Federal Government Applauds Wema Bank’s Innovation, Transformation at 80th Anniversary

Eromosele Abiodun

The federal government over the weekend applauded Wema Bank Plc for its innovative initiatives that has transformed Nigeria’s financial sector and its support for national development, as the bank celebrated its 80th anniversary.

Specifically, the government lauded Wema Bank for transforming the banking system with the launch of ALAT eight years ago, a move that rejuvenated the bank into one of the best in the country.

Speaking at the bank’s grand celebration gala night in Lagos, themed, “80 Years of Impact, The Future of Possibilities,”  Vice President , Kashim Shettima, praised Wema Bank for redefining digital banking and for being a committed partner in national growth.

Represented by his special adviser on Job Creation and Micro, Small and Medium Enterprises (MSMEs), Temitola Adekunle-Johnson, he stated, “You have an 8-year-old digital bank in ALAT, now Nigeria’s number one, from a bank once known as one for our grandmothers. That’s remarkable transformation. The Presidency does not take your support for granted. From empowering MSMEs to partnering with us on national innovation programmes, your contributions are exceptional.”

According to Shettima,: “80 years in the life of an institution is not a mere passage of time. It comes with a record of stories, of challenges overcome, of milestones attained, and dreams realised. Wema Bank’s journey from its founding in 1945 to today is a reflection of resilience, vision, and innovation.”

While commending the Managing Director/CEO, Mr. Moruf Oseni and the entire management team for leading boldly into the future, he added, “You were the first bank to partner with us on the Alaska Innovation Programme aimed at training three million Nigerians. You were also pioneers in cooperative banking, empowering informal economic players nationwide.”

Speaking earlier, Wema Bank’s Chairman, Oluwayemisi Olorunshola said: “Wema Bank was founded during the thick of Nigeria’s colonial era, grew from a single branch to over 150, and pioneered Africa’s first fully digital bank. This is a story of God’s grace, foresight, resilience, and tenacity.”

Olorunshola who is the first female to hold the position, acknowledged the bank’s journey through colonial rule, civil war, economic downturns, and a global pandemic, crediting its survival to strong leadership and stakeholder support.
Managing director/CEO, Moruf Oseni echoed similar sentiments, pledging the bank’s continued commitment to financial inclusion, digital innovation, and national development.

“Our journey of 80 years is a testament to transformation. We are not resting—we are building the future of banking for the next generation,” Oseni said, while emphasizing the bank’s ongoing focus on youth empowerment, gender equity, and customer-driven innovation through platforms like ALAT.