ABUJA, Jan. 8, 2026 (Naija247news) – United Bank for Africa (UBA) has successfully raised N178.3 billion through a rights issue, lifting its capital base above the N500 billion minimum required by the Central Bank of Nigeria (CBN) for internationally licensed banks. The move positions the lender comfortably ahead of the March 2026 regulatory deadline.
The rights issue, which closed in September 2025, follows a N239 billion capital injection completed in November 2024 that had previously raised UBA’s capital to N355.2 billion. Together, the two transactions enable UBA to surpass the CBN’s recapitalisation threshold, pending formal regulatory confirmation.
Under the CBN directive, all banks with international licences must maintain a minimum capital base of N500 billion by March 2026. The policy is part of broader efforts to reinforce financial system stability and ensure Nigerian lenders can support large-scale corporate and infrastructure financing.
UBA reported that the rights offer attracted 6,404 valid acceptances for 3.57 billion shares, with standard applications accounting for the majority of subscriptions. Traded rights contributed a marginal 10,462 shares through five transactions on the Nigerian Exchange, while total applications—including invalid submissions—amounted to 4.13 billion shares. The rights were priced at N50 per share, covering 3.16 billion ordinary shares of 50 kobo each, offered to shareholders registered as of July 16, 2025. PAC Registrars and Investor Services will credit investors’ CSCS accounts by February 7, 2026, with refunds of surplus funds to be completed by January 13, 2026.
The recapitalisation strengthens UBA’s ability to expand across Africa, sustain Tier 1 status, and meet tighter regulatory standards in Nigeria’s banking sector. Shareholding as of June 30, 2025, shows Heirs Holdings Limited, controlled by UBA chairman Tony Elumelu, holding 5.15 percent, while UBA Nominees holds 6.27 percent.
The capital raise comes amid steady earnings growth. UBA posted unaudited profit of N537.5 billion for the first nine months of 2025, up 2.33 percent year-on-year, with gross earnings rising nearly 3 percent to N2.5 trillion, largely driven by interest income.
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Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.
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