An extra 3.16 billion ordinary shares of United Bank for Africa Plc have been published on the Nigerian Exchange Limited's daily official list, significantly increasing the bank's market capitalisation and bolstering liquidity in the Nigerian capital market.

Godstime Iwenkehai, the head of Nigerian Exchange Limited's Issuer Regulation Department, wrote a confirmation letter dated January 12 that informed the bank of the development. The exchange clarified that the extra shares were accepted after UBA's most recent rights issue exercise was completed successfully.

"Please be advised 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, January 12, 2026, following the submission of all post-approval documents," Iwenkehai wrote.

Oliver Alawuba, the Group Managing Director and CEO of UBA, received the letter and welcomed the confirmation, characterising it as a clear sign of investor confidence in the bank's long-term outlook and capitalisation aspirations.

"We appreciate NGX's official confirmation that our rights issue shares would be listed. According to Alawuba, "strong investor confidence in UBA's financial strength, governance, and growth strategy is reflected in this successful transaction."

“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,” he added.

United Bank for Africa raised N239 billion in November 2024, raising its capital base to N355 billion at the time. The bank then received an additional N158 billion from the recently completed rights offering.

With this latest capital inflow, UBA’s total capital has risen to N513 billion, placing the bank comfortably above the N500 billion qualifying capital requirement set by the Central Bank of Nigeria for banks operating with international authorisation.

The new capital position means UBA has successfully exceeded the minimum recapitalisation threshold prescribed by the Central Bank of Nigeria, reinforcing its standing as one of Nigeria’s leading international banking institutions.

With more than 45 million customers worldwide and a workforce of over 25,000 employees across the company, United Bank for Africa continues to be one of the biggest employers in Africa's financial services industry.

The bank offers retail, commercial, and institutional banking services in 20 African nations, the United Kingdom, the United States of America, France, and the United Arab Emirates.

Additionally, UBA is acknowledged for its leadership in financial inclusion throughout the continent and for its ongoing investments in state-of-the-art technology to improve service delivery and increase access to banking services.