Nigeria: NGX Confirms Listing of 3.156 Billion UBA Shares, Deepening Liquidity, Market Capitalisation

20 January 2026
Premium Times (Abuja)
press release

This latest influx means UBA's qualifying capital base now surpasses the N500 billion requirement by the Central Bank of Nigeria (CBN), thereby exceeding the recapitalisation minimum for banks with international authorisation.

The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc, to its Daily Official List, signalling a major enhancement of the bank's market capitalisation whilst also deepening liquidity on the capital market.

The NGX noted this in a confirmatory letter to the bank, dated 12 January 2026, and signed by Head, Issuer Regulation Department at NGX, Godstime Iwenkehai, who explained that the additional shares were listed following the successful conclusion of UBA's recent rights issuance exercise.

"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", Mr Iwenkehai stated in the letter.

Keep up with the latest headlines on WhatsApp | LinkedIn

UBA's Group Managing Director/CEO, Oliver Alawuba, who received the letter, commended the confirmation, as he noted that the move underscores robust investor confidence in the bank's capitalisation strategy and future prospects.

"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," Mr Alawuba stated.

In November 2024, the bank had raised N239 billion, which elevated its capital base to N355 billion at that time, while the recently concluded rights issue has injected an additional N158 billion, bringing the bank's total capital to N513 billion.

This latest influx means UBA's qualifying capital base now surpasses the N500 billion requirement by the Central Bank of Nigeria (CBN), thereby exceeding the recapitalisation minimum for banks with international authorisation.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

Read the original article on Premium Times.

Tagged:
Copyright © 2026 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.