Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has simultaneously marked its 81st anniversary and the 9th anniversary of ALAT on Saturday, May 2nd, 2026.

Adopting a different approach from its grand 80th anniversary celebration in 2025, Wema Bank is set to celebrate its 81st anniversary this year by giving back to its customers. The Bank’s anniversary celebration features rewards for customers on the ALAT App in celebration of ALAT at 9 as well as rewards for Wema Bank customers at the launch event for the 5th Season of the Bank’s 5 for 5 Reward Initiative, happening on the Bank’s anniversary day, May 2nd 2026.

In line with the Bank’s 81st anniversary theme, “Your Future of Possibilities, Powered by Wema Bank”, the Bank will also rollout a specialised customer success initiative dedicated to helping different demographics of its customers to map out and build the future of their dreams. From businesses to students, working class women, creatives and more, Wema Bank will provide tailored, practical and strategic insights and support that will help these unique demographics access better opportunities, receive useful support and make accelerated progress towards meeting their goals.

Commenting on the Bank’s motive behind its approach to celebrating its 81st anniversary, Wema Bank’s MD/CEO, Moruf Oseni, said, “The world is rapidly evolving. Digital evolution and emerging technologies continue to present newer opportunities and realities. To thrive, one must be prepared to adapt where needed and ready to leverage the possibilities ahead; and this is what we want to help our customers achieve. With millions of individuals and businesses in our care, we have a deep sense of responsibility towards helping them make meaningful progress and our 81st anniversary presents the perfect opportunity for us to deepen our efforts towards fulfilling that responsibility”.

“We are building a smarter and more secure financial future for our customers, one where banking is effortlessly aligned with their goals, intelligently anticipating their needs and proactively providing the right solutions. Beyond banking solutions, we are curating opportunities, providing platforms, building an entire ecosystem engineered in the best interests of every unique Wema Bank customer. Our goal is for our customers to grow as we grow, to always be one step ahead, and to make accelerated progress towards their future of possibilities as we journey with them”.

“To every stakeholder who has been a part of Wema Bank’s 81-year journey: our investors, regulators, partners, esteemed customers and dearest employees; this anniversary is dedicated to you, and this is why we have chosen to celebrate this way. On behalf of the entire board and management of Wema Bank, I say THANK YOU for 81 historic years. We have, we are, and we will be with you, all the way. Happy 81st Anniversary to us all”, Oseni concluded.

Wema Bank has established a proven track record of empowering lives, supporting businesses and providing tailored solutions that meet real needs. From financial support to digital solutions, unique opportunities and customised service, Wema Bank continues to show that it is a Bank that truly cares, understands and is committed to helping individuals and businesses thrive and achieve their goals.

For more information on how to tap into the rewards curated by Wema Bank, visit wemabank.com

Africa’s richest man, Aliko Dangote, has announced plans to build a 650,000 barrels-per-day refinery in East Africa, mirroring the scale of his flagship facility in Nigeria, as part of a broader push to deepen industrial capacity across the continent.

Dangote made the disclosure at a high-level summit in Nairobi on Thursday, where African leaders, financiers, and industry stakeholders gathered to discuss the continent’s growing energy and infrastructure needs.

Addressing Presidents William Ruto and Yoweri Museveni, Dangote said the refinery project would depend on strong government backing and policy consistency.

“That’s why, as a group, we have now launched an initiative where, between now and 2030, we’re investing $40 billion in various fields,” he said

“Even now, I can give a commitment to the two presidents who are here that if they support the refinery, we will build an identical one to what we have in Nigeria—650,000 barrels.”

He emphasised that the proposal is still at an early stage but expressed confidence in its feasibility.

When asked about the feasibility of the project, the industrialist said it will “definitely” work, adding that “There’s nothing that can stop it.”

Push for Self-Sufficiency

Dangote used the platform to argue that Africa must move away from its long-standing dependence on imports and instead build domestic industrial capacity.

“We export raw materials, which means when you export raw materials, you are exporting jobs, and when you import, you are importing poverty because you are creating jobs out there, not here on the continent,” he said.

He stressed that industrialisation—particularly in refining, fertiliser production and petrochemicals—is critical to reversing that trend and creating jobs on the continent.

The proposed East African refinery forms part of a wider $40 billion investment plan by his group between now and 2030, targeting key sectors that underpin economic transformation.

Backdrop of Growing Fuel Deficit

Dangote’s announcement comes as the Africa Finance Corporation (AFC) warned that the continent could face an 86 million tonne fuel shortfall by 2040.

According to the AFC report presented at the summit, Africa currently imports over 70 percent of its refined fuel and spends about $230 billion annually on essential imports, including fuel, food, and industrial goods.

The report projects that fuel import demand will rise from 74 million tonnes in 2023 to 86 million tonnes by 2040—equivalent to nearly three refineries the size of Dangote’s Lagos facility.

Leaders Call for Shift in Strategy

President William Ruto echoed Dangote’s position, warning that Africa must rethink its economic model.

“Our ambitions will remain unrealised if we continue to depend on external capital whose primary interest is securing raw materials,” Ruto said, adding: “We cannot continue to export raw materials and import finished products made from them.”

The summit also highlighted vulnerabilities in Africa’s energy systems, particularly exposure to global supply shocks and infrastructure gaps across the continent.

A Broader Industrial Vision

Beyond refining, Dangote pointed to ongoing efforts to scale fertiliser production and petrochemical capacity across Africa, including plans to expand urea output and establish blending plants in underserved regions.

“With the support of the government, there’s nothing that is impossible,” he said, expressing confidence that Africa can achieve self-sufficiency in key industrial inputs.

For Dangote, the refinery proposal represents a continuation of a larger vision—to reposition Africa from a net importer to a global industrial player.

“Let us not be scared… It is possible. Africans can do it,” he said.

As discussions continue, the proposed East Africa refinery could mark a significant step toward addressing the continent’s looming fuel deficit while advancing its long-term goal of economic independence.

The Economic and Financial Crimes Commission, EFCC, says it is constrained to alert the public about increasing waves of attack on its image by criminal characters parading themselves as officers of the Commission in different guises.

In a statement by Dele Oyewale, Head, Media & Publicity and made available to The column, the EFCC said the Intelligence available to the Commission showed “that several ingenious but fraudulent means are being employed by dark characters to besmirch the reputation of the EFCC.

” For instance, there is a gang of fraudsters now operating around popular Eateries or funspots in our major cities. Their modus operandi is laying ambush for innocent youths coming out of the Eateries and harassing them on unfounded suspicions of being internet fraudsters and dispossessing them of their valuables.

” These characters usually portray the identities of authentic EFCC officers by dressing in fake uniforms and moving their victims to locations bearing fictitious resemblance to an EFCC office.

“There is also a gang of itinerant criminals harassing innocent motorists on the identities of their number plates. These ones wield dangerous weapons to compel their victims to offer them money on trumped-up accusations. There is yet another tribe of online impersonators and fraudulent content creators dramatizing fake sting operations of the EFCC with evidence of broken doors, windows and forced entrance into their premises. Such uncharacteristic portrayals of the EFCC could deceive unsuspecting members of the public into holding the Commission and its officers culpable of contrived actions of impersonators”

The agency thus enjoined public, to be circumspect in its evaluation of claims intended to drag the Commission’s image into the mud. ” The EFCC has its standard operating procedures about all its activities and appropriate channels of ventilating grievances against any operation or officer of the Commission are in place.

“While the EFCC is steadfastly pursuing its mandate of ridding the nation of economic and financial crimes and other acts of corruption, well-meaning and reform-minded Nigerians should not allow their judgment of the works of the Commission to be negatively affected by the activities of these impersonators, blackmailers and fake characters using the identities of the Commission to serve their nefarious interests” the statement concluded.