₦airaland Forum

Late Chief Mathew Adekoya Okupe Agbonmagbe after several years of operating as a government certified money lender and because of increasing pressures from clients to expand the reach and scope of the flourishing business, obtained a banking licence under the name of AGBONMAGBE BANK in May 1945.

It was the first indigenous Bank in Nigeria.
The bank had 7 branches: Ebute metta, Mushin,Ifo, Sagamu, Ago-iwoye, Ijebu- igbo and Zaria.

Most of its customers were high net worth Traders and forwarding agents of food and animals between the north and Lagos, Kolanuts traders Timber merchants and exporters. .
It became Wema Bank through acquisition by Wema Board in 1969.

In 1987 the bank transformed to WEMA BANK PLC as it is known till date. .
The only and longest surviving indigenous Bank in Nigeria.

Chief M.A. Okupe died on November 1 1984 at the age of 86 years.
He had 10 wives and 40 children.

See more beautiful photos of this man
https://www.praizenews.com/meet-late-chief-mathew-adekoya-founder-of-first-indigenous-bank-in-nigeria/

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Omo Oduduwa. No chest beating, just setting records silently.

But what was he doing with 10 wives? Was he the only one that had a working dicck then?

This is very inspiring.

Yoruba Amaka

Ok o. We should meet a dead person.

10 wives? Mad oh...

Thanks, short and straight to the point write up.

May their souls Rest In Peace