Connect with us

News

Wema Bank Makes Nine Millionaires as 5 for 5 Promo Ends

Published

on

L-r: Niyi Adeleke, Monitoring and Enforcement Officer, National Lottery Regulatory Commission (NLRC); Mrs. Oyinkansola Kusamotu, Senior Legal Officer, Lagos State Lotteries and Gaming Authority; Mrs. Susan Onwuka, Head, Lagos Office, Federal Competition and Consumer Protection Commission (FCCPC); Ademola Adebise, MD/CEO, Wema Bank; Mrs. Nkiru Onuzulu, Deputy Director/Coordinator, NLRC, and Dotun Ifebogun, Divisional Head, Retail & SMEs, Wema Bank, at the Grand Finale of the just concluded Wema Bank 5 for 5 Promo in Lagos recently.
Kindly share this post

Wema Bank, innovative financial institution, has again restated its commitment to giving back to society as it successfully created nine new millionaires with its ‘5 for 5 Promo’, which ended with a final draw last Friday.

The final promo draw held at the Wema Bank Purple Academy in Ilupeju, Lagos, was overseen by officials of the National Lottery Regulatory Commission (NLRC), the Federal Competition and Consumer Protection Commission (FCCPC), and Lagos State Lotteries & Gaming Authority (LSLGA).

The promo, which commenced on July 1, 2021, has produced 639 winners from the country’s six geo-political zones, with N31.5 million handed out to customers. These include nine N1 million winners, 180 N100,000 winners, and 450 N10,000 winners.

Abubakar Ayuba, a trader using the bank’s digital platform, ALAT By Wema, emerged as the final draw winner. He was informed of his good fortune via phone during the event. The overjoyed Ayuba expressed his delight through an interpreter who spoke Hausa and thanked Wema Bank for the gesture.

Speaking at the event, the Managing Director/CEO of Wema Bank, Ademola Adebise, expressed excitement about the loyalty reward promo created as part of activities marking the bank’s 77th anniversary.

“For the past nine months, we have rewarded our loyal customers for their patronage and support. Today we will be concluding the campaign by having our ninth and final draw. After today’s draw, 639 loyal Wema Bank customers will have received total cash prizes of N31.5 million, this reinforces our commitment to empowering lives” Adebise said.

The event’s highlight was the compelling testimony of Chigozie Nweke, a petty trader and one of the N100,000 winners in the December 2021 draw at the grand finale. She had invested her prize money in the yam business she started in December and scaled the business massively that by April 7, she took delivery of tubers of yam from the northern part of the country worth over N2 million.

“I was struggling to start yam trading, and I could not register with the yam seller’s union. Wema Bank gave me N100 thousand; I paid the union money, paid my tithe, and put the rest in the business.

“It has not been easy, but as I speak to you, yesterday they brought yam that is more than N2 million for my business. I want to say thank you so much, Wema Bank,” Chigozie stated.

Reacting to the testimony, the Wema MD said, “What we have seen today goes beyond supporting our customers. The testimony of the woman who started the yam business is very touching for us. We believe that this aligns with our aspirations, basically to support our customers to take them to the next level”.

Commenting, the Senior Legal Officer, Lagos State Lottery and Gaming Authority, Mrs. Oyinkan Kusamotu, expressed satisfaction with the integrity of the 5 for 5 Promo. “The Wema Bank Promo has been excellent. I’ve seen how transparent they are. I think they are impacting lives. They are doing a lot of good, especially considering the economic situation,” she said.

The Nigeria Lottery Regulatory Commission representative, Mrs. Nkiru Onuzulu, spoke in the same vein and commended the bank for the lives it has touched with the 5 for 5 Promo. “We know how the country is. Somebody getting N1 million, we all know what that means, and all the draws and processes have been transparent.

“I am happy to say that there has not been any negative report. Wema Bank has delivered on its promises, and today more winners will emerge. So, the NLRC wishes them well,” Onwuru said.

Speaking also, Dotun Ifebogun, Divisional Head, Retail & SMEs, Wema Bank, expressed satisfaction with the result and impact of the promo.

The’ 5 for 5 Promo’ is one of the many ways Wema Bank is sustainably touching the lives of loyal customers and giving them a great sense of inclusion.

Adebise emphasized this, concluding that “we are going into season 2, which will bring even better support for our customers.

It will be around the usage of our platforms which is also in line with our financial inclusion strategy and sustainable goals of supporting women and rewarding our teeming customers for their loyalty to our brand.

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

UK Appoints Peter Vowles as British High Commissioner to Nigeria

Published

on

Kindly share this post

The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


Kindly share this post
Continue Reading

News

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

Published

on

Kindly share this post

World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


Kindly share this post
Continue Reading

News

PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

Published

on

Kindly share this post

As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


Kindly share this post
Continue Reading

Trending