Wema Bank stock gets a NGN 98.67 million insider bet

Published on 10/08/2026 at 06:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wema Bank stock is backed by H1 2026 profit after tax of NGN 131.37 billion, up 50.1 percent year over year. The NGX quote was NGN 31.00 on October 7, 2026, with market value at NGN 1.24 trillion.

WEMABANK, NGWEMABANK07, Illustration mit AI erstellt.

Wema Bank stock (ISIN NGWEMABANK07) was last at NGN 31.00 on the Nigerian Exchange on October 7, 2026, down 1.59 percent on the session. The fresh corporate signal came from CEO Moruf Oseni, who bought 3,088,288 shares worth NGN 98.67 million, according to BusinessDay in a report dated October 7, 2026.

Insider purchase meets rising earnings

The transaction gives investors a concrete measure of management commitment because the purchase was made in the open market rather than through an employee award. BusinessDay reported that the shares changed hands at a weighted average of NGN 31.95, placing the disclosed purchase value close to the latest NGX quote.

The insider move also arrived against a strong interim earnings backdrop. According to Simply Wall St, Wema Bank's unaudited profit after tax for the six months ended June 30, 2026, increased 50.1 percent year over year to NGN 131.37 billion.

H1 profit rose 50.1 percent

The same H1 2026 account showed gross earnings of NGN 415.09 billion, up 36.9 percent from NGN 303.20 billion in H1 2025. Profit before tax climbed 53.7 percent to NGN 154.56 billion, while net interest income advanced 51.3 percent to NGN 195.45 billion.

Loan growth was a key operating driver. Loans and advances reached NGN 2.12 trillion at June 30, 2026, an increase of 21.7 percent from NGN 1.74 trillion at December 31, 2025, while customer deposits rose 5.0 percent to NGN 3.45 trillion.

Stock trades below its purchase reference

The contrast between the CEO's NGN 31.95 weighted average purchase price and the NGN 31.00 stock quote gives the market a clear comparison, although it does not establish an investment recommendation. Wema Bank's reported earnings growth is strongest in net interest income and loan expansion, while higher funding costs and declining fee income remain relevant counterweights in the H1 account.

Wema Bank stock was last at NGN 31.00 on the NGX on October 7, 2026, with a daily decline of 1.59 percent. Market capitalization stood at NGN 1.24 trillion and trading volume at 667,100 shares on the same date.