Recapitalisation: Wema Bank gets regulatory approvals for N40bn rights issue

Its Managing Director, Mr Moruf Oseni , disclosed this in a statement made available on Friday in Lagos. Oseni said as a forward-thinking and pioneering bank, the…

The News Agency of Nigeria reports that CBN, in March, launched a recapitalisation programme requiring commercial banks to raise fresh capital. Oseni said: “With this remarkable development, Wema Bank has now successfully raised the first tranche of its plan in the minimum requirement laid down by the CBN.

The managing director expressed satisfaction with the vote of confidence given by the bank’s shareholders during its first rights issue exercise, noting that its shares were fully subscribed. Its Managing Director, Mr Moruf Oseni, disclosed this in a statement made available on Friday in Lagos. Oseni said as a forward-thinking and pioneering bank, the…

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Source: Law Daily Report (lawdailyreport.net)

Moruf Oseni Rights Issue Wema Bank

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