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Inclusive Empowerment, SDGS: Wema Bank 5 for 5 PromoSets the Standard
Wema Bank has spearheaded a multifaceted approach to addressing multiple SDGs, as seen in a good number of the bank’s initiatives and solutions. One of the most outstanding of such initiatives is Wema Bank 5 for 5 Promo. Oluchi Chibuzor writes
In the quest to build a better world and a more sustainable future for all, the United Nations’ Sustainable Development Goals (SDGs) provide a practical blueprint that both addresses the needs of the global populace and applies to all categories of nations—developed, developing and underdeveloped. Anchored by 17 strategic pillars, the SDGs concisely summarise the critical aspects of interconnected global challenges across a broad spectrum of life, presenting a call to action for all, on individual, institutional and governmental levels. This call to action, simply put, is to take decisive steps in contributing to the achievement of the SDGs towards building a future where all can thrive regardless of race, colour, financial status and any other discriminating factors. Over time, individuals and institutions have carved niches in addressing particular SDGs. However, some unique entities have made it a point to simultaneously promote multiple SDGs towards accelerating the rate of progress in achieving the SDGs. In both the small and big actions, every effort counts towards addressing the needs of the global populace, as captured in the SDGs.
For institutions like Wema Bank, promoting the achievement of the SDGs has grown from simply being a step in the right direction. It has become a mission so vigorously pursued that the Bank has been reputed to have touched on over 90% of the SDGs so far. Going steps further, Wema Bank has spearheaded a multifaceted approach to addressing multiple SDGs with one single initiative, as seen in a good number of the bank’s initiatives and solutions. One of the most outstanding of such initiatives is Wema Bank 5 for 5 Promo.
Launched in 2021, the 5 for 5 Promo is a reward-focused initiative pioneered by Wema Bank, Nigeria’s oldest indigenous, most innovative bank and pioneer of Africa’s first fully digital bank, ALAT. Furthering its foundational mission of empowering the lives and businesses of indigenous Nigerians, Wema Bank launched the 5 for 5 Promo with the goal of giving back to its customers in appreciation for their loyalty, a goal the Bank has achieved and sustained by giving out cash rewards to customers who have remained loyal to the brand and its products.
Over the course of three seasons, Wema Bank, through the 5 for 5 Promo, disbursed a total of over N150,000,000 to 2,378 Nigerians, kicking off season 4 on October 1, 2024, with a staggering cash prize of N135,000,000 set for disbursement to thousands of Nigerians across Nigeria. This means that by the end of the ongoing Season 4, Wema Bank will have disbursed over N285,000,000 to Nigerians across Nigeria.
But, the Wema Bank 5 for 5 Promo doesn’t only stand out because of its purpose of giving back to the people. The Promo stands out because of its intentional and strategic approach to not only empowering lives and businesses but more importantly, ensuring inclusivity in the achievement of this goal of empowerment.
Vast in its reach and range, the impact of the Wema Bank 5 for 5 Promo in empowering lives and promoting the achievement of the SDGs can be viewed under 3 solid pillars, each critical in their own unique way.
EMPOWERING LIVES
No Poverty, Zero Hunger, Good Health and Well Being, Quality education : SDGs 1-4. Addressing the foremost SDGs, Wema Bank’s 5 for 5 Promo has been instrumental in eliminating hunger and poverty, as well as promoting good health and wellbeing. The Proo, through its random selection process, has continued to support its customers with surprise financial rewards in dire moments of need.
According to Harcourt Emmanuel, a student who emerged winner in the first season of the Wema Bank 5 for 5 Promo, the cash prize played an important role in the furtherance of his education, providing funding at a crucial time to cover the payment of school fees as well as purchase of text books. Such was the case of Amarachi Esther Ihetu, a student of AfeBabalola University who emerged winner in Season 3.
Munam Victor, an Investment Banker who emerged winner in Season 3 had simply funded his Wema Bank Domiciliary Account to foot the bill for his Masters’ abroad. One can imagine his shock on receiving an unexpected credit alert in a moment where financial needs were at a peak.
Also, on this unending list of beneficiaries of Wema Bank’s 5 for 5 Promo was a young man named Farouq Adewale, who had taken up a job as a Barber to gain money for his education. Helping his dreams come true, Farouq’s story took a positive turn when he won in the third season of the Promo, receiving funds which he used to pay his school fees and continue his education.
Corper Aderogba Joyce Adesayo, another winner from Season 1, also expressed deep gratitude in reflection of the impact her 5 for 5 Promo cash win had on her at the time. Referring to the cash win as unexpected, she explained how the money supported her at a time when she was “entirely broke”, helping a growing Corps Member like her to buy foodstuffs and motivating her to expand her “side hustle”, a petty trading business she had begun to support herself.
But it wasn’t just Corper Joyce. Hundreds of other Nigerians have also attested to the Wema Bank 5 for 5 Promo’s impact in addressing their financial needs, motivating their business expansion and kickstarting ventures that they would ordinarily have never thought to invest in due to lack of funding. With each credit alert, the Wema Bank 5 for 5 Promo has not just saved lives from poverty and hunger; it has footed medical expenses, furthered educations and promoted quality wellbeing for all.
BUILDING BUSINESSES
Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Sustainable Cities and Communities: SDGs 8, 9 and 11. Much like Corper Joyce, the 5 for 5 Promo has also provided support for the establishment and expansion of dozens of Nigerian businesses. In a gesture that would sustain SDGs 1-4, the Wema Bank 5 for 5 Promo has not just given fish, it has empowered dozens to fish.
From 50-year-old Madam Ibidapo Muidat who channeled her win towards expanding her business to Fashion Designer, Alake Raimot Shofolahan, who invested her win in acquiring a sewing machine for her business, trader Jimoh Zainab who got unexpected capital to stock up her shop, Onyelusi GoodnewsFesta who invested her win in her rice business and OluwatoyinAyinde who channelled her wins towards acquiring her dream shop to showcase her unique fabrics; the Wema Bank 5 for 5 Promo has become a pillar of support for intending and existing businesses across Nigeria. With some of these businesses also cutting across key areas like recycling, green energy and infrastructure, the Wema Bank 5 for 5 Promo is not just building businesses; it is empowering entrepreneurs for positive societal impact and building resilient economies where the people can thrive today and in the future.
PROMOTING EQUALITY AND GENDER INCLUSION
Gender Equality, Reduced inequalities: SDGs 5 and 10. Wema Bank has proven beyond words that it is committed to empowering women, promoting inclusion and intentionally ensuring diversity in its efforts to empower lives and businesses. Over the course of the 5 for 5 Promo, one thing that has stood out significantly is inclusion; and it’s not just with gender.
Since its launch, the Wema Bank 5 for 5 Promo has touched on various parts of the six geopolitical zones in Nigeria, ensuring that Nigerians across Nigeria can access the opportunities provided regardless of their location in the country. Naturally, the 5 for 5 Promo’s pool of winners is as diverse as can be, featuring Nigerians from all walks of life across different ethnicities and tribes.
Beyond location, the Wema Bank 5 for 5 Promo has proven itself intentional in ensuring that even the rural class of Nigerians can become winners. From Domiciliary account holders well-to-do enough to bank in dollars to the petty traders making a living off market sales and small profits, the Wema Bank 5 for 5 Promo has promoted financial inclusion reaching far into the grassroots of the nation, ultimately improving national economic indices like Gross Domestic Product (GDP), GDP Per Capita, Unemployment and Underemployment, among others. Addressing one of the most critical aspects of equality, the Wema Bank 5 for 5 Promo has remained particularly invested in gender equality. Over the course of the 5 for Promo, the Bank has introduced special women-focused draws where the cash prizes have been reserved for only women, bridging the gap in gender equality by promoting women inclusion. In March 2024, Wema Bank, as part of its Women’s Month celebration itinerary, rewarded 113 women with cash prizes out of the 120 winners for the 5 for 5 Promo March monthly draw. Just this year, in March 2025, Wema Bank raised the bar, rewarding 131 women with N11,000,000 in just one monthly draw, also in commemoration of the Women’s Month celebration; a;l these in addition to the Promo’s track record in the women to men ratio in the gender distribution of winners so far. As of 9th July 2025, a total of 4,361 winners have emerged so far in just Season 4 of the Wema Bank 5 for 5 Promo, 2180 of whom were women; accounting for slightly over 50% of the winners so far this season.
THE IMPACT: WEMA BANK 5 FOR 5 PROMO
The Wema Bank 5 for 5 Promo has continued to empower lives and transform stories, standing firmly as a beacon of hope to millions of Nigerians as economic fluctuations continue to prevail. With each unexpected cash reward, Wema Bank, through the 5 for 5 Promo continues to provide funding for individuals to fulfill their basic needs, aspiring entrepreneurs to set up profitable ventures across various industries and verticals, existing businesses to expand beyond borders; stimulating economic growth and promoting national development.
With each cash reward, Wema Bank’s impact through the 5 for 5 Promo is simultaneously addressing multiple SDGs, spearheading accelerated progress in the achievement of this global objective. This is how the UN-stipulated Sustainable Development Goals will be achieved. As earlier established, the achievement of the SDGs is a goal that requires collective effort on individual and institutional levels; and the 5 for 5 Promo is just one way that Wema Bank is playing its part, multiple SDGs at a time.
As the Wema Bank 5 for 5 Promo Season 4 approaches its end, over 4,000 lives stand living witness to the profound impact generated as hundreds more look ahead to this beacon of hope, anticipating the day their own lucky moment where their stories may be transformed forever through one intentional gesture by an institution that clearly cares.
Since its establishment in 1945, Wema Bank has built a legacy of empowering lives and businesses through resilient commitment, unparalleled innovation and a strategically intentional approach to delivering value. With the Bank’s 80thanniversary celebration on May 2nd 2025, arose a challenge to every institution across Africa: Deliver value beyond your primary functions or risk becoming forgotten in the decades to come.
Wema Bank has lived through 80 years of impact on millions of lives, businesses, industries, institutions and the nation as a whole. As the Bank continues to actively champion the achievement of the SDGs, the world looks ahead to a future of limitless possibilities, powered by Nigeria’s oldest indigenous and leading innovative bank, Wema Bank.
