Tinubu Hails Wema Bank at 80, applauds the legacy of innovation, resilience

President Bola Tinubu congratulated Wema Bank for his 80th anniversary, praising the institution for his resilience, innovation and contributions to the economic development of Nigeria.

In a declaration issued on Thursday, the president described the Wema Bank as the oldest indigenous bank survivor of Nigeria and praised its transformation from a regional lender to a key actor in the national banking sector.

“In the last eight decades, the bank has focused on the vision of its founding fathers in support of Nigerian companies in all key economic sectors with strategic consultancy and financial support, which are fundamental for sustainable growth,” said Tinubu.

Founded on May 2, 1945, as AgbonMagbe Bank in Iperu-Remo, in the state of Ogun, the institution renamed as Wema Bank in 1969. In 2015, he reached the status of Banca Nazionale and since then distinguished himself through technological innovations, including the launch of Alat, the first completely digital bank of Nigeria.

President Tinubu applauded the bank’s leadership to “remain the path and drive the ship in the right direction”, observing that Wema Bank’s coherent performance has gained a place among the main financial institutions of Nigeria.

He also expressed optimism on the future of the bank, stating that the renewed agenda of his administration would further strengthen the country’s financial system and would increase trust in his economy.

“The journey of Wema Bank’s impact continues and I am confident that it will play an even greater role in the era that takes place of renewed hope and national progress,” added the president.

The 80th anniversary of Wema Bank marks a milestone in the banking history of Nigeria, with the interested parties that praised its legacy of innovation and support for small and medium -sized enterprises.

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