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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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ICT

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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NSE Admits N6.3bn 17-Year WEMA Bond

The Nigerian Stock Exchange has announced the Listing by Introduction of N6,295,000,000 Series 1:7-Year 18.50% Fixed Rate Bond Due (2023) under the N50,000,000,000 Wema Funding SPV Plc Debt Issuance Programme.

Commenting on the listing, Oscar N. Onyema, Chief Executive Officer, NSE, said: “We are pleased to be listing the Wema Fund SPV PLC bond, a further affirmation of our unique platform to help businesses access capital. Despite the challenging macro environment, this bold step by Wema Bank is indeed commendable as only businesses that continue to execute on their strategy will be at a vantage position to benefit when the economy rebounds.”

Speaking at the Bond Listing ceremony, Managing Director of Wema Bank, Segun Oloketuyi noted that the bank’s turnaround plan which began in 2009 is now in its growth phase, hence the raising of tier II capital to ensure availability of long-term capital to support growth.

“We remain committed to our growth plans and to constantly upgrading our services to give our customers a delightful banking experience,” Oloketuyi said. The Wema Bank MD also highlighted the importance of listing Wema SPV bond on the NSE platform.

“The Nigerian Stock Exchange provides a unique platform which enhances the liquidity of bonds traded on it. Thus, bondholders can easily monitor the value of their investments,” he said.

The Bonds issued will be used to fund the acquisition of the relevant Wema Bonds issued by Wema Bank Plc and FGN Bonds (where applicable) issued by the Debt Management Office.

Gross proceeds of the Bonds under the Programme is factor to purchase Wema Bonds from the Sponsor pursuant to the Master Bonds Purchase Agreement entered into between the Sponsor, the Issuer and the Trustee, and/or FGN Bonds issued by the Federal Government of Nigeria.

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