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Wema Bank Approves N50bn Private Placement
The Business NG
|The BusinessNG
Wema Bank Plc has secured shareholder approval to raise N50 billion via private placement as part of its broader capitalisation plan, following the Central Bank of Nigeria's (CBN) recapitalisation directive for banks.
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The decision comes on the heels of the successful conclusion of its N150 billion rights issue, signaling a phased strategy to meet the new capital requirements without exploring merger or acquisition options.
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