Wema Bank has upgraded its Banking License. This was confirmed by a Letter written to the Nigerian Stock Exchange (NSE) notifying the NSE of the upgrade.
The statement read;
We are pleased to inform you of the grant by the Central Bank of Nigeria of a Commercial Banking license with National Authorization.
The upgrade of the Bank’s license from a Commercial Banking license with Regional Authorization to that of a Commercial Banking license with National Authorization was conveyed in CBN’s letter dated November 17, 2015.
Kindly inform the market accordingly and we seek your kind approval to inform the public.
The letter was signed by the Chief Finance Officer of the Bank, Tunde Mabawonku and the Company Secretary Oluwole Ajimisinmi.