President Bola Tinubu has congratulated WEMA Bank on its 80th anniversary, commending the institution for its resilience, innovation, and contributions to Nigeria’s economic development.
In a statement issued on Thursday, the President described WEMA Bank as Nigeria’s oldest surviving indigenous bank and lauded its transformation from a regional lender to a key player in the national banking sector.
“Over the last eight decades, the bank has focused on the vision of its founding fathers to support Nigerian businesses across all the key economic sectors with strategic business advisory and financial support, which are vital for sustainable growth,” Tinubu said.
Founded on May 2, 1945, as Agbonmagbe Bank in Iperu-Remo, Ogun State, the institution rebranded as WEMA Bank in 1969. In 2015, it attained national banking status and has since distinguished itself through technological innovations, including the launch of ALAT, Nigeria’s first fully digital bank.
President Tinubu applauded the bank’s leadership for “staying the course and steering the ship in the right direction,” noting that WEMA Bank’s consistent performance has earned it a place among Nigeria’s foremost financial institutions.
He also expressed optimism about the bank’s future, affirming that his administration’s Renewed Hope agenda would further strengthen the country’s financial system and boost confidence in its economy.
“WEMA Bank’s journey of impact continues, and I am confident it will play an even greater role in the unfolding era of renewed hope and national progress,” the President added.
WEMA Bank’s 80th anniversary marks a major milestone in Nigeria’s banking history, with stakeholders praising its legacy of innovation and support for small and medium-scale enterprises.
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