Ademola Adebise, MD/CEO WEMA bank

Following the successful establishment of its N50 Billion Bond issuance programme, Wema bank PLC says it is set to issue up to N20 Billion senior unsecured bond in series 2 Bond issuance program and the proceeds of the Bond are intended to boost the working capital financing needs of the Bank. This was contained in a statement issued by the bank and signed by its company secretary /Legal Adviser, Oluwole Ajimisinmi.

According to the statement, the series 2 of the Bond approved by the board of the bank is to be issued for tenure of 5-7 years and is targeted at institutional investors.

Meanwhile the bank has also announced the appointment of Ademola Adebise as the Managing Director/Chief Executive Officer following the retirement of Segun Oloketuyi in September 2018. Ademola  who was initially appointed the Acting Managing Director in July after Oloketuyi proceeded on terminal leave in July 2018 assumes the new role effective, October 1, 2018.

By: Theresa Igata