Armed robbers attack Wema Bank's office two weeks after announcing crippling revenue

Armed robbers attack Wema Bank's office two weeks after announcing crippling revenue

- Armed robbers attack Wema Bank's office on Thursday, destroying the lender's properties

- One person, identified as a motorcycle rider, was reportedly shot during the robbery

- The robbery at Wema Bank occurred two weeks after the lender announced crippled revenue

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Wema Bank branch in Okuku town, located at Osun State, was robbed on Thursday, March 11, 2021, with one person shot during the robbery attack which caused chaos in the area the lender is located.

The robbery occurred on the afternoon of Thursday. Gunshots could be heard in the video, with one person, identified as a motorcycle rider, on the ground with gunshot. It's not known if the robbers carted away money from the bank.

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But in the video seen, Wema Bank's property was badly damaged, with equipment destroyed, while the window was shattered. The armed robbers had used explosives to gain access to Wema Bank's hall according to one of the eyewitnesses on the ground.

Wema Bank told that investigation to assess the situation is currently ongoing, while efforts to get a comment from Osun State police public relations officer, Folashade Odoro proved abortive, and a text message left for her wasn't replied.

Armed robbers attack Wema Bank's office two weeks after announcing crippling revenue. Photo: @AjiOpeyemi
Armed Robbers attack Wem Bank's office two weeks after announcing crippling revenue. Photo: @AjiOpeyemi
Source: Twitter

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The robbery attack occurred two weeks after the company announced its earnings for the full year 2020. Wema Bank generated N80.85 billion last year between January to December, failing to surpass the N94.89 billion the lender generated during the same period in 2019, the bank's financials showed.

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The company also suffered a decline in operating income, having recorded N42.96 billion in 2020 full year, lower than the N44.06 billion Wema Bank reported in the corresponding period of 2019.

Profit before tax rose to N6.93 billion in twelve months last year, against the N6.76 billion recorded the same period in 2019. However, Profit for the year dwindled to N5.06 billion last year, falling below the N5.19 billion reported a year before.

Meanwhile, earlier reported the co-founder of Flutterwave, Iyinoluwa Aboyeji, spoke about his career as a tech founder without a deep understanding of tech's technicalities.

He said there are four things that aspiring entrepreneurs or tech enthusiasts must know and have to be investment-worthy.

Fakoyejo Olalekan is a Business and Financial Journalist with over three years of experience in covering finance and business activities within Nigeria and offshore. Prior to joining, he worked at Nairametrics where he wrote financial and investment analysis articles. Olalekan is a resourceful and result-driven journalist with a track record for conducting extensive research and interviews to produce articles that provide different perspectives to market activities.


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