Former Managing Director of Wema Bank Plc, Ademola Adebise, has emphasized the importance of alumni engagement, stakeholder-driven growth, and sustainability as Wema Bank marks its 80th anniversary.
Speaking at the “Oluyole 2025” second reunion of Wema Bank’s former staff under the umbrella of “Ex-Colleagues” to commemorate Wema Bank’s 80th anniversary held on Saturday, April 26, 2025, at Jogor Event Centre, Ibadan, Adebise described the occasion as an opportunity not just for reunion but also for strategic reflection.
“This gathering holds a special place in our hearts, as it is not only an opportunity to reconnect with old friends and colleagues but also a platform to reflect on our shared experiences, appraise our socio-economic welfare, and collectively strategize on navigating the complexities of today’s financial and economic landscape,” he said.
Adebise’s speech traversed the bank’s history of resilience, the present realities, and strategies for the future.
“As we gather here today, we must reflect on our journey so far — where we started, where we are, and most importantly, where we are headed,” he added.
Tracing Wema Bank’s evolution, Adebise recalled its establishment in 1945 as Agbonmagbe Bank and subsequent acquisition by the Odu’a Group.
He said that despite early challenges such as weak capital, liquidity issues, and bureaucratic inefficiencies, strategic reforms, including investment in technology and workforce development, repositioned the bank for growth.
Adebise, however, noted the impact of the Structural Adjustment Programne in 1985, the 1991 Stock Exchange listing, various transformation programs, leadership transitions, and the acquisition of National Bank in 2006.
He also cited the 2008 financial crisis and the ongoing responses to regulatory changes, including the new recapitalization policy of the Central Bank of Nigeria (CBN).
“Today, Wema Bank is recognized for its digital innovation, especially with the launch of ALAT, Africa’s first fully digital bank, in 2017”.
“ALAT revolutionized the way banking is conducted, offering a seamless, customer-centric experience that aligns with global trends in digital finance”.
“Despite economic challenges, Wema Bank recorded a Profit Before Tax (PBT) of N102.5 billion in 2024, with customer deposits rising to N2.5 trillion and total assets closing at N3.6 trillion. Shareholders’ funds stood at N256.5 billion”, Adebise stated.
Acknowledging the harsh economic realities facing retirees and former staff, Adebise called for a deeper, more structured alumni engagement.
“There is immense value within this network of former staff — individuals with decades of experience, regional understanding, and deep-rooted relationships”.
“Rather than allow this wealth of knowledge to lie dormant, we must harness it through purposeful engagement”, he said.
He proposed initiatives such as establishing a welfare foundation, creating cooperative investment schemes, and forming an alumni council to collaborate with Wema Bank’s CSR team on community development projects.
“As we look to the future, it is imperative that we remain resolute in delivering value to our stakeholders,” Adebise emphasized, stressing that success must now be measured by societal impact and inclusivity.
The former Wema Bank Managing Director/CEO advised alumni to prioritize health, reconnect with family, continue learning, and let go of past grievances.
“Let go of the past so it does not hold you back from enjoying the present”.
“We served with honor. What matters now is our peace, not old battles”, he urged.
Earlier, in his welcome address, Chairman of the Reunion Planning Committee, Prince Wale Adedapo congratulated Wema Bank on reaching its 80th milestone, describing the achievement as “a testament to the bank’s resilience, innovation, and adaptability over eight decades”.
He stressed that the reunion provided an opportunity for both celebration and introspection.
“Our gathering here today is not only a moment to celebrate but also a moment to recommit ourselves to the ideals that built Wema Bank into the institution it is today,” Adedapo said.
The event, tagged “Oluyole 2025,” was filled with nostalgia, camaraderie, and strategic discussions aimed at securing the bank’s future and preserving its legacy.
