Wema Bank AGM: Dividend Declared, Acquisition Plans Approved
Wema Bank Plc held its 2025 Annual General Meeting electronically on May 20, 2026, where shareholders passed seven resolutions covering dividends, board changes, and a potential acquisition. The filing, dated May 22, 2026, was submitted to the market as a corporate actions disclosure.
At its 2025 Annual General Meeting held electronically on May 20, 2026, Wema Bank Plc shareholders unanimously passed seven resolutions. The bank declared a dividend of ₦1.25 per share from profits for the financial year ended December 31, 2025, payable to members on the register as at April 29, 2026, subject to applicable Withholding Tax.
On board composition, Engr. Wilson Agu was appointed as an Independent Non-Executive Director, while Mrs. Abolanle Matel-Okoh, Mrs. Ibiye Ekong, and Mr. Adeyemi Adefarakan were re-elected to the board. The board was also authorised to determine the remuneration of the bank's external auditors.
Three shareholders — Mr. Ogbonna Joe Anosikeh, Professor Oyelakin Samuel Awobode, and Mrs. Omobola Esther Osijo — were elected to the Statutory Audit Committee alongside two board representatives. Non-Executive Directors' aggregate fees for the 2025 financial year were fixed at ₦144,500,000.
In a notable resolution, shareholders unanimously authorised the board to take all necessary steps to acquire a licensed commercial bank or pursue any other business combination, including appointing professional advisers to facilitate the transaction.
