The listing followed the successful completion of UBA’s recent rights issue and was confirmed in a letter dated January 12, 2026, from the NGX to the bank. The exchange said the new shares were admitted after UBA submitted all required post-approval documentation.
According to the NGX, the rights issue involved 3,156,869,665 ordinary shares of 50 kobo each, priced at N50 per share, on the basis of one new share for every 13 shares previously held. The shares were formally listed on Monday, January 12, 2026.
UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, welcomed the listing, describing it as a strong endorsement of the bank’s strategy and long-term outlook.
“This successful transaction reflects strong investor confidence in UBA’s financial strength, governance and growth strategy,” Alawuba said. He added that the additional capital would support the bank’s pan-African and global expansion plans while strengthening its ability to deliver sustainable value to shareholders and other stakeholders.
The rights issue represents the latest step in UBA’s capital-raising efforts. In November 2024, the bank raised N239 billion, lifting its capital base to N355 billion at the time. The recently concluded rights issue injected a further N158 billion, bringing UBA’s total capital to about N513 billion.
With the latest increase, UBA’s qualifying capital base now exceeds the N500 billion minimum requirement set by the Central Bank of Nigeria (CBN) for banks with international authorization, placing the lender above the current recapitalisation threshold.
UBA is among the largest financial institutions operating on the African continent, employing about 25,000 people across its group and serving more than 45 million customers worldwide. The bank operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates, offering retail, commercial and institutional banking services while focusing on financial inclusion and technology-driven innovation.