Kayode Tokede highlights Wema Bank Plc's remarkable transformation, showcasing how the financial institution has redefined relevance in Nigerian banking by seamlessly blending longevity with innovation. Achieving 80 years in today's dynamic world is a significant accomplishment, but Wema Bank has not only survived but thrived, evolving and leading through constant change. The bank's journey reflects bold and visionary decisions driven by culture, powered by technology, and executed by dedicated individuals committed to building something exceptional.

Oluwole Ajimisinmi, Deputy Managing Director of Wema Bank, recalls joining the institution in 2009 during a complex period. As Company Secretary and Legal Adviser, he encountered a system burdened by inertia and neglect, a stark contrast to the vibrant bank it is today. He remembers the outdated facilities and a workforce that had grown weary. Despite the challenges, Wema Bank retained loyal clients like Toyota, demonstrating the brand's enduring value and potential for rebuilding.

The new management team, including Ajimisinmi, Segun Oloketuyi, Ademola Adebise, and Taiwo Adeniji, recognized the need for comprehensive renewal. Their strategy involved shedding the bank's legacy image and reengineering its operations, starting with a generational shift in the workforce. In 2009, the average age of Wema Bank staff was over 48. The leadership made the difficult decision to rejuvenate the workforce by attracting younger talent and betting on their potential. Today, the average staff age is under 30, fostering a culture that drives Wema's forward momentum.

To complement this mindset shift, Wema Bank initiated an operational revolution, revamping its core banking application and overhauling policies and processes. The establishment of a Program Management Office (PMO) played a crucial role in modernizing the bank's infrastructure. A turning point came in 2017 with the launch of ALAT, Nigeria’s first fully digital bank, which not only introduced a new product but also transformed the perception of the institution.

ALAT symbolized Wema Bank's capacity for reinvention. The bank recently introduced ALAT Xplore, a platform for teenagers and young adults to begin their financial journeys early, future-proofing the institution. Wema Bank also invested in cultural transformation, establishing its Corporate University, Purple Academy, in 2020 and strengthening its Learning and Development team. The academy has improved performance across the board and was recently shortlisted for the 2025 Global CCU Awards.

Ajimisinmi expresses pride in Wema Bank's transformation, emphasizing the resilience and dynamism of the institution. The bank's financial turnaround is evident in its growth from a N66 billion negative capital and a N37 billion overdrawn account with the Central Bank of Nigeria in 2009 to recording N102 billion profit before tax in 2024, a 133.84 per cent increase on the previous year.

Wema Bank's success is attributed to visionary leadership that believed in the potential of a legacy brand to change its story, empower young leaders, and embrace innovation. Ajimisinmi emphasizes that the focus was not solely on financial gains but on preserving Wema's legacy and serving the generations who have contributed to its success. The bank's rebirth is characterized by resilience, impactful results, and a future that is already unfolding from the inside out.