United Bank for Africa Plc (UBA) has officially met the Central Bank of Nigeria’s (CBN) ₦500 billion minimum capital base requirement for internationally licensed commercial banks, marking a major milestone in the ongoing banking sector recapitalisation drive as the March 31, 2026 deadline approaches.
The Pan-African lender achieved this feat after successfully raising approximately ₦178.3 billion through a rights issue, pushing its total capital base beyond the regulatory benchmark.
The capital raise builds on prior equity injections and positions UBA among the first tier-1 banks to clear the threshold set by the apex bank.
According to filings and market reports, the rights issue recorded strong participation, with valid acceptances for over 3.5 billion ordinary shares that contributed to the significant capital boost.
This places UBA on a solid footing to expand its operations, support larger lending portfolios, and compete more effectively in both domestic and international markets.
Under the CBN’s recapitalisation framework introduced in 2024, banks with international authorisation were required to raise a minimum capital base of ₦500 billion to strengthen resilience, improve risk-absorbing capacity, and enhance their ability to finance key economic sectors.
Analysts say UBA’s early compliance not only reflects confidence in its strategic direction but also adds momentum to the broader sector’s efforts to meet regulatory thresholds.
Other major lenders, including Fidelity Bank and First Bank, have also recently announced they have surpassed the same requirement through private placements and other capital-raising initiatives.
The development is expected to bolster investor confidence and support the Nigerian banking sector’s long-term stability as the recapitalisation deadline nears.
