csrreporters 
United Bank for Africa Plc (UBA) has exceeded the Central Bank of Nigeria’s N500 billion minimum capital requirement for commercial banks with international authorisation, strengthening its balance sheet well ahead of the March 2026 recapitalisation deadline.
The milestone follows the successful completion of the second tranche of UBA’s rights issue, which saw the Securities and Exchange Commission approve the allotment of N157 billion to shareholders. As a result, the bank’s share capital and share premium rose from about N350 billion, as reported in its 2025 half-year audited results, to above the regulatory threshold.
The achievement underscores UBA’s compliance with the CBN’s recapitalisation framework and reflects a deliberate capital-planning strategy aimed at ensuring long-term stability and growth under the new regulatory regime.
Earlier, at UBA’s 65th Annual General Meeting in Abuja, the bank’s Chairman, Tony Elumelu, had assured shareholders that the institution would meet the N500 billion benchmark before the third quarter of 2025. He disclosed that UBA’s capital base stood at N116 billion in 2024, but rose significantly following a rights issue launched in November, which was oversubscribed.
The rights issue involved the offer of 6.84 billion ordinary shares of 50 kobo each to existing shareholders at N35 per share. Although the offer was oversubscribed by N11.6 billion, UBA accepted N240 billion, returning the excess to shareholders. This raised the bank’s capital base to N355.2 billion at the time, with a clear roadmap to meet the outstanding requirement.
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