President Bola Ahmed Tinubu congratulates WEMA Bank, Nigeria’s oldest surviving indigenous bank, on its 80th anniversary on May 2.

The President commends the bank for its unwavering resilience and technological innovations, which have set it apart among Nigeria’s banks.

WEMA Bank commenced operations on May 2, 1945, as Agbonmagbe Bank in Iperu-Remo, Ogun State.

It metamorphosed into WEMA Bank in 1969. In 2015, it upgraded its regional status to become a national bank. Today, it is one of the key national banking institutions in the country.

President Tinubu commends the bank’s leadership for staying the course and steering the ship in the right direction.

“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,” the President remarks.

While underscoring WEMA Bank’s 80 years of impact in the Nigerian financial services sector, President Tinubu expresses his confidence in the bank’s brighter future, particularly under his administration’s Renewed Hope agenda, which has restored confidence in the country’s economy and financial system.

 

Bayo Onanuga,

Special Adviser to the President

(Information & Strategy)

May 1, 2025