Banking
WEMA BANK REWARDS CUSTOMERS WITH N10,000,000 IN 5 FOR 5 PROMO SEASON 3 GRAND FINALE

- N90,000,000 Cash Prize disbursed over the Season.
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced 124 winners in the Grand Finale of the third season of its reward initiative, the Wema Bank 5 for 5 Promo—bringing the winners for the season to a total of 1200. The Grand Finale held on May 31st, 2024, at the Wema Bank Head Office in Lagos.
Introduced in 2019, the Wema Bank 5 for 5 Promo is a revolutionary reward initiative established by Wema Bank with a set goal of rewarding the Bank’s active and loyal customers for their support of the brand and its products. Designed to maintain transparency and objectivity, the Wema Bank 5 for 5 Promo is executed through monthly raffle draws supervised by Top Regulatory Bodies and exclusive to the Bank’s actively transacting customers based on the minimum requirements for each season. The first two seasons of the Wema Bank 5 for 5 Promo saw a total of 1,177 Wema Bank customers receive a N63.3 million total cash prize and the just concluded Season 3 raised the bar exceptionally high.
Season 3 of the Wema Bank 5 for 5 Promo launched in July 2023 with a N90,000,000 cash prize for both Naira and Domiciliary (Dollar) Wema Bank Account holders across the country. Over a 10-month span, the 5 for 5 Promo Season 3 toured Lagos, Abuja, Ibadan, Uyo, UNILAG, Akure, Enugu, Benin, Osogbo and for the Grand Finale, Lagos. Each monthly draw disbursed a N9,000,000 cash prize excluding the 6th draw in Akure which disbursed N8,000,000, leaving a N1,000,000 deficit that was carried forward to the Grand Finale, bringing the Grand Finale cash prize to N10,000,000; 2 winners of N1,000,000 each, 12 Domiciliary Account winners of N250,000 each, 30 winners of N100,000 each and 80 winners of N25,000 each. In attendance at the Grand Finale of Wema Bank 5 for 5 Promo Season 3 were Representatives of the Federal Competition & Consumer Protection Commission (FCCPC), the Lagos State Lotteries Board and the National Lottery Regulatory Commission (NLRC), among other dignitaries.
Disclosing the Bank’s motivation for launching the Wema Bank 5 for 5 Promo, Tunde Mabawonku, Wema Bank’s Executive Director of Retail and Digital Business, referenced the Bank’s commitment to giving back to its customers and providing an exceptionally rewarding banking experience for them. “What you see today as an instrument of positive impact and transformation began with a vision set in 2019. Since becoming a National Bank, we had been on a success streak with the launch of Africa’s first fully digital bank, ALAT, our female-focused proposition, SARA by Wema, our USSD solution *945# and a host of others. What stood out for us is how receptive our customers have been through the years, supporting us, welcoming our solutions, and embracing each innovation with open arms. The success reflected in our numbers could not have been possible without the loyalty that we have enjoyed from our customers, so we set our sights on a greater vision—to go beyond the ‘usual’ in our promise of providing customers with a seamless and rewarding banking experience. This vision was brought to life when we launched the 5 for 5 Promo in 2019 and I take this moment to appreciate every person who has contributed to the success of the Wema Bank 5 for 5 Promo and joined us in bringing this vision to reality”.
Elucidating the profound impact generated by the 5 for 5 Promo, Ayodele Olojede, Wema Bank’s Divisional Head of Retail and SME, added, “I am honoured to have had the privilege of assuming office in the preliminary stages of Wema Bank 5 for 5 Promo Season 3, witnessing first-hand the impact that we created in many lives, families, businesses and even careers across our diverse customer base throughout the season. We’ve had winners who were NYSC Corps Members, Business Owners, Corporate Employees, Parents, Students, and several other demographics from all over Nigeria and honestly, being here today at the Grand Finale leaves a bittersweet feeling. While the Grand Finale attests to the impactful journey that we have traversed through the past 10 months, it also marks the end of the Season. I am beyond proud of the transformative impact we have generated over the course of the 5 for 5 Promo Season 3 and the Bank is honoured by the privilege that our customers have given us to serve them. I thank every one of our customers for choosing Wema Bank. The rewards never end with us so keep using your Wema Bank account for all transactions. You have nothing to lose but have EVERYTHING to gain with Wema Bank”.
The Wema Bank 5 for 5 Promo stands out for its inclusivity, diversity and positive impact, touching the lives of hundreds of Nigerians of different ages, social statuses, interests, qualifications and lifestyles. While the 3rd Season of the Wema Bank 5 for 5 Promo has officially come to a wrap, the footprints left by the remarkable initiative remain imprinted in the hearts and lives of all Wema Bank customers who have benefitted from the Wema Bank 5 for 5 Promo.
Wema Bank continues to offer a plethora of rewards for customers via its Deals & Discounts feature on the ALAT App, its social media platforms and a host of other avenues championed by the Bank.
Banking
Wema Bank Announces The 6th Edition of Hackaholics, Theme “Beyond Algorithms: Engineering Disruptive Innovation

- …Introduces Accelerator Program for Startups
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the launch of Hackaholics 6.0, themed Beyond Algorithms: Engineering Disruptive Innovation, at a press conference held in Lagos.
The 6th edition of Hackaholics has been expanded to integrate both hackathon and ideathon formats, creating a dynamic platform where developers, designers, business strategists, and problem solvers can collaborate to tackle real-world challenges. With a strong focus on harnessing cutting-edge technology, particularly artificial intelligence (AI), Hackaholics 6.0 aims to drive transformative change across key industries such as education, healthcare, sustainable agriculture, and financial inclusion.
A key highlight of this edition is the introduction of the Wema Bank Accelerator Program, designed to address a critical gap in startup development—funding without strategic support. The program will serve as a launchpad for transformative ideas, providing mentorship, funding, and access to strategic networks to help startups scale successfully. In line with Wema Bank’s vision for continental growth, Hackaholics 6.0 will extend beyond Nigeria, with activations in key African tech hubs. This expansion supports the bank’s goal of fostering a pan-African innovation ecosystem, connecting talent to accelerate ideas, and positioning Wema Bank as a leader in shaping Africa’s digital future.
Moruf Oseni, Managing Director and CEO of Wema Bank, shared his vision for Hackaholics 6.0: “Hackaholics was created to empower Nigeria’s brightest minds to solve real-world problems and drive technological advancements. This year, as we celebrate our 80th anniversary, we are taking it a step further with Hackaholics 6.0. This edition is not just about solving problems; it’s about engineering disruptive innovation that will reshape industries and transform lives. To support this vision, we are introducing the Wema Bank Accelerator Program, a strategic initiative designed to provide startups with the tools, mentorship, and resources they need to scale and thrive. Hackaholics 6.0 is more than an event; it is a movement to empower the next generation of problem solvers and shape the future of Nigeria and Africa.”
Oseni also emphasized how innovators can participate: “We invite developers, designers, business strategists, and problem solvers from across Africa to join this transformative journey. Whether you are at the ideation stage or already have a market-ready solution, Hackaholics 6.0 and the accelerator program are designed to support you. Visit hackaholics.wemabank.com to apply and be part of this movement to engineer disruptive innovation that addresses real-world challenges and creates lasting impact.”
Ugonna Ginigeme, Co-Founder and CEO of Feegor and grand prize winner of Hackaholics 5.0, expressed his gratitude and excitement at the press conference: “We emerged the winner, The Meta Lord at Hackaholics 5.0. It was a very exciting moment. It still is a very exciting moment for us. At Feegor, we are not just building a Nigerian startup. We are building for the African market. We believe we will be number one. And we are super, super excited to have Wema Bank as a trusted partner for us. I would like to encourage everybody, every startup, every developer, and everybody who is focused and interested in building an amazing startup to apply. And I assure you that if you have Wema Bank as a partner, success is guaranteed.”
Since 2019, Hackaholics has empowered Nigeria’s brightest minds to solve real-world problems, driving technological advancements and supporting groundbreaking startups. As Hackaholics 6.0 kicks off, Wema Bank reaffirms its commitment to fostering problem solvers who will reshape Nigeria’s future and drive transformative change across Africa.
Banking
WEMA BANK SET TO COMMEMORATE INTERNATIONAL WOMEN’S DAY 2025…. To reward 131 women with N11,000,000 Cash prizes, among other activities

Further solidifying its position as a gender equality and inclusion driven bank, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced plans and unveiled the lineup of activities for its commemoration of the women’s month – March, 2025. Among the lineup of activities is the Wema Bank International Women’s Day (IWD) 2025 Event scheduled to hold on Tuesday, March 11, 2025, in Lagos, Nigeria.
With the global IWD 2025 theme “Accelerate Action”, the Wema Bank IWD 2025 Event will bring together key influential and prominent women from key industries in Nigeria to discuss the topic “Harnessing Innovation & Technology To Accelerate Financial Inclusion for Women,” highlighting the importance of leveraging innovation and technology to sustainably accelerate action towards promoting and enhancing financial inclusion for women.
Beyond the intriguing discussions, the Wema Bank IWD 2025 Event includes the Big Sister Project of the Wema Women Network where beneficiaries of the Bank’s women-focused mentorship programme will be recognised and spotlighted, as well as the HeForShe Awards where male employees of the Bank who have made outstanding strides in accelerating action towards women empowerment in the workspace, will be awarded as a means of encouraging more men to become pro-women; among other uniquely curated activities.
In recognition of the month of March as “women’s month”, Wema Bank’s remarkable lineup of activities for the month have been strategically curated with the goal of celebrating and rewarding women across Nigeria with exclusive experiences, financial rewards and practical support for personal and professional success. Among these activities are the Wema Bank 5 for 5 Promo Season 4 women’s month draw where 131 women from the Bank’s customer base will receive N11,000,000 in cash rewards, the Wema Women Network (WWN) outreach initiative for young female students at the secondary school level and many more.
Announcing the lineup of events and providing a deeper perspective into the Bank’s avid drive for women empowerment and inclusive impact, the MD/CEO, of Wema Bank, Mr. Moruf Oseni (FCIB), further highlighted the need for innovative and tech-driven solutions in accelerating action towards sustainable women empowerment. In his words, “In a world that is increasingly becoming digital, no conversation on sustainable development can be productive without giving consideration to how solutions in such regard will thrive and remain relevant as the world continues to evolve, As Nigeria’s oldest indigenous and leading innovative Bank, we are both deeply rooted in the advocacy for empowerment and remarkably forward thinking, so our mission of empowering lives is one that goes far beyond lip service”.
“We recognise the gap that exists in gender equality and as a pro-women bank, we have continued to develop new and more efficient ways to accelerate action for women empowerment. This is why we launched our women-focused proposition, SARA by Wema and this is why we are so intentional about making room for women in the spaces that matter and developing solutions that empower women to thrive in their personal and professional lives.
So, for IWD 2025, we are thinking beyond the now, as always, and looking far into the future to accelerate action for sustainable women empowerment by maximising technology and innovation to amplify impact. With this futuristic mindset, we successfully provided over N50 billion in finance, disbursed $2.4 million in collaboration with the Islamic Development Finance under the BRAVE Women project, and reached over 2million women through various skills development, business support, and market access programme—and these are just some of our numbers between 2019 and 2023. Imagine how much progress can be made in the global quest for women empowerment if more individuals and institutions begin to replicate the Wema approach. This is the vision that has kept us driven for 8 decades and these are some of the important discussions we will address at the Wema Bank International Women’s Day 2025 Event”.
International Women’s Day (IWD) is a globally acknowledged celebration commemorated annually on March 8 with the goal of celebrating women, raising awareness on the need for gender equality and steering action towards promoting women inclusion. Relentlessly promoting women empowerment beyond IWD, Wema Bank has demonstrated beyond words that it is fully committed to gender inclusion, consistently raising the bar and challenging other institutions to undertake the role of accelerators and generate positive impact for women empowerment.
As the Bank counts down to its 80th anniversary, the Wema Bank IWD 2025 Event and other activities the Bank has curated for the women’s month will further reinforce its position as a Bank with a deep-rooted drive for creating meaningful impact.
Banking
Wema Bank to Train and Empower 800,000 Nigerian Businesses

- …Signs MOU with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
Reinforcing its reputation as an institution committed to empowering SMEs, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has undertaken an initiative to empower 800,000 Nigerian Businesses; following its MOU Signing with Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) on February 25th, 2025 in Lagos, Nigeria.
SMEDAN is a national agency established in 2003 with the goal of promoting the development of the Micro, Small and Medium Enterprises (MSME) sector of the Nigerian Economy. The partnership with Wema Bank is focused on training MSMEs on soft skills, technical skills, and business skills, empowering them to build profitable businesses, gain more visibility and scale sustainably. To execute this grand initiative, Wema Bank will provide the training and resources for the 800,000 businesses who will be curated by SMEDAN. This initiative will take course over the next 12 to 18 months.
Commenting on the partnership, Wema Bank’s MD/CEO, Moruf Oseni, reiterated the Bank’s lifelong commitment to empowering Nigerians to thrive. According to him, “At Wema Bank, we don’t pay lip service to SME matters.
From inception in 1945, Wema Bank was built with a purpose to provide financing for the indigenous people of Nigeria. It wasn’t because banks didn’t exist during those years, it was because we identified the gaps in access to finance for our people.
This is why Wema Bank came to life; to provide tailored financial services and empower Nigerians to thrive on both individual and business levels”.
“Over the past 8 decades, Wema Bank has been driving this lifelong mission of empowering Nigerians with access to finance, constantly reinventing to develop more efficient ways of delivering value to the people. One cardinal thing that we haven’t deviated from is that we are fully committed to empowering entrepreneurs and small businesses in Nigeria.
The petty traders we provided for in the 1900s are the entrepreneurs and MSMEs that we continue to empower in the 2000s, and we will never relent in fulfilling this promise. So, MSME empowerment for us is not just a buzzword.
It is what we have always done, what we are doing through this partnership with SMEDAN and what we will continue to do beyond 80 years”.
Commending Wema Bank’s evident commitment and key role in empowering business and stimulating growth in the MSME Sector, Charles Odili, the Director General of SMEDAN expressed confidence in the success of this partnership with Wema Bank towards building a sustainably successful future for Nigerian MSMEs.
Closing out, he added, “I want to again, thank Wema Bank. This is a prime example of how collaboration and determination to create impact can make a positive difference. I thank you for their constant support to MSMEs and for not paying lip service to MSME Empowerment in Nigeria”.
Wema Bank has earned an admirable reputation as Nigeria’s SME Bank, going above and beyond in empowering businesses with access to finance, visibility, market access, tailored trainings, mentorship and various other forms of support.
Through this partnership with SMEDAN, Wema Bank is set to advance Nigeria’s MSME industry, building formidable Nigerian businesses and reinforcing Wema Bank’s position as the Bank that is committed to empowering MSMEs.
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