Wema Bank Launches N170m 5for5 Reward Scheme Season 5

Wema Bank officially launched the fifth season of its flagship 5for5 reward scheme, which has a total prize pool of N170 million. This initiative aims to drive digital banking adoption and financial inclusion across Nigeria.

The new season introduces a merit-based system designed to reward customers, particularly focusing on youth, women, and the mass market segment based on actual financial engagement. According to a statement, the revised framework encourages positive financial habits while maintaining transparency and fairness.

Beneficiaries in the youth category can access tuition support and gadgets, while female entrepreneurs can apply for grants. The mass market segment will continue to feature daily and monthly cash incentives, culminating in a N5 million grand prize.

Customers must fund their accounts with N5,000 and complete a minimum of five transactions monthly to qualify for rewards. The 5for5 scheme, introduced in 2019, has rewarded over 7,000 customers with N300 million linked to the ALAT Wema Bank debit card, reinforcing the bank's commitment to financial inclusion.