United Bank for Africa has raised N178.3 billion through a rights issue, pushing its capital base above the N500 billion threshold required for Tier 1 banks with international licenses.

The bank announced the successful conclusion of the rights issue in September 2025.

This latest capital raise follows a previous N239 billion raised in November 2024, which had increased UBA’s capital to N355.2 billion.

UBA disclosed that its rights issue, which closed on Friday, 19 September 2025, received 6,404 valid acceptances for a total of 3,566,081,624 shares, valued at N178.3 billion.

Of these valid applications, 6,399 were standard rights issue subscriptions, while 5 came from traded rights, totaling 10,462 shares.

Invalid applications during the rights issue totaled 568,666,066 shares, valued at N28.43 billion, bringing the overall total of valid and invalid applications to 4,134,747,690 shares.

Full acceptances came from 6,293 submissions covering 453,578,211 shares, while partial acceptances accounted for 106 applications for 135,274,777 shares.

The traded rights segment included 5 NGX transactions during the acceptance period, representing 10,462 shares valued at N523,100.

UBA had previously raised N239 billion in November 2024, increasing its capital base to N355.2 billion at the time.

With the recent N178.3 billion raise, the bank has now surpassed the Central Bank of Nigeria’s N500 billion recapitalization requirement for international banks, though official confirmation is still awaited.

This milestone positions UBA among the first banks to meet the new capital rules ahead of the 2026 deadline.

Achieving the N500 billion threshold strengthens UBA’s ability to compete as a Tier 1 bank, finance large-scale projects, and expand its international presence.