The Nigerian Exchange Limited (NGX) has officially listed an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc on its Daily Official List, marking a significant boost to the bank’s market capitalisation and deepening liquidity in Nigeria’s capital market.
In a letter dated January 12, 2026, and signed by Godstime Iwenkehai, Head of Issuer Regulation at NGX, the Exchange confirmed that the shares were admitted following the successful completion of UBA’s recent rights issue.
“Following the submission of all post-approval documents, please be informed that United Bank for Africa Plc’s Rights Issue of 3,156,869,665 ordinary shares of 50 kobo each at ₦50.00 per share on the basis of one new ordinary share for every 13 ordinary shares held were formally listed on the Daily Official List of Nigerian Exchange Limited (NGX) on Monday, 12 January 2026,” the letter stated.
UBA’s Group Managing Director/CEO, Oliver Alawuba, welcomed the confirmation, describing it as a reflection of strong investor trust in the bank’s strategy.
“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. Needless to say, the additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” Alawuba said.
Strengthened Capital Base
UBA had earlier raised ₦239 billion in November 2024, which lifted its capital base to ₦355 billion. The latest rights issue injected another ₦158 billion, bringing the bank’s total capital to ₦513 billion.
With this increase, UBA’s qualifying capital base now surpasses the ₦500 billion minimum requirement set by the Central Bank of Nigeria (CBN) for banks with international authorisation.
This milestone not only secures UBA’s compliance with regulatory recapitalisation standards but also positions the bank more firmly for global competitiveness.
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