Wema Bank Denies Misleading Claims on Gulf Bank Properties

Wema Bank Plc filed a corporate action statement on 18 May 2026 rejecting media allegations concerning the sale of Banana Island properties linked to the defunct Gulf Bank Plc. The filing sets out the bank's account of a ₦4.6 billion inter-bank placement made in 2002 and the subsequent recovery process, including NDIC involvement.