Wema Bank AGM: ₦1.25 Dividend Approved, Acquisition Plans Set

At its 2025 Annual General Meeting held on May 20, 2026, Wema Bank Plc shareholders passed seven resolutions, which the company disclosed in a corporate actions filing dated May 22, 2026.

Shareholders unanimously approved a dividend of ₦1.25 per share from the profit of the financial year ended December 31, 2025. The dividend is payable to members on the register as at the close of business on April 29, 2026, subject to withholding tax deductions.

On board composition, Engr. Wilson Agu was appointed as an Independent Non-Executive Director. Three existing directors — Mrs. Abolanle Matel-Okoh, Mrs. Ibiye Ekong, and Mr. Adeyemi Adefarakan — were re-elected following retirement by rotation.

The Board was authorised to fix auditor remuneration at a fee to be agreed upon. Three shareholder representatives — 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 annual fees for the 2025 financial year were fixed at ₦144,500,000. Shareholders also unanimously mandated directors to take steps to acquire a licensed commercial bank or pursue any other business combination in line with the bank's growth objectives.