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SERAP Demands Reduction of N9.4bn Presidency Expenses, N344bn NASS Budget

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Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas “to cut the proposed budget of N9.4bn on travels, refreshment/meals, and foodstuff/catering materials for the presidency, and the proposed N344.85bn for the lawmakers, and to use the savings to address the budget deficit.”

SERAP urged Mr Akpabio and Mr Abbas “to request President Bola Tinubu to present a fresh supplementary appropriation bill, which reflects the reduced presidency budget and National Assembly budget, for the approval of the National Assembly.”

SERAP asked Mr Akpabio and Mr Abbas “to promptly disclose the detailed breakdown of the proposed National Assembly budget of N344.85bn, including the details for personnel cost, salaries and allowance of lawmakers.”

SERAP also urged Mr Akpabio, and Mr Abbas “to invite the heads of the alleged corrupt ministries, departments and agencies [MDAs] to explain the whereabouts of the missing billions of naira of public funds, as documented in the recently released 2021 audited report by the Office of the Auditor-General of the Federation.”

In the letter dated 21 December 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Any proposed unnecessary spending by the presidency and the National Assembly would amount to a fundamental breach of the Nigerian Constitution 1999 [as amended].”

SERAP said, “the proposed huge spending is neither necessary nor in the public interest, especially in the face of the country’s dire economic situation and the level of proposed borrowing to fund the 2025 budget.”

The letter, read in part: “The National Assembly has transparency obligations to disclose the details and breakdown of the proposed budget for the lawmakers. We urge you to publicly commit that the National Assembly will reduce and not increase its proposed budget of N344.85bn for 2025.”

“While the presidency budget for ‘rehabilitation and repairs of fixed assets’ in the 2024 budget was N14bn, the budget for the same item in the 2025 budget is N26bn, an increase of about N12bn.”

“Should the National Assembly and its leadership fail to reduce the unnecessary spending and tackle the systemic corruption in MDAs, SERAP would consider appropriate legal action to compel the National Assembly to discharge its constitutional oversight and fiduciary responsibilities.”

“The National Assembly seems to budget the same amounts in the 2025 budget for the same budget items in the 2024 budget.”

“It would be a grave violation of the public trust and constitutional oath of office for the members of the National Assembly to approve unnecessary spending for themselves and the presidency.”

“Many Nigerians will find it quite odd, unfair and unjust that the government and lawmakers are spending so much money on many of these items in the middle of a public borrowing crisis.”

“The proposed spending could be better allocated to improve access of Nigerians to basic public goods and services.

“Cutting unnecessary spending by the presidency and the National Assembly would show that the National Assembly can discharge its constitutional responsibility of amplifying the voices of Nigerians.”

“It will also show that the body is acting in the best interest of the people. Nigerians have a right to honest and faithful performance by their public officials including lawmakers, as public officials owe a fiduciary duty to the general citizenry.”

“Holding to account the MDAs which are reportedly responsible for the missing billions of naira of public funds would contribute to addressing the widespread and systemic corruption in MDAs.”

“In the consideration of the proposed 2025 budget, the National Assembly under your leadership has a responsibility to ensure the interest of the well-being and prosperity of Nigeria and its citizens.”

“The National Assembly also has constitutional and fiduciary responsibilities to ensure that any proposed budgets for the presidency and the lawmakers reflect the current economic realities in the country, address the debt crisis, and prevent retrogressive economic measures.”

“Persistent borrowing is neither sustainable nor fair to the Nigerian people. The National Assembly has constitutional oversight and fiduciary duties to ensure a responsible budget spending.”

“The proposed spending figures by both the presidency and the National Assembly highlight the lack of political will to cut the cost of governance.”

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Wema Bank To Host 2026 International Women’s Day Event on March 4th

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As International Women’s Day [IWD] draws near, Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has announced its 2026 IWD Grand Event, scheduled to hold on March 4th, 2026.

 

 

Inspired by the global IWD 2026 theme “Give To Gain”, Wema Bank’s 2026 IWD event is centred on the topic “When Women Gain, We Grow”, spotlighting not only the importance of giving to women but also the impact of each effort towards this cause, with the ultimate goal of promoting a culture of supporting and celebrating women.

Announcing the event, Wema Bank’s MD/CEO, Moruf Oseni, reiterated the Bank’s commitment to continue pulling its weight in the promotion of women inclusion. According to him, “Wema Bank has never been one to pay lip service and when it comes to gender inclusion; we walk the talk with pride. A society where women are left out is one that is crippled, and as a Bank, we have made it a priority to never relent in providing tailored opportunities for women, celebrating their growth and supporting their journey, towards building a society where every woman can thrive. This was the idea behind the launch of our women-focused proposition, SARA by Wema, in 2019 and this is the inspiration behind all we do as a Bank towards promoting the 5th Sustainable Development Goal [SDG], gender equality”.

“This year’s IWD theme is quite personal to us because as a Bank that continues to give to women, we have seen firsthand the unique potential that lies within women both personally and professionally. As such, we have decided to dedicate this year’s celebration towards reminding the world of the countless ways we can give to women, and why it is not merely an option but a necessity. This year for us, is about impact—spotlighting, celebrating and encouraging it. Our goal is for every person that joins us for this grand event to be positively transformed in mindset and in action, in the hope that more priority will be given to supporting and giving to women both in the little things we do on a daily basis and in the large-scale efforts; as we collectively bridge the gap in gender equality”, Oseni concluded.

Wema Bank’s 2026 IWD event will convene top women across diverse industries and sectors, as well as “everyday” women still trying to navigate life in the face of prevailing realities, providing a platform for women from all walks of life to network, share valuable insights, access viable opportunities and assess shared versus contrasting realities, all towards showcasing how much impact is generated when individuals, institutions and societies give to women.

Among the highlights of Wema Bank’s upcoming IWD event are the SARA Gives to Empower Her Award which promises grants in support of women who have given and made impact on other women; the employee-focused He For She Award which recognises male employees of the Bank who have given to women beyond financial support; the Wema Knight Gives initiative through which the Bank’s staff will give back to women across Nigeria; and the launch of the Wema Bank Girl Child Journal, a reflective journal that collates real-life insights and words of advice for the girl-child from the perspectives of 80 key contributors across different spheres of life.

Anyone interested in attending the event physically or virtually is encouraged to register at wemabank.com/iwd.

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Wema Bank Celebrates Valentine’s Day with “Evolution of Love” Campaign for Couples, Singles, and Friends

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Following the launch of “ALAT: The Evolution”, Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has launched its 2026 Valentine’s campaign tagged “Evolution of Love, powered by Wema Bank”.

 

Inspired by the “evolution” theme of its upgraded ALAT app, Wema Bank launched the “Evolution of Love” campaign with the goal of celebrating different forms of love experienced by customers, and how they have evolved over time. From self-love to friendship, romantic love to family, this campaign introduces a fresh twist to Valentine’s, decentralising romantic love and creating a space for every Wema Bank customer this season of love.

“Evolution of Love, powered by Wema Bank” calls on new and existing Wema Bank customers across 4 categories: Singles [self-love], friends [friendship], married couples and those getting married this February [romantic love]. While the gifts vary across each category, the requirement is the same—create a Love Goal on the ALAT App and submit a 1-minute video on any social media platform sharing how your love journey has evolved over the years, for access to gifts ranging from cash to spa vouchers, vacations and expense-paid getaways, and for one couple getting married in February, a special performance at the wedding from a celebrity artiste, courtesy of Wema Bank.

Announcing the campaign, Wema Bank’s MD/CEO, Moruf Oseni, gave further insights into the Bank’s approach to celebrating Valentine’s this year. According to him, “Love is central to the delivery of true customer-centric service, and as a Bank that prides itself on being customer-centric, this is reflected in the thought, intentionality and commitment we put into all we do at Wema Bank. It has always been clear how much we care about our customers and this year, we decided to celebrate the journey of love across different categories that reflect the different experiences and realities of our customers, from friends and couples who have grown together over the years to lovers taking the bold step of marriage and even singles because self-love is crucial”.

“This Valentine’s, we chose to acknowledge the beauty of every love journey, and we are inviting all new and existing customers who have a story to share. For the friends and singles, our goal is to promote true friendship and self-love. For families and married couples, our goal is to strengthen bonds by reminding them of how far they have come. For those intending to get married, we are adding one more memorable touch to their wedding with a special artiste performance. Our ultimate goal is for every Wema Bank customer to feel loved this season and beyond,” Oseni concluded.

Anyone interested in submitting their entry is encouraged to make a 1-minute video sharing their love journey and where applicable, feature the person with whom their love has evolved. All submissions are to be posted on any social media platforms using #ALATEvolutionofLove and tagging @alat_ng and @wemabank.

To be eligible, customers are expected to activate SAW, the Voice Banking virtual assistant on the upgraded ALAT App, create a personal or group goal on the app with the name “Love Goal”, fund the goal and transact with their ALAT/Wema card between February 1st – February 10th.

More details on qualification criteria are available at wemabank.com/love

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Wema Bank Launches the Upgraded Version of ALAT Banking App

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Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has launched the upgraded version of its flagship digital banking platform, ALAT by Wema. Designed as the next phase in digital banking, the upgraded version of ALAT delivers a smarter, faster, and more intuitive experience, reinforcing Wema Bank’s leadership in technology-driven financial services.

 

 

Tagged ALAT: The Evolution, the upgraded version represents a significant advancement in how customers interact with their bank. It enables seamless banking through intelligent features such as voice banking (called SAW), which allows customers to carry out banking activities using natural voice commands, reducing friction and improving accessibility. It also introduces Tap and Pay for quick, secure, and convenient contactless transactions, alongside uptime prediction that enhances transparency, reliability, and confidence around service availability. Together, these innovations are designed to simplify everyday banking while anticipating customer needs in real time, reinforcing Wema Bank’s commitment to trust, efficiency, and customer-centric digital experiences.

Announcing the upgraded version, the Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said, “ALAT: The Evolution is more than an upgrade. It is a clear demonstration of our commitment to redefining digital banking in Africa. By understanding the future of banking and listening closely to our customers, we have upgraded ALAT by Wema to a digital banking platform that is smart, intelligent and dependable. This evolution reinforces our promise to deliver innovation that genuinely enhances how people live, work, and transact everyday.”

He added that migrating to the upgraded app is seamless. “Existing customers can simply visit the Google Play Store or Apple App Store to update their existing ALAT app and sign-in with their existing login details (All their account information and transaction history remain intact on their profile and they will also gain access to new features that make banking faster, more intuitive, and more reliable). For new customers, all they have to do is visit the Google Play Store or Apple App Store to download ALAT by Wema app and click the Get Started icon to onboard seamlessly.

Speaking on the technology in the upgraded ALAT by Wema, Mr. Olusegun Adeniyi, Chief Digital Officer at Wema Bank, explained, “With ALAT: The Evolution, we set out to enhance not just functionality but the overall banking experience. By integrating voice banking, contactless payments, and predictive reliability, we are delivering a platform that is built on powerful technology and responds intelligently to customer needs. This upgrade reflects our long-term digital vision to create a digital bank that is adaptive, intuitive, and consistently available.”

Built on speed, intelligence, and user-centric design, ALAT: The Evolution redefines everyday banking through intuitive features such as voice-enabled transactions, contactless payments, and predictive service reliability. Designed to anticipate customer needs in real time, the platform delivers a smarter, more seamless, and dependable digital banking experience that reflects Wema Bank’s vision for the future of finance.

With the upgraded version of ALAT, Wema Bank continues to strengthen its position as a digital-first institution, delivering innovative solutions that empower individuals and businesses to bank with confidence in an increasingly digital economy.

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