has unveiled the fifth edition of its 5for5 Reward Scheme, with over N170 million set aside to reward customers and promote digital banking adoption across Nigeria.
The campaign, themed “Evolve with Wema 5for5,” introduces a merit-based reward structure aimed at encouraging financial inclusion and rewarding customers based on their banking activities. The initiative targets youths, women, and customers in the mass market segment.
According to the bank, young customers who fund their accounts with at least N5,000 and complete a minimum of five transactions monthly will qualify for rewards, including tuition support and electronic gadgets. Female entrepreneurs who maintain at least N50,000 in their accounts and complete 25 transactions or more will be eligible for the #SupportHerHustle grants and wellness packages.
The mass market category will continue to enjoy daily and monthly cash rewards, while the most active and consistent customer will receive a grand prize of N5 million.
Managing Director and Chief Executive Officer of , , said the new season reflects the bank’s commitment to transparency, customer empowerment, and the growth of digital banking in the country.
He noted that the revised structure was designed to promote positive financial habits while ensuring fairness and compliance with regulatory standards.
Oseni added that since the reward scheme was introduced in 2019, more than 7,000 customers have benefited from over N300 million in rewards. He explained that linking the initiative to ALAT, *945# USSD banking, and Wema Bank debit cards is part of efforts to bring more Nigerians into the formal financial system.
The bank further stated that the “Evolve with Wema” campaign is intended to strengthen its presence in the digital banking space by encouraging customers to consistently fund their accounts and actively use mobile and USSD banking channels.
With over N170 million expected to be distributed before the end of the year, the latest edition of the 5for5 Reward Scheme is regarded as one of the bank’s biggest retail banking campaigns yet, reinforcing its 81-year history of innovation and customer-focused banking services.
