The Nigerian Exchange (NGX) has listed 3.16 billion new UBA shares following its rights issue, injecting ₦158 billion and pushing total capital to ₦513 billion—surpassing the CBN’s ₦500 billion threshold for international banks
NGX Admits 3.16bn UBA Shares from Rights Issue: Bank’s Capital Hits ₦513bn, Exceeds CBN Recapitalisation Requirement
In a significant milestone for Nigeria’s banking sector, the Nigerian Exchange Limited (NGX) has formally admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, following the successful completion of the bank’s rights issue.
The confirmation came via a letter dated January 12, 2026, signed by Godstime Iwenkehai, Head of Issuer Regulation Department at NGX. The letter stated:
“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 N50.00 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 rights issue, priced at ₦50 per share, raised approximately ₦158 billion for UBA—further strengthening its financial position and deepening liquidity on the nation’s capital market.
UBA’s Group Managing Director/CEO, Oliver Alawuba, welcomed the NGX confirmation and highlighted the broader implications:
“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 that the additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” Alawuba stated.
The fresh capital injection builds on UBA’s earlier ₦239 billion raise in November 2024, bringing the bank’s total qualifying capital base to ₦513 billion—comfortably exceeding the Central Bank of Nigeria’s (CBN) ₦500 billion minimum requirement for banks with international authorisation.
With over 25,000 employees and more than 45 million customers worldwide, UBA operates across 20 African countries, as well as the United Kingdom, United States, France, and the United Arab Emirates. The bank offers a full suite of retail, commercial, and institutional banking services while championing financial inclusion and embracing innovative technology.
This latest capital boost positions UBA even stronger to accelerate its continental and global ambitions, reinforce market leadership, and continue delivering value to shareholders, customers, and communities across its footprint.
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