Wema Bank stock: CEO Moruf Oseni bought 3.09 million shares for NGN 98.67 million

Published on 10/22/2026 at 06:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Moruf Oseni bought 3.09 million shares for NGN 98.67 million on September 23, 2026. Wema Bank stock posted NGN 131.37 billion profit.

Capital meets earnings

CEO Moruf Oseni bought 3,088,288 Wema Bank shares for NGN 98.67 million on September 23 and 24, 2026.
First-half 2026 profit after tax reached NGN 131.37 billion, up 50.12 percent from the prior year.
Wema Bank traded at NGN 30.10 on the NGX on October 20, 2026, with market capitalization at NGN 1.21 trillion.

WEMABANK, NGWEMABANK07, Illustration mit AI erstellt.

Wema Bank (NGWEMABANK07) CEO Moruf Oseni bought 3,088,288 shares for NGN 98.67 million in transactions on September 23 and 24, 2026, according to Brand Icon Image. The purchase puts management capital alongside shareholder capital as the lender pursues a larger balance sheet and tier-one ambitions.

Three dates show the shift

On December 31, 2025, Wema Bank reported profit of NGN 221.8 billion, according to Brand Icon Image. By June 30, 2026, first-half profit before tax had risen to NGN 154.56 billion from NGN 100.59 billion, while profit after tax reached NGN 131.37 billion, up 50.12 percent year over year, as reported by THEWILL. On September 23, 2026, Oseni began the disclosed purchase at an average price of NGN 31.95 per share, according to Brand Icon Image.

What does the profit mean for shareholders?

The headline earnings growth came with a per-share trade-off. Earnings per share fell 19.81 percent to NGN 6.55 in the first half of 2026, while loans and advances expanded to NGN 2.12 trillion from NGN 1.74 trillion in December 2025, according to THEWILL. Customer deposits rose to NGN 3.45 trillion from NGN 3.29 trillion, leaving loan growth ahead of deposit growth during the period.

The earnings mix also deserves attention. Net fee and commission income fell 20.48 percent to NGN 36.09 billion, while net trading income rose from NGN 2.84 billion to NGN 21.53 billion in the first half of 2026, figures reported by THEWILL. That contrast makes recurring digital and transaction income important for the next stage of the recapitalization story.

What date frames the next report?

A Nigerian Exchange notice dated September 30, 2026 set a closed period from October 1, 2026 until 24 hours after Wema Bank publishes its unaudited third-quarter financial statements for the period ending September 30, 2026. The filing links the restriction directly to the next quarterly reporting cycle and gives the earnings date added importance.

Stock value and capital scale

Wema Bank traded at NGN 30.10 on the Nigerian Exchange on October 20, 2026. Its market capitalization was NGN 1.21 trillion on that date, while the same market snapshot showed a 52-week range of NGN 18.00 to NGN 34.95.