Adebutu’s Neemtree Limited, SW8 Investment raise stakes in Wema Bank FY2025

Strategic shareholders of Wema Bank, Neemtree Limited, and SW8 Investment Limited increased their holdings, according to the bank’s recently published 2025 audited financial statements filed on the Nigerian Exchange.

Neemtree Limited, linked to Kessington Adebutu, founder and chairman of Premier Lotto Limited, now holds a 29.59% equity stake, up from 28.26% in the 2024 financial year.

Similarly, SW8 Investment Limited, a special purpose vehicle, raised its stake to 26.87% from 17.08%, according to the audited financial statements.

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Combined, both entities account for 56.46% of the bank’s units, making them the largest shareholders, while government-related entities hold a combined 6.23% stake.

**What the company books are saying **

According to the company’s books, strategic shareholders include Neemtree Limited, SW8 Investment Limited, and Odua Group, holding a cumulative 62.69% equity of Wema Bank on the NGX.

• A closer look shows that Neemtree Limited now holds 11,872,844,847 units, up from 6,057,090,218 units in Wema Bank’s 2024 audited statements.
• SW8 Investment Limited’s holdings also increased, swelling to 10,778,221,870 units compared to 3,659,582,311 in 2024, reflecting a significant rise in its stake.
• Meanwhile, Odua Investment Company Limited holds the least strategic stake among the trio, with 2,497,595,839 units.

Wema Bank also revealed that government-related entities own stakes in the company, with Odua Investment Company Limited—jointly owned by six Southwestern Nigerian states—holding 1.96% or 785,766,820 units of the bank.

Ogun State holds 1.54%, while Osun State’s investment vehicle, Fountain, holds 1.35%; Osun State directly owns 0.87%, and Oyo State has 0.51%, bringing the government’s collective stake to 6.23%, lower than the 8.56% recorded in FY2024.

Get up to speed

Wema Bank currently has a total outstanding share of 40,118,877,414 units on the Nigerian Exchange, which, combined with its latest share price of N26.2, gives a market capitalization of about N1.05 trillion.

• Out of the total shareholding, directors cumulatively accounted for a 0.03% stake in 2025, down from 4.57% in 2024, reflecting a significant decline in insider ownership.

The highest-ranking director shareholder is Oluwole Albert Ajimisinmi, Deputy Managing Director, with 4,648,096 units, representing 0.012% of the company.

He is followed by Tunde Mabawonku (Executive Director, 0.010%), Yusuf Kazaure (Non-Executive Director, 0.004%), and Bakare Olukayode Moriwiyu (Executive Director, 0.004%).

**What you should know **

In 2025, Wema Bank shares rose 128.75% on the Nigerian Exchange, and in 2026, they have already gained 28%.

• According to its audited financials, the bank’s earnings were driven mainly by interest income of N575 billion, up 62.4% year-on-year, generated from loans to customers and investments.
• On the non-interest side, the bank earned N75.5 billion from net fees and commissions, alongside a trading income of N8.3 billion.

At the bottom line, pretax profit stood at N221.89 billion, up 116.4% from the prior year, which after tax settled at N194.47 billion.

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