<< Back             Poser >> 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. Vanguard Business News	Why many Nigerians choose non-interest banking – Summit Bank CEO In this interview with Emeka Anaeto, Business Editor of Vanguard Newspaper, the Managing Director of Summit Bank Limited, Dr. Sirajo Salisu, gave insight into the operations in the sub-sector 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). Nigeria exits EU high-risk list, boosts investor confidence – Edun 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 of reforms. Truckers warn Lagos extortion crippling port logistics, petition Presidency By Godwin Oritse The Council of Maritime Transport Unions and Associations (COMTUA), owners of articulated trucks on Nigerian roads, has petitioned President Bola Tinubu over what it described as the failure of the Lagos State government to protect truckers and other road users from widespread extortion, harassment and intimidation by organized street urchins. In a petition […] FG threatens to withdraw licenses of dormant oil blocks By Udeme Akpan & Sebastine Obasi The Federal Government is set to revoke the licenses of some oil blocks in the country over delays in development of the oil blocks by the license holders. Confirming this yesterday at the Licensing Round Pre-bid Conference in Lagos, Minister of State, Petroleum Resources, Heineken Lokpobiri, added that there will be […] 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, […]