All roads will lead to Lagos on May 2, 2025, as Wema Bank, Nigeria’s oldest indigenous financial institution and the pioneer of Africa’s first fully digital bank, ALAT, celebrates its 80th anniversary in grand style.
The milestone event, set to take place in the city where the bank’s journey began, promises to be a momentous occasion that honours a legacy of innovation, resilience, and service to generations of Nigerians. Though full details of the commemorative event remain under wraps, organisers hint at a star-studded, exclusive gathering themed Timeless Elegance, set to be one of the most anticipated corporate celebrations of the year.
Founded on May 2, 1945, as Agbonmagbe Bank Limited by the late Chief Matthew Adekoya Okupe, alongside his wife, Regina Adekoya Okupe, and their family friend, Reverend Alade, Wema Bank emerged at a time when Nigeria’s banking sector served primarily colonial interests. With humble beginnings in a modest room at Agbonmagbe Lodge in Yaba, Lagos, the bank carved a new path by offering financial services tailored to indigenous Nigerians—pioneering a shift toward inclusive banking during the colonial era.
Eighty years later, that vision has blossomed into a national institution synonymous with innovation, adaptability, and integrity. From its transformation into a fully-fledged commercial bank to its role as the force behind ALAT, Africa’s first digital-only bank, Wema has consistently demonstrated an ability to evolve with the times while remaining true to its founding ideals.
“Wema Bank’s legacy is a testament to the strength and endurance of Nigerian enterprises,” a company spokesperson stated. “In eight decades, we’ve navigated economic upheavals, technological revolutions, and shifting consumer behaviours—emerging each time with greater clarity and purpose.”
The bank’s journey also reflects a commitment to national development. Beyond retail and corporate banking, Wema has empowered underbanked populations, nurtured SMEs, supported digital innovation, and opened its infrastructure to fintechs—helping to shape the future of financial services in Nigeria.
As Wema Bank marks this historic anniversary, it invites Nigerians across generations to reflect on a story that transcends time—a story of determination, reinvention, and enduring impact.
The upcoming celebration in Lagos will not only honour the institution’s past but also signal its readiness to embrace the future with renewed vision and energy.
With 80 years behind it and a promising future ahead, Wema Bank continues to stand tall as a symbol of what is possible when innovation meets purpose.
