customer.”
This digital rollout also complements Alpha Morgan Bank’s commitment to flexible and accessible banking across Nigeria’s diverse population.
Customers can now download the Alpha Morgan App on Google Play Store and iOS App store.
Scan to download Alpha Morgan Bank App
FirstBank Agric and Export Conference: Charting a New Course for Non-Oil Exports
Lagos, 11 August 2025 – FirstBank, the premier West African financial institution and financial inclusion service provider is proud to announce the 2025 edition of the FirstBank Agric and Export Conference themed “The Fundamentals of Building a Non-Oil Export Driven Economy“, which will take place on Tuesday, August 19, 2025, at the Eko Convention Centre. Building on the momentum of previous successful editions, this year’s Expo reaffirms the Bank’s commitment to supporting Nigeria’s agricultural and non-oil export sectors as key drivers of economic development.
The FirstBank Agric and Export Conference aims to keep Nigerians abreast of emerging trends in the agricultural and non- oil export sector, whilst providing them insights into how innovative solutions can contribute to the overall development of the economy, and the nation at large. The conference will adopt a hybrid format, allowing most participants to join virtually while principal stakeholders attend in person. Attendees will have the opportunity to explore exhibition booths featuring major organizations and associations from industry. The event will feature a keynote speech, Goodwill messages, Plenary discussions, where select Speakers will expound on the theme and technical sessions to be handled by subject matter Specialists in the Agriculture and Export Value Chain.
Expected guest speakers include the Honourable Minister of Agriculture & Food Security, Senator Abubakar Kyari as the keynote speaker while the plenary and technical sessions will be enriched by insights from industry leaders like the MD Bank of Agriculture (BOA), Mr. Jafar Abubakar Umar; MD/CEO Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello; National Action Committee on AfCFTA, Mr. Segun Awolowo; President, All Farmers Association of Nigeria, Architect Kabir Ibrahim, CEO Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni and a host of others. These renowned speakers will contribute their expertise and perspectives throughout the various sessions, ensuring participants gain valuable knowledge to enhance their roles within the agricultural and export value chain
Speaking on the Conference, Olusegun Alebiosu, Managing Director, FirstBank Group stated, “The FirstBank Agric and Export Conference is a strategic platform for stakeholders to converge, share knowledge, and drive strategies that can unlock the full potential of Nigeria’s agricultural sector and non-oil export industry. Through this platform, FirstBank is empowering customers and stakeholders by providing them with actionable insights, innovative solutions, and valuable connections that can help them navigate the complexities of the agricultural and nonoil export sectors. In addition, we aim to deliver tangible benefits to our customers, enhance their business prospects, and create lasting value for our stakeholders, while contributing to the growth and development of Nigeria’s economy.”
To participate in the FirstBank Agric and Export Conference, interested participants can click on https://firstbanknigeria.zoom.us/webinar/register/WN_Lit8tD6KSm6kzLMcyHwo8Q to register.
The FirstBank Agric and Export Conference is one of the Bank’s key initiatives to promote collaboration and innovation within the agricultural and non- oil export sectors. By providing a strategic platform for stakeholders, the conference aims to enhance the competitiveness of customers and partners in the global market. With agriculture identified as the most viable alternative to oil for generating foreign exchange earnings, this initiative supports economic diversification and is poised to accelerate national growth and development.
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Wema Bank Releases unaudited results for H1 2025, Profit Before Tax climbs 231% to N101.2billion
Wema Bank Releases unaudited results for H1 2025, Profit Before Tax climbs 231% to N101.2billion.
Wema Bank Plc, Nigeria’s oldest indigenous bank, most resilient and pioneer of Africa’s first fully digital bank, ALAT, has released its unaudited consolidated financial statements for the half-year period ended June 30, 2025, to the Nigerian Exchange Group (NGX).
On track to set an unprecedented benchmark, Wema Bank’s H1 2025 Unaudited Financial Results reported remarkable financial upturns including a Profit Before Tax (PBT) of ₦101.2 billion, representing a 231% increase compared to ₦30.55 billion recorded in the corresponding period of H1 2024. The Bank’s Gross Earnings also rose to ₦303.20 billion, reflecting a 70% increase from H1 2024’s ₦178.63 billion. Interest Income grew by 65% year-on-year to ₦240.12 billion (H1 2024: ₦145.53 billion), while Non-Interest Income surged by 91% year-on-year to ₦63.08 billion (H1 2024: ₦33.10 billion).
Wema Bank’s balance sheet remained robust and well-structured, with total assets rising from ₦3.585 trillion in HI 2024 to ₦3.963 trillion in H1 2025; deposit base growing by 3% from ₦2.523 trillion in FY 2024 to ₦2.60trillion, and Loans and Advances growing by 19% to ₦1.426 trillion in H1 2025, compared to ₦1.201trillion reported in FY 2024. The Bank’s Non-Performing Loan (NPL) ratio stood at 3.17% as at H1 2025, reflecting the Bank’s continued focus on maintaining asset quality. These indicators not only reflect Wema Bank’s resilience and efficiency, but also its strong capacity to sustain its growth momentum and continue to deliver optimum value to its stakeholders.
Commenting on the outstanding results, Wema Bank’s Managing Director/CEO, Moruf Oseni, affirmed the Bank’s commitment to maintaining the upward growth trajectory in its financials and delivering optimum value to every stakeholder of Wema Bank. According to him, “For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. 3 years ago, we took our Profit Before Tax from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and in 2024, our PBT stood at an impressive ₦102 billion. Now, just halfway through 2025, we have achieved over 99% of our 2024 full-year PBT in just H1, and for us, this is just a starting point”.
“As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond,” Oseni concluded.
For 8 decades, Wema Bank has built a legacy of empowering lives, breaking untapped ground, setting industry standards, proving unmatched resilience and delivering unparalleled value to Nigerians of all ages, from all walks of life and across diverse verticals and industries. These Unaudited Financial Results further reflect the Bank’s strength and capacity to sustain its legacy in the decades to come.
Other key profitability and efficiency metrics that further underscore the Bank’s performance, as recorded in the H1 2025 Unaudited Results, include a 60.40% growth in Return on Average Equity (ROAE), 4.64% growth in Return on Average Assets (ROAA), 13.68% growth in Capital Adequacy Ratio (CAR) and 47.55% growth in Cost-to-Income Ratio.
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