United Bank for Africa (UBA) plans to raise over 157 billion naira, approximately $102.5 million, through a rights issue. The Nigerian Stock Exchange (NGX) officially announced this in a market bulletin issued July 16.

According to the bulletin, UBA proposes issuing 3,156,869,665 ordinary shares, each with a nominal value of 50 kobos and a unit price of 50 naira. The issue will proceed on the basis of one new share for every thirteen shares held as of market close on Wednesday, July 16, 2025.

The Nigeria-based bank aims to support its growth and increase its capital with this operation. This move will help meet the Central Bank of Nigeria’s (CBN) new capital requirements. The CBN mandates a substantial rise in minimum capital by the end of 2026: 500 billion naira for commercial banks with international licenses, 200 billion for national banks, and 50 billion for regional banks.

This capital raise comes as the bank reports strong financial performance. In the first quarter of 2025, UBA recorded a pre-tax profit of 204.27 billion naira, marking a 30.65% increase compared to the same period in 2024. Net profit reached 189.84 billion naira, representing a year-on-year increase of 33.15%. With these solid results and successful previous capital raises, UBA appears well-positioned to attract investors for this new operation.

Sandrine Gaingne