Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has been named Nigeria’s Best Digital Bank for Consumers 2026 by Euromoney, one of the world’s most respected authorities on financial services and banking excellence.

The prestigious recognition affirms the Bank’s sustained leadership in digital innovation, customer experience and financial inclusion, reinforcing its position as one of Nigeria’s leading technology-driven financial institutions.

Presented annually, the Euromoney Awards for Excellence celebrate banks that are redefining financial services through innovation, measurable impact and outstanding customer value. In selecting Wema Bank for the award, Euromoney recognised the Bank’s successful digital transformation journey, its continuous innovation through ALAT, Africa’s first fully digital bank, and its unwavering commitment to delivering simpler, smarter and more accessible banking experiences for customers.

Commenting on the recognition, the Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, said: “This award is a strong validation of the deliberate investments we have made over the years to build a truly digital bank that puts customers at the centre of everything we do. Innovation for us has never been about technology for its own sake. It has always been about creating solutions that make banking easier, faster, safer and more rewarding for every customer.

“From pioneering Africa’s first fully digital bank with ALAT to continuously evolving our digital capabilities, we have remained focused on anticipating customer needs and building experiences that create real value. We are honoured by this recognition from Euromoney and inspired to continue pushing the boundaries of innovation as we shape the future of banking in Nigeria.” He concluded.

A key milestone in Wema Bank’s digital transformation has been the evolution and upgraded version of ALAT, which introduced next-generation capabilities including voice banking, tap-to-pay functionality, personalised financial services and integrated investment opportunities through strategic partnerships. Together with faster digital onboarding, AI-powered fraud monitoring, intelligent customer personalisation and an expanding agency banking network, these innovations continue to enhance customer experience while extending financial services to more Nigerians.

Euromoney also recognised Wema Bank’s ability to leverage technology to build deeper customer relationships through data-driven personalisation, enabling customers to receive tailored recommendations across savings, investments and credit products based on their financial needs and behaviour.

For over eight decades, Wema Bank has remained at the forefront of innovation in Nigeria’s financial services industry. As the pioneer of Africa’s first fully digital bank, the Bank continues to redefine banking by combining technology, customer insight and innovation to deliver seamless, secure and inclusive financial solutions for individuals, businesses and communities.

The Euromoney recognition further reinforces Wema Bank’s commitment to building the future of banking through continuous innovation, operational excellence and customer-centric solutions that create lasting value.

Oil prices rose by more than five per cent on Wednesday as President Donald Trump declared that the interim agreement with Iran on peace was over.

Trump said this following U.S. strikes on Iran in reaction to attacks on three ships in the Strait of Hormuz.

The price of Brent crude oil jumped 5.6% to more than $78 a barrel. U.S. benchmark crude surged 5.8% to $74.55 a barrel.

“For me, I think it’s over,” Trump responded when asked about the status of the ceasefire.

“It’s just a waste of time dealing with them,” he said while describing Iranian leaders as “sick” and “vicious, violent people.”

He spoke ahead of the two-day NATO summit in Ankara, Turkey.

Crude prices had declined recently from spikes well above $100 a barrel to around the levels they were at before the war with Iran began in late February.

Iran and the United States agreed as part of their interim deal on ending the war to allow ships to pass through the Strait without paying charges for 60 days.

But Tehran has insisted it must control the vessels’ routes and vowed to later charge fees for passage.

The ships attacked Tuesday all appeared to be using a route close to Oman’s shore, rather than one ordered by Tehran.

The upsets for oil markets have coincided with waves of worries that the craze for artificial intelligence-related shares has pushed prices past the amount of gains in productivity and profits likely to result from massive investments in computer chip production capacity and data centers.
Analysts said the latest developments have significantly increased uncertainty over the future of negotiations and heightened concerns about stability in the global oil market.

The Chief Commodities Analyst at SEB, Bjarne Schieldrop, said the breakdown of talks had cast serious doubt on the planned 60-day negotiation process, adding that oil prices closer to $80 per barrel better reflect current market conditions.

The Supreme Court has directed the immediate release of the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited, GHL, bringing a major legal dispute involving First Bank of Nigeria to a close.

In a unanimous judgment delivered on Friday, a five member panel of the apex court ruled that the matter was purely contractual and did not qualify as an admiralty dispute.

As a result, the court held that the Federal High Court lacked the jurisdiction to hear the case.

The Supreme Court consequently overturned the earlier judgment of the Court of Appeal and upheld General Hydrocarbons’ appeal.

The panel, comprising Justices Uwani Musa Abba Aji, Adamu Jauro, Emmanuel Agim, Tijjani Abubakar, and Habeeb Adewale Abiru, ordered the Chief Registrar of the Court of Appeal and the Admiralty Marshal to hand over the crude oil aboard the FPSO Tamara Tokoni to GHL without delay.

The ruling effectively settles the legal battle between General Hydrocarbons and First Bank of Nigeria over ownership and control of the crude cargo stored on the floating production, storage, and offloading vessel.