The Nigerian Exchange Limited has listed an additional 3.16 billion ordinary shares of United Bank for Africa Plc on its daily official list, marking a significant boost to the bank’s market capitalisation and further strengthening liquidity within the Nigerian capital market.

The development was conveyed to the bank in a confirmatory letter dated January 12 and signed by the Head of the Issuer Regulation Department at Nigerian Exchange Limited, Godstime Iwenkehai. The exchange explained that the additional shares were admitted following the successful completion of UBA’s recent rights issue 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,” Iwenkehai stated in the letter.

The letter was received by UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, who welcomed the confirmation, describing it as a strong indication of investor confidence in the bank’s capitalisation plans and long-term outlook.

“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.

“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,” he added.

In November 2024, United Bank for Africa had earlier raised N239 billion, a move that increased its capital base to N355 billion at the time. The recently concluded rights issue subsequently injected an additional N158 billion into the bank.

With this latest capital inflow, UBA’s total capital has risen to N513 billion, placing the bank comfortably above the N500 billion qualifying capital requirement set by the Central Bank of Nigeria for banks operating with international authorisation.

The new capital position means UBA has successfully exceeded the minimum recapitalisation threshold prescribed by the Central Bank of Nigeria, reinforcing its standing as one of Nigeria’s leading international banking institutions.

United Bank for Africa remains one of the largest employers in Africa’s financial services sector, with a workforce of about 25,000 employees across the group and a customer base exceeding 45 million people worldwide.

The bank operates in 20 African countries as well as in the United Kingdom, the United States of America, France and the United Arab Emirates, where it provides retail, commercial and institutional banking services.

UBA is also recognised for its leadership in financial inclusion across the continent, as well as its continued investment in cutting-edge technology to enhance service delivery and expand access to banking services.