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| NGX confirms listing of 3.16billion UBA shares |
 The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc, to its Daily Official List, signalling a major enhancement of the bank’s market capitalisation whilst also deepening liquidity on the capital market. The NGX noted this in a confirmatory letter to the bank, dated January 12, 2026, and signed by Head, Issuer Regulation Department at NGX, Godstime Iwenkehai, who explained that the additional shares were listed following the successful conclusion of UBA’s recent rights issuance 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. UBA’s Group Managing Director/CEO, Oliver Alawuba, who received the letter, commended the confirmation, as he noted that the move underscores robust investor confidence in the bank’s capitalisation strategy and future prospects. He stated: “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. 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.” In November 2024, the bank had raised N239 billion, which elevated its capital base to N355 billion at that time, while the recently concluded rights issue has injected an additional N158 billion, bringing the bank’s total capital to N513 billion. This latest influx means UBA’s qualifying capital base now surpasses the N500 billion requirement by the Central Bank of Nigeria (CBN), thereby exceeding the recapitalisation minimum for banks with international authorisation. The post NGX confirms listing of 3.16billion UBA shares appeared first on Vanguard News. |
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Nigeria exits EU high-risk list, boosts investor confidence – Edun *Says affordable food, jobs now focus of reforms *Reforms eliminated distortions, level playing field for investors *Defends ₦152trn debt, cites transparency reforms By Babajide Komolafe Nigeria’s exit from the European Union’s high-risk third-country list is a major boost for investor confidence, the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, has said, as the government moves to prioritise affordable food, housing, and job creation in the next phase o |
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Court remands farmer over GH¢110,000 car fraud A 54-year-old farmer, believed to be part of a vehicle fraud syndicate, has been remanded into police custody by the Amasaman Circuit Court to assist investigations into an alleged GH¢110,000 car fraud. The accused, Richmond Osei Sarfo, has denied conspiring with others, currently at large, to defraud Mr Raphael Kwoa, an accountant residing at Mataheko, Accra, under the pretext of selling him a vehicle. Sarfo is expected to assist police in arresting his alleged accomplices |
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NGX confirms listing of 3.16billion UBA shares The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc, to its Daily Official List, signalling a major enhancement of the bank’s market capitalisation whilst also deepening liquidity on the capital market. The NGX noted this in a confirmatory letter to the bank, dated January 12, 2026, and signed by Head, Issuer Regulation Department at NGX, Godstime Iwenkehai, who explained that the additional shares were listed foll |
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Ghana economy continues stronger performance – GSS Ghana’s economy continues to show strong performance with economic activities growing by 3.8 per cent year-on-year in October 2025, propelled largely by the services sector, says the Ghana Statistical Service (GSS). This is compared with the three per cent growth recorded in October 2024, says the Monthly Indicator of Economic Growth (MIEG) released by GSS on January 14. The MIEG gives an early signal of how the economy is likely to perform ahead of the calculation of Gross Domestic Product |
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Accra traffic to blame for public transport crisis – GPRTU The Ghana Private Road Transport Union (GPRTU) has attributed the public transport crisis in Accra largely to heavy traffic congestion in the capital during peak morning and evening hours. The Union said persistent gridlock was preventing commercial drivers from completing multiple journeys and returning to transport terminals on time, contributing to long queues and delays experienced by commuters at the major terminals. In an interview with the Ghana News Agency, Nana Nimako Asiamah, |
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Nigeria’s oil output drops 8.3% to 1.544m bpd By Udeme Akpan, Energy Editor The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the oil and gas industry regulator, said Nigeria’s oil output, including condensate, dropped by 8.3 percent year-on-year (YoY) to 1.544 million bpd in December 2025 from 1.684 million bpd recorded in the corresponding period of 2024. The commission did not provide reasons in its report released Thursday, but there were indications that it might be fueled mainly by limited investment and production. |