Wema Bank Managing Director and Chief Executive Officer, Moruf Oseni, has acquired 13.13 million ordinary shares in the bank in a transaction valued at about N395.3 million.
The transaction was disclosed by Wema Bank in a notification of share dealing by insiders dated September 29, 2026, and signed by the company’s Secretary and General Counsel, Johnson Lebile.
According to the filing, Oseni purchased 13,132,796 Wema Bank shares at N30.10 per share. At the stated price, the acquisition is worth approximately N395.3 million.
Oseni has led Wema Bank as Managing Director and CEO since 2023, overseeing the lender’s operations and its digital banking business, including ALAT, Wema Bank’s digital banking platform.
The latest acquisition increases Oseni’s direct shareholding in the bank, although his total shareholding has not been made public.
The purchase comes as Wema Bank continues to expand its banking operations and digital financial services in Nigeria.
