Wema Bank Expands Financial Inclusion Drive with 5for5 Scheme

Bennett Oghifo

Wema Bank has unveiled Season Five of its 5for5 Reward Scheme aimed at promoting financial inclusion, rewarding customer loyalty and encouraging increased adoption of digital banking channels across Nigeria.

Tagged “Evolve with Wema 5for5,” the new season of the initiative will run from May to December 2026 with a total reward pool of over N170 million for customers nationwide.

The bank said the latest edition introduces a more structured and merit-based reward system designed to recognise customers based on their financial activities and engagement across youth, women and mass market segments.

According to the bank, beneficiaries in the youth and student category will enjoy tuition support, laptops, pocket money and a grand Star Student reward, while women customers will benefit from empowerment grants, wellness packages and impact awards targeted at entrepreneurs.

Customers in the mass market category are also expected to receive daily cash rewards, monthly incentives and a grand prize of N5 million for the most consistent participant during the campaign period.

Speaking on the launch, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said the initiative reflects the bank’s commitment to transparency, customer empowerment and digital banking growth.

He explained that customers would qualify for rewards through consistent account funding and transactions carried out via ALAT, *945# and Wema Bank debit cards.

Oseni added that the revised framework was designed to encourage positive financial habits while ensuring fairness and alignment with regulatory standards.