Business
Wema Bank Reports N101.2 Billion Profit in H1 2025, Achieves 231% Surge Amid Digital Expansion
Wema Bank Plc, Nigeria’s oldest indigenous financial institution and digital banking pioneer, has announced an extraordinary 231% rise in Profit Before Tax (PBT), reaching ₦101.2 billion in its unaudited half-year (H1) 2025 results. The figures, filed with the Nigerian Exchange Group (NGX), position the bank as one of the strongest performers in the Nigerian financial sector this year.
This impressive leap, up from ₦30.55 billion in the corresponding period of 2024, underscores Wema Bank’s ongoing transformation and expansion, particularly in digital banking via its flagship product, ALAT.
Robust Financial Metrics Across the Board
Wema Bank’s Gross Earnings rose to ₦303.2 billion in H1 2025, a 70% increase from ₦178.63 billion in H1 2024. Interest Income surged to ₦240.12 billion — a 65% year-on-year increase — while Non-Interest Income jumped by 91% to ₦63.08 billion.
Its balance sheet remains healthy and forward-facing. Total assets climbed from ₦3.585 trillion in H1 2024 to ₦3.963 trillion in the same period this year. Deposits rose modestly by 3% to ₦2.60 trillion, while Loans and Advances grew by 19% to ₦1.426 trillion, up from ₦1.201 trillion.
The bank’s Non-Performing Loan (NPL) ratio stood at 3.17%, reflecting its continued dedication to maintaining asset quality.
CEO Moruf Oseni: “This is Just the Beginning”
Speaking on the stellar performance, Wema Bank’s Managing Director and CEO, Mr. Moruf Oseni, attributed the gains to a long-standing culture of innovation, resilience, and customer-focused delivery.
“For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. Three years ago, we took our Profit Before Tax from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and in 2024, our PBT stood at an impressive ₦102 billion. Now, just halfway through 2025, we have achieved over 99% of our 2024 full-year PBT in just H1, and for us, this is just a starting point,” he said.
“As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond.”
Performance Highlights in Figures
The half-year financial statement also showcased key profitability and efficiency metrics:
Return on Average Equity (ROAE): +60.40%
Return on Average Assets (ROAA): +4.64%
Capital Adequacy Ratio (CAR): +13.68%
Cost-to-Income Ratio: +47.55%
These indicators reflect not only profitability but also operational efficiency and strong capital buffers, boosting investor confidence.
Sustaining Eight Decades of Innovation
For 80 years, Wema Bank has maintained its position as a trusted and evolving financial partner for Nigerians across all demographics and industries. With ALAT, Africa’s first fully digital bank, it continues to lead the sector in innovation and inclusion.
The bank’s consistent growth despite economic headwinds signals strong management practices, digital agility, and a clear strategic vision for the future.
Business
Optiva Capital Partners Appoints Red Media Africa to Boost Brand Visibility, Business Growth
Optiva Capital Partners has appointed Red Media Africa as its lead communications agency in a move aimed at strengthening its brand positioning, stakeholder engagement, and long-term business growth.
The partnership, which took effect on 1 June 2026, will see Red Media Africa work alongside Optiva’s internal team to oversee strategic communications, media relations, brand storytelling, stakeholder engagement, and integrated marketing campaigns.
The announcement comes as competition intensifies within the wealth management and investment immigration sector, where firms are increasingly investing in communications and reputation management to attract clients and expand into new markets.
Why it matters
Optiva Capital Partners is one of Nigeria’s established wealth preservation and investment immigration firms, serving clients seeking global investment opportunities, international real estate solutions, and insurance services.
Industry analysts say strong corporate communications have become increasingly important in financial services, where trust, credibility, and visibility often influence customer decisions.
The partnership reflects a broader trend among financial institutions seeking to align brand perception with business growth and evolving customer expectations.
Optiva seeks stronger global presence
According to Amb. Amaka Okeke, Executive Director, Business Development at Optiva Capital Partners, the decision was driven by the company’s ambition to expand visibility and strengthen engagement with stakeholders.
She said the partnership represents an important step in ensuring that the firm’s external image reflects its internal growth and transformation.
“At Optiva, we are focused on delivering exceptional services to our clients. Internally, we have been strengthening our products, people, structures, and partnerships, and we are now intentional about ensuring our external perception reflects this progress. As we continue to grow, we require the right partner to help tell our story to the right audiences, while we focus on building the business. Our partnership with leading PR agency Red Media Africa marks an important milestone in our commitment to reputation building and strategic communication. With strong expertise in communications, reputation management, and brand empowerment, Red Media Africa is well positioned to help us amplify our voice and strengthen our global presence.”
The company says the collaboration is expected to support its efforts to build awareness, deepen trust among stakeholders, and reinforce its position within the global wealth preservation industry.
Red Media Africa eyes impactful brand growth
Red Media Africa’s Group Chief Executive Officer, Ayodeji Razaq, described the partnership as an opportunity to support a company focused on innovation and long-term value creation.
“Optiva Capital Partners is a brand that embodies ambition, innovation, and long-term value creation. We are excited to bring our communications expertise to support the company’s vision, deepen its connection with key audiences, and drive impactful brand growth across multiple platforms.”
The communications firm has worked with businesses, public institutions, and development organisations across Africa, helping brands strengthen visibility and stakeholder engagement.
Industry perspective
Communications and branding experts say partnerships between financial firms and specialist communications agencies are becoming more common as businesses seek to differentiate themselves in increasingly competitive markets.
Experts note that effective storytelling and reputation management can help firms communicate value, build customer confidence, and navigate complex global markets.
For investment-focused companies operating across borders, visibility and trust are often key factors influencing customer acquisition and retention.
About Optiva Capital Partners
Founded more than 16 years ago, Optiva Capital Partners has developed a presence in wealth preservation, investment immigration, international real estate, and insurance services.
The company says its latest partnership aligns with its long-term vision of becoming a globally recognised wealth preservation and investment immigration firm.
What happens next?
Under the agreement, Red Media Africa will lead the development and execution of communication strategies designed to enhance Optiva’s public profile and strengthen engagement with clients and stakeholders.
Observers will be watching to see how the partnership influences the company’s market visibility and expansion efforts in the coming months.
Business
Onoriode Akusu Wins Emerging PR Champion of the Year Award at Brand Handlers Summit 2026
Onoriode Akusu, founder and lead strategist of Alphabet PR Limited, has been named Emerging PR Champion of the Year at the 2026 Brand Handlers Summit and Awards, a recognition that highlights his growing influence within Nigeria’s public relations and strategic communications sector.
The award was presented during the second edition of the Brand Handlers Summit and Awards, a marketing communications platform that brings together professionals from across branding, advertising, public relations, and media industries.
Organisers said the recognition reflects Akusu’s contributions to public relations, his client-focused approach to narrative development, and his efforts to promote strategic communication practices in Nigeria and beyond.
Why it matters
The public relations industry has become increasingly important as businesses, institutions, and public figures seek to strengthen trust, manage reputation, and engage audiences in a highly competitive digital environment.
Industry observers say recognition programmes such as the Brand Handlers Summit Awards help spotlight professionals introducing new approaches to communication, brand positioning, and audience engagement.
For emerging agencies, industry accolades can also enhance credibility and attract new opportunities in a sector where innovation and measurable impact are becoming key performance indicators.
Akusu reacts to the recognition
Speaking after receiving the award, Akusu described the honour as recognition of the broader value of effective communication.
“This award is not just a personal milestone but a testament to the power of impactful communication in building brands and telling stories that resonate with people.”
He added:
“At Alphabet PR Limited, we remain committed to pushing boundaries by empowering brands, individuals, and institutions with strategic storytelling, media influence, and reputation management that drives trust, visibility, and impact in the real world.”
Spotlight on strategic communications
The Brand Handlers Summit and Awards celebrates excellence across marketing, communications, and brand management, recognising professionals and organisations shaping industry trends.
Akusu’s latest recognition is expected to further raise the profile of Alphabet PR Limited, which has positioned itself as a strategic communications agency focused on storytelling, media engagement, and reputation management.
Communications experts note that demand for strategic public relations services continues to grow as organisations increasingly rely on authentic storytelling and stakeholder engagement to strengthen public trust.
Industry perspectives
Marketing and communications professionals have increasingly highlighted the role of narrative strategy in helping organisations navigate changing consumer expectations and the fast-paced digital media landscape.
Awards recognising emerging practitioners are often viewed as indicators of future leadership within the sector, particularly as younger professionals introduce new approaches to audience engagement, digital communications, and brand reputation management.
What’s next?
Following the recognition, industry attention is likely to focus on how Alphabet PR Limited expands its footprint within Nigeria’s communications industry and across regional markets.
The award also reinforces ongoing conversations about the growing influence of public relations professionals in shaping business reputation, public perception, and stakeholder engagement in an increasingly connected world.
Business
Moniepoint CEO Pushes Credit-Driven Growth as CBN Launches Nigeria Payments Vision 2028
Nigeria’s financial technology sector should focus on using payment data to expand access to credit for small businesses, according to Moniepoint founder and Group Chief Executive Officer, Tosin Eniolorunda.
Speaking during the launch of the Central Bank of Nigeria’s (CBN) Nigeria Payments System Vision (PSV) 2028 in Abuja, Eniolorunda said the country’s next phase of financial services growth will come from building lending products on top of existing payment infrastructure.
The comments come as the CBN seeks to accelerate financial inclusion, innovation and resilience through its new payments roadmap, which aims to expand access to financial services and strengthen Nigeria’s digital economy.
“I believe the next phase of growth will come from layering services like credit onto existing payment flows, using the visibility and trust already built through financial transactions,” Eniolorunda said.
Why It Matters
Nigeria has emerged as one of Africa’s largest fintech markets, driven by rapid growth in digital payments, mobile money services and agent banking networks.
Despite this progress, access to credit remains a major challenge for many micro, small and medium-sized enterprises (MSMEs), which contribute significantly to employment and economic activity.
Industry analysts say limited collateral requirements, inadequate credit histories and high lending risks have historically prevented many small businesses from accessing formal financing.
Eniolorunda argued that payment platforms already generate valuable transaction records that can help lenders better understand business performance and make faster lending decisions.
“One of the most powerful things about payment infrastructure is the data it creates. When used responsibly, it can help unlock quicker and more accessible credit for businesses that have historically been underserved. For many small businesses, access has always been the real barrier.”
CBN Targets Deeper Financial Inclusion
At the launch event, Olayemi Cardoso, Governor of the Central Bank of Nigeria, said the PSV 2028 framework builds on decades of progress in digital payments and aims to deepen financial inclusion.
According to Cardoso, Nigeria has developed one of the continent’s most innovative payment ecosystems, supported by fintech innovation and widespread adoption of digital financial services.
“Over the past two decades, Nigeria’s payments ecosystem has evolved into one of the most dynamic and innovative in the world. From instant payments and digital adoption to fintech-led innovation, our progress has often set the pace on the continent.”
The governor said financial inclusion must remain a national priority, noting that millions of Nigerians are still outside the formal financial system.
“Inclusion and not exclusion must define our future.”
Cardoso added that the PSV 2028 framework seeks to raise financial inclusion levels to 95%, potentially bringing tens of millions of additional Nigerians into the formal banking ecosystem.
Industry Leaders Call for Collaboration
The panel discussion featured several key figures from Nigeria’s financial services sector, including Abubakar Suleiman, Chief Executive Officer of Sterling Bank Plc, who moderated the session.
Other participants included Premier Oiwoh of Nigeria Inter-Bank Settlement System, Deremi Atanda of Remita Payment Services Limited and Uche Uzoebo of Shared Agent Network Expansion Facilities.
Eniolorunda stressed that achieving the ambitions of PSV 2028 would require cooperation across the financial ecosystem.
“Achieving the ambitions of PSV 2028 will require regulators, banks, fintechs, and ecosystem players working together with a shared long-term vision.”
His remarks echoed concerns raised by Cardoso about avoiding inconsistent policy implementation and ensuring continuity in financial sector reforms.
What It Means for Small Businesses
For millions of Nigerian entrepreneurs, the discussion goes beyond payments and technology.
The ability to access affordable credit can determine whether businesses expand, hire workers or survive economic pressures.
Experts say that if payment data can be effectively used to assess risk and creditworthiness, more businesses could gain access to loans without relying solely on traditional collateral requirements.
The approach aligns with global fintech trends where transaction histories, digital records and alternative data are increasingly used to support lending decisions.
Moniepoint’s Growing Role in Business Finance
Moniepoint has built its reputation through payment infrastructure, agent banking and business banking services targeted at small businesses.
The company says it disbursed more than ₦1 trillion in loans to Nigerian MSMEs in 2025, reflecting growing demand for digital financial services and alternative credit solutions.
Industry observers note that the company’s push for credit-based innovation aligns closely with key objectives outlined in the PSV 2028 roadmap, including open banking, infrastructure resilience and broader economic integration.
What Happens Next?
The success of PSV 2028 will likely depend on how effectively regulators, banks and fintech firms collaborate to translate policy goals into practical financial services.
If successful, the framework could accelerate financial inclusion, improve access to credit and strengthen Nigeria’s position as a leading fintech hub in Africa.
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