Tony Elumelu is betting massive on UBA once more. The {bank}’s chairman has acquired an extra N43.91 billion price of shares over simply two days, displaying clear confidence within the lender’s future.
As revealed in a regulatory submitting submitted to the Nigerian Change Group by UBA’s Group Firm Secretary, Bili Odum, the purchases happened between the twenty ninth and thirtieth of Could, 2025.
Throughout this window, Elumelu purchased 1,267,669,350 shares at a median value of N34.64 per share. A more in-depth take a look at the submitting exhibits that he bought 50 million shares at various costs N34.70, N34.65, N34.75, and N34.55 together with an additional 17,669,350 shares at N34.70 per share.
This flurry of transactions adopted an earlier deal on the twenty third of Could, the place he purchased 45,034,044 shares at N34.30 every, spending roughly N1.53 billion.
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Elumelu had made his intentions identified way back to the twenty fifth of Could, 2024, when he publicly declared plans to extend his possession within the {bank}.
His newest strikes come as UBA positions itself to fulfill the Central Bank of Nigeria’s new capital requirement. The CBN now mandates that industrial banks with worldwide licenses enhance their capital base to N500 billion.
At present, UBA stands at N355.2 billion and is getting ready to boost N144.8 billion within the third quarter of 2025 to fulfill the goal. Elumelu has promised that the {bank} will full the capital increase earlier than the deadline.
