UBA Surpasses N500bn Recapitalisation Threshold
It’s official, Africa’s Global bank, United Bank for Africa, has surpassed the N500 billion threshold prescribed by the Central Bank of Nigeria (CBN) for financial institutions with international licenses.
This development came to be after the banking group – with operations in 20 African countries and presence in the United Kingdom, the United States of America, France and the United Arab Emirates – finalised the second phase of its Rights Issue, for which the Securities and Exchange Commission (SEC) approved the allotment of ₦157 billion to shareholders.
Interestingly, the Oliver Alawuba-led financial institution’s share capital and share premium, as revealed in its 2025 half-year audited results, which stood at approximately N350 billion, have now exceeded N500 billion.
The outcome is a reaffirmation of the bank’s strength and further confirmation it takes the issues of applicable regulatory requirements seriously.
According to information, the bank, on Wednesday, announced the closure of its rights issue after raising a total of N157.84 billion.
The rights issue offered 3,156,869,665 ordinary shares at N50 per share, based on one new share for every 13 existing shares held by shareholders on the register as of 16 July 2025.
At the close of the acceptance list on 19 September 2025, UBA initially received 6,404 applications for 4.13 billion shares valued at N206.74 billion. Following scaling adjustments by shareholders, the final allotment came down to 3.16 billion shares worth N157.84 billion, representing 100 per cent subscription of the rights issue.
