In a significant development for Nigeria's financial sector, the United Bank for Africa (UBA) has successfully crossed the Central Bank of Nigeria's (CBN) N500 billion minimum capital threshold for banks with international authorisation. The bank achieved this milestone well ahead of the regulatory deadline of March 2026, solidifying its position among the country's top-tier lenders.
How UBA Secured the Capital
The final push was accomplished through a N178.3 billion rights issue which concluded in September 2025. This offering attracted 6,404 valid acceptances for approximately 3.57 billion shares, with each share priced at N50. The transaction details reveal that the vast majority, 6,399 applications, were standard rights subscriptions.
According to the issue's registrar, PAC Registrars and Investor Services Limited, successful allottees will see their shares credited to their CSCS accounts by 7 February 2026. Any surplus funds from the exercise are scheduled for refund by 13 January 2026.
Building on a Strong Foundation
This latest capital raise is not UBA's first move to bolster its financial base. It builds strategically upon a N239 billion rights issue completed in November 2024, which had already elevated the bank's capital base to N355.2 billion. The additional N178.3 billion now comfortably propels UBA past the CBN's stringent N500 billion benchmark.
Financial analysts highlight that this early compliance provides UBA with a strategic advantage. Instead of scrambling to meet the deadline, the bank can now channel its energy and resources towards growth initiatives and strategic expansion.
Joining the Leaders and Driving Sector Stability
With this achievement, UBA enters an exclusive circle of Nigerian banks with international licences that have already met the recapitalisation hurdle. This group includes other financial giants like Access Bank, Zenith Bank, and First Bank of Nigeria.
The CBN's sweeping recapitalisation directive is designed to fortify the Nigerian banking system, enhancing its ability to absorb economic shocks and empowering lenders to finance larger-scale domestic and international projects. UBA's strong financial performance underpins this capital push. The bank reported a profit of N537.5 billion for the first nine months of 2025, a 2.33% increase from the previous year.
With its recapitalisation now secured, UBA is strategically positioned to fund ambitious projects, deepen its footprint across Africa and beyond, and deliver enhanced value to its shareholders. This move signals a phase of resilience and long-term ambition for the bank as Nigeria's financial landscape undergoes a significant period of consolidation and strengthening.
