KEY POINTS

• Adebutu’s Wema stake rises to $90 million.
• Bank shares up 146 percent year-to-date.
• Digital banking strategy drives growth.

As the bank’s shares keep going up on the Nigerian Exchange, Kessington Adebutu’s stake in Wema Bank Plc is now worth about $90 million more. Adebutu is a Nigerian gaming tycoon who started Premier Lotto.

As shares go up, Adebutu’s ownership stake climbs

Adebutu’s investment company, Neemtree Limited, controls 28.26 percent of Wema Bank. There are more than 6 billion shares here. Investors have been quite interested in that asset, which has gone up in value by N58.45 billion ($38.07 million) in the last 14 weeks.

These gains are on top of the $13.77 million increase that was announced earlier this year. The two rallies that happened one after the other have made Adebutu one of the most influential private investors in Nigeria’s financial sector.

Wema Bank’s move to digital is working out

Wema Bank has grown thanks to ALAT, Africa’s first fully digital bank. Younger, tech-savvy Nigerians like it a lot. Even though its competitors are having trouble with the economy and currency changes, the bank is one of the most competitive in the sector since it concentrates on digital services.

Wema’s stock price on the NGX has gone up 75 percent since the end of May, from N12.8 ($0.0083) to N22.45 ($0.0146). The surge has lifted the lender’s market value above $310 million, making it one of the best-performing Nigerian bank stocks in 2025.

Adebutu’s money is growing

Adebutu has gained a lot from the increase. At the end of May, his stock was worth N77.53 billion ($50.5 million). Now, it is worth N135.98 billion ($88.58 million). This shows that Wema’s digital-first strategy has worked for shareholders.

So far this year, performance is better than that of peers

So far in 2025, Wema Bank has returned almost 147 percent of the money that investors put in. If you had placed $100,000 in at the start of the year, it would be worth around $246,700 now.

The achievement illustrates that digital banking is growing more important in Africa and makes Adebutu look like an investor who is ready to take chances in both gaming and finance.