NGX admits 3.16bn UBA shares after rights issue, lifting the bank’s capital to ₦513bn and exceeding the CBN recapitalisation requirement

Nigerian Exchange Limited has admitted an additional 3.16 billion ordinary shares of United Bank for Africa Plc to its Daily Official List, following the successful completion of the bank’s rights issue that has lifted its capital base to ₦513 billion and placed it above the Central Bank of Nigeria’s recapitalisation threshold.

Also read: NGX confirms listing of 3.156billion UBA shares, deepening liquidity, market capitalisation

The admission was confirmed in a letter dated 12 January 2026 and signed by Godstime Iwenkehai, Head of the Issuer Regulation Department at the Nigerian Exchange Limited.

The letter stated that 3,156,869,665 ordinary shares of 50 kobo each, issued at ₦50 per share on the basis of one new share for every 13 held, were formally listed on the exchange on Monday.

The rights issue raised approximately ₦158 billion, strengthening UBA’s balance sheet and deepening liquidity in the Nigerian capital market.

The new listing follows the bank’s earlier ₦239 billion capital raise in November 2024, bringing its total qualifying capital to ₦513 billion.

That figure comfortably exceeds the Central Bank of Nigeria’s ₦500 billion minimum requirement for banks with international authorisation, placing UBA in a strong regulatory and competitive position as the recapitalisation exercise reshapes the banking landscape.

The Group Managing Director and Chief Executive Officer of United Bank for Africa Plc, Oliver Alawuba, described the development as a powerful vote of confidence from investors.

“We welcome the formal confirmation from NGX on the listing of our rights issue shares. This successful transaction reflects strong investor confidence in UBA’s financial strength, governance and growth strategy,” Alawuba said.

He added that the new capital would support the bank’s continental and global ambitions and enhance its capacity to deliver sustainable value.

“The additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” he said.

United Bank for Africa operates across 20 African countries as well as the United Kingdom, United States, France and the United Arab Emirates, serving more than 45 million customers with a workforce of over 25,000 staff.

The bank provides retail, commercial and institutional banking services and has positioned itself as a major driver of financial inclusion and digital innovation across its footprint.

Also read: UBA, GTBank, 14 other Nigerian banks meet CBN recapitalisation rules early

Market analysts say the NGX admission of the new shares not only strengthens UBA’s capital structure but also sends a strong signal of stability and preparedness at a time when Nigeria’s banking sector is undergoing one of its most consequential regulatory transitions in decades.