UBA crosses N500bn threshold after successful rights offer
United Bank for Africa has secured N178.3 billion through a rights issue, elevating its capital base beyond the N500 billion requirement for Tier 1 banks holding international licenses.
The bank revealed the successful completion of the rights issue in September 2025.
This recent capital increase follows an earlier N239 billion raised in November 2024, which lifted UBA’s capital to N355.2 billion.
UBA reported that its rights issue, which concluded on Friday, September 19, 2025, garnered 6,404 valid acceptances for a total of 3,566,081,624 shares, amounting to N178.3 billion.
Among these valid submissions, 6,399 were standard rights issue applications, while 5 were from traded rights, collectively totaling 10,462 shares.
The number of invalid applications during the rights issue reached 568,666,066 shares, valued at N28.43 billion, which brings the aggregate number of valid and invalid applications to 4,134,747,690 shares.
Full acceptances were received from 6,293 applications covering 453,578,211 shares, whereas partial acceptances represented 106 applications for 135,274,777 shares.
The traded rights segment featured 5 NGX transactions during the acceptance window, which accounted for 10,462 shares valued at N523,100.
Earlier, UBA had raised N239 billion in November 2024, which increased its capital base to N355.2 billion at that point.
With the recent addition of N178.3 billion, the bank has now exceeded the N500 billion recapitalization requirement set by the Central Bank of Nigeria for international banks, although official validation is still pending.
This achievement positions UBA among the early banks to comply with the new capital regulations prior to the 2026 deadline.
Reaching the N500 billion benchmark enhances UBA’s capability to compete as a Tier 1 bank, finance substantial projects, and broaden its international footprint.
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