A major milestone was reached in the Nigerian banking sector on January 17, 2026: United Bank for Africa (UBA) surpassed the minimum capital requirement set by the Central Bank, following the issuance of 3.16 billion additional shares on the Nigerian Exchange. This move strengthens the bank’s financial stability and represents a key step in the recapitalization of the banking system ahead of the March 2026 deadline.
On January 17, 2026, in Lagos, United Bank for Africa (UBA) reached a major milestone in the Nigerian banking sector. Following the issuance and listing of 3.16 billion additional ordinary shares on the Nigerian Exchange Limited, the bank surpassed the regulatory threshold of 500 billion naira, equivalent to 340 million dollars, required by the Central Bank of Nigeria (CBN). This move represents an important step in the recapitalization of Nigerian banks ahead of the March 2026 deadline.
UBA serves 45 million customers across the globe. We operate in 24 countries on 4 continents and we process transactions in billions on a daily basis. UBA is helping to transform lives on the continent.
Tony Elumelu, Chairman, United Bank for Africa (UBA) – Nigeria
The primary objective of this move is to strengthen the bank’s equity in line with the new standards set by the CBN. This capital raise allows UBA to increase its capacity to finance large-scale projects and support banking services across the African continent. The transaction also sends a positive signal to investors, demonstrating the bank’s strength and resilience in meeting regulatory requirements.
Africa is a continent of over 1.3 billion people and yet we don’t have a very strong, robust payment engine, which is where the United Bank of Africa is coming forward to provide an opportunity and solution for that gap. And lastly is what I call Africa capitalism, which is enabling the private sector to drive, orchestrate, and lead the growth and transformation of the continent.
Tony Elumelu, Chairman, United Bank for Africa (UBA) – Nigeria
The United Bank for Africa (UBA) Group, present in 24 African countries as well as the United Kingdom, the United States, France, and the United Arab Emirates, posted a net profit of 766.57 billion naira in 2024, with total assets of 30,400 billion naira and equity of 3,420 billion naira. In the first nine months of 2025, net profit reached 537.53 billion naira, while equity stood at 4.3 trillion naira, confirming the bank’s strength and its key role in strengthening the African banking sector.
