It may interest many to know that the founder of 0resent day Wema Bank Nigeria Plc., the late Chief Mathew Adekoya Okupe-Agbonmagbe is the biological father of Dr. Doyin Okupe.
He set up the financial insitution after several years of operating as a government certified money lender and increasing pressures from clients to expand the reach and scope of the flourishing business; he obtained a banking licence under the name of AGBONMAGBE BANK in May 1945. It was the first indigenous Bank in Nigeria. The bank had seven 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 were not left out. 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 and the longest surviving indigenous Bank in Nigeria
Chief Okupe died on November 1 1984 at the age of 86 years.
He had 10 wives and 40 children. Doyin, a medical doctor, is number 17.
Additional report with Doyin Okupe
