₦airaland Forum

Shikena:
We need more of this.

We have so-called Omoluabis & other Nigerians who have never heard of Western Nigeria Finance Corporation (WNFC) established in 1958. WNFC was responsible for the creation of several notable businesses, including Epe Plywood, Premier Hotels, and the Western Nigeria Development Corporation (WNDC). These ventures contributed to the growth of the region's economy and provided employment opportunities for its residents.

Western Nigeria Development Corporation (WNDC): A holding company that oversaw various subsidiaries and investments.
Leith Ross Limited: A textile manufacturing company.
Western Nigeria Printing Corporation: A printing and publishing company.
Western Nigeria Transport Company: A transportation company.
Western Nigeria Flour Mills: A flour milling company.
Western Nigeria Investment Company: A holding company for various investments.

These companies played a significant role in the economic development of the Western Region of Nigeria and contributed to the region's industrialization. Odua Investments is a continuation of WNFC. It was created to manage the assets that WNFC had accumulated over the years, and it has continued to play a significant role in the Nigerian economy.

The equivalent of WNFC (Western Nigeria Finance Corporation) in Eastern Nigeria was the Eastern Nigeria Development Corporation (ENDC). Established in 1956, ENDC played a similar role in promoting economic development and investment in the Eastern Region.

Just like WNFC, ENDC was involved in various sectors, including agriculture, industry, and infrastructure. It established companies and supported projects aimed at diversifying the region's economy and improving the livelihoods of its people.

In Northern Nigeria was the Northern Nigerian Development Corporation (NNDC). Established in 1956, NNDC played a similar role in promoting economic development and investment in the Northern Region.

Just like its counterparts in the West and East, NNDC was involved in various sectors, including agriculture, industry, and infrastructure. It established companies and supported projects aimed at diversifying the region's economy and improving the livelihoods of its people.

delpee:
WEMA has existed for so long. Maybe you're young so you may not know.

MadPolitician:
Don't come at me with that rubbish about being too young, i might already be in secondary school when you were born. You guys like to rewrite history shamelessly. I don't know why you all like to be registered as the first in everything, even if you are not the first.

I laid off because i presumed that the op was trying to use the fact that WEMA was resurrected after it collapsed several times, to burnish the point that the bank is the "oldest indigenous" bank still existing.

Otherwise i would have liked you to talk about The African Continental Bank formed by Nnamdi Azikiwe. ACB was doing well, untill it was intentionally destroyed by the military administrators. Was WEMA formed before ACB?

brain54:
Oldest bank in Nigeria is first bank...

Oldest indegenous is wema.

Wema bank was the first commercial bank account I operated(my first ever was a micro finance bank)

It was my school account.

I hated the bank so much because of their archaic ways of transaction.

I later abandoned the account when other new generation banks started coming to the vicinity of my school. I still have some money abandoned in that account sef, although not much. (maybe one day I will walk in and request to close the account. Even though I can't remember the account number again. Maybe the money would have yielded a sizable interest . Very unlikely though)

I don't know if they changed or modernized their banking systems. As I can't remember using that bank ever since. But I just have the impression and bias they haven't.

Ironically, I have hardly had any transaction carried out with the bank since then.

And when I pass through any branch the thought that comes to my mind is "people still use this bank"?

I guess they do!

CyrusVI:


Truly Inspirational. Although, they still run the bank like we are still in 1940

Everything about is screams Old-fashioned

Great one from Chief Matthew. Pioneers are the biggest visionary people around. They bring the future to present

MadPolitician:
Rewriting history as usual. WEMA bank of yesterday is the oldest Nigerian bank? No strength for una wahalaa
Enjoy

Racoon:
https://www.facebook.com/share/p/NxzoMFhoWmY8PMX4/?mibextid=oFDknk

MadPolitician:
Don't come at me with that rubbish about being too young, i might already be in secondary school when you were born. You guys like to rewrite history shamelessly. I don't know why you all like to be registered as the first in everything, even if you are not the first.

I laid off because i presumed that the op was trying to use the fact that WEMA was resurrected after it collapsed several times, to burnish the point that the bank is the "oldest indigenous" bank still existing.

Otherwise i would have liked you to talk about The African Continental Bank formed by Nnamdi Azikiwe. ACB was doing well, untill it was intentionally destroyed by the military administrators. Was WEMA formed before ACB?

Nelsondiego69:
so what's special about them??

YoungLionken:
And this is ignorant me thinking WEMA bank is one of the new banks in Nigeria ! WEMA is still far better than banks like Zenith bank, in terms of services..

And the CEO has three different names from different tribes in Nigeria. I really think intertribal marriage should be encouraged, to further strengthen our unity (at the long run)..

Nice update my dear OP...