United Bank for Africa (UBA) has crossed the regulatory capital benchmark for internationally licensed Tier 1 banks after generating ₦178.3 billion from a recently completed rights issue.
The capital exercise, which ended in September 2025, significantly strengthened the lender’s balance sheet and lifted its total capital above the ₦500 billion minimum set by regulators. This achievement comes less than a year after the bank raised ₦239 billion in November 2024, a move that had earlier expanded its capital base to ₦355.2 billion.
Details released by the bank show strong shareholder participation in the offer. UBA recorded 6,404 approved subscriptions covering 3.57 billion shares, all priced at ₦50 each, resulting in the full ₦178.3 billion inflow. The offer was open to shareholders whose names appeared on the register as of 16 July 2025 and involved 3.16 billion ordinary shares of 50 kobo each.
Most of the successful applications 6,399 in total came through the standard rights issue process. A smaller portion originated from traded rights, with five NGX transactions accounting for 10,462 shares valued at ₦523,100 during the acceptance period.
The bank also disclosed that not all submissions met the required conditions. Applications deemed invalid amounted to 568.7 million shares, representing ₦28.43 billion. When combined with approved requests, total subscriptions reached over 4.13 billion shares.
In terms of allotment, 6,293 investors received full allocations for 453.6 million shares, while 106 applicants were granted partial allotments totaling 135.3 million shares.
PAC Registrars and Investor Services Limited, which handled the exercise, confirmed that successful investors will have their CSCS accounts credited by 7 February 2026. Refunds for surplus funds from over-subscription are scheduled to be completed by 13 January 2026.
With the conclusion of this fundraising round, UBA has reinforced its capital position and aligned fully with regulatory requirements for banks operating across international markets.
