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Mon. Jun 15th, 2026
Trending News: Insecurity, NYSC and the weight of sacrifice to Father’s landNigeria’s Thriving Terrorism Economy and The Gloomy RealitiesFrom Ogbueshi to National Service, Asagba Celebrates Tax OmbudCardoso says tough reforms driving economic recoveryFinance minister pledges better economic policy communicationTinubu honours Abiola, Yar’Adua, Ja’afaru Isa, Sambo Dasuki, Chris Eze, others as heroes Of democracySenate orders arrest of Bandits flaunting cash on TikTokXenophobic attacks: FG receives 258 evacuated Nigerians from South AfricaTax Ombud seeks media support on taxpayer rightsSenate intensifies N210tn NNPCL probe, orders Kyari’s arrestNigeria’s Investment-Grade ambition tops DataPro webinar agendaNigeria’s Pension reforms draw interest from KenyaNigeria secures three finalist spots at IPRA awardsFG hails IMF assessment of Nigeria’s economyTax Ombud moves against multiple taxationWATAF backs regional digital tax cooperationFG approves payments for over 1,240 contractorsCommonwealth chief urges stronger trade ties among members statesInsurers push innovation to expand coverage in AfricaFormer UNILORIN VC, Prof. Ambali dies at 68From Survival to Habit: The Growing Culture of Street Begging in KanoKebbi farmers trapped as Bandits demand ₦40m access fee to farmlandsOyedele joins African leaders, investors at LSE eventGunmen abduct seven Polytechnic students in ZamfaraDataPro: Credit ratings, Liquidity drive growth in Nigeria’s commercial paper marketNIMC warns Nigerians against fake NIN correction portalInsurance key to economic growth, investor confidence — NAICOMNEMA lists 178 kano communities at flood risk in 2026NAICOM promotes Policyholders’ protection fund in AbiaTax Ombud vows quality service as Asagba honours President Tinubu’s appointeesGanduje fires back at Kwankwaso, demands respect for Gov. AbbaASKOJ urges members to uphold integrity, public interest reportingNAICOM approves first Insurtech operator in NigeriaFG declares two-day public holiday for Eid-el-AdhaNCS boosts Northern Media partnership on operational awarenessATAF drives $685m tax recovery amid Africa’s revenue crisisInsurers committee seeks stronger financial sector partnershipsCBN holds benchmark interest rate at 26.5%Shari’ah, divorce and danger of misdiagnosing the problemPolice raid Trafficking syndicate, arrest 13, rescue 30 foreignersEx-Power Minister Mamman falls into EFCC net after alleged evasionCustoms intercepts undeclared $461,600 at Kano AirportFG unveils Digital Tax Complaint system to boost transparency‘Don’t Push Me Too Far’ — Gov Yusuf confronts Kwankwaso over attacksAfreximbank, Egypt advance plans for 2026 meetings in AlameinOAGF intensifies IPPIS payroll reformsNigeria’s tax reforms targets global Competitiveness — OyedeleSEC taps data analytics to drive capital into NigeriaNMDPRA says Refineries near full capacityCBN seeks states’ support to curb inflationNigeria’s ICT directors unite to shape smart campus futureDataPro outlines key drivers of sovereign credit ratingsNAICOM, ECOWAS Brown Card Council deepen tiesFG moves to resolve contractor payment disputeNigeria’s Tax Ombud seeks IMF support to strengthen institutional capacityNwabueze urges journalists to sensitize citizens on fiscal reformsNAF publishes names of successful candidates onlineMiddle East war threatens energy supply, global growth — IMF, World Bank, IEAInsurance premiums hit N2.3tn as sector gains momentumNAICOM foils internal disruption attempt, defends welfare recordOndo Police probe man over killing of two sisters, daughterINEC raises alarm over digital impersonationGlobal tensions worsen Nigeria’s inflation pressures — EdunNAICOM unveils IPPF’s guidelines to safeguard insurance customersBank Recapitalisation: How Nigeria’s ₦4.65tn Capital Raise Signals a New Financial EraNigerian Doctors begin nationwide strike over unpaid allowancesFG budgets N135bn for election legal battles ahead of 2027 pollsPolice arrest 20-year-old ISWAP suspect in Kwara stateNSIA grows net assets to N4.88tn amid FX lossesOyedele: Africa must finance its own developmentCBN concludes banking sector recapitalisation, raises N4.65tnSEC DG seeks stronger collaboration to grow Nigeria’s capital marketGawuna resigns as FMBN chairman, set to defectJUST IN: Former Kaduna Governor El-Rufai loses motherDisu reshuffles senior officers to improve Police service deliverySEC, NOA launch nationwide Anti-Ponzi campaignEFCC evicts Malami, family from Abuja residenceTinubu approves posting of 65 ambassadors to foreign missions, UNTinubu announces OPL 245 settlementAfCFTA to fast track Nigeria’s $1trn economy – OlutayoFG signs presumptive Tax rules to broaden Tax baseCCC, YADI push ranching reform as solution to farmer–herder crisisTinubu nominates Oyedele as minister of state for financeOAGF begins February salaries, cites system glitchNAICOM, BPP partner on Insurance compliance in procurementFG halts NNPC deductions as executive order 9 takes effectNigeria’s GDP grows by 4.07% in Q4 2025 — NBSNAICOM, NCGC move to boost MSME, consumer financingMISR Insurance eyes Nigeria’s post-reform marketFG directs MDAs to follow procurement ActTinubu orders overhaul of Oil, Gas revenue remittancesCardoso calls on African Central Banks to back Climate-Resilient growthSMEDAN launches GROW fund schemeLagos Gov’t, Tax Ombud partner to boost IGRRamadan crescent sighted in Nigeria, fasting begins wednesday — SultanateSinger Market Fire: ₦5bn properties lost, seven missingTribute to Ahmed Hassan SamailaNAICOM unveils new insurance reforms, pledges transparencySEC, NOA partner against investment scamsTinubu hails BOI over ₦636bn loan disbursement in 2025
Mon. Jun 15th, 2026

Elumelu increases stake in UBA with N43.9bn shares

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Elumelu increases stake in UBA with N43.9bn shares

Tony Elumelu, Chairman of the Board of United Bank for Africa Plc, has acquired 1.27 billion shares worth N43.9 billion of the bank.

According to a notification of insider dealing filed with the NGX recently, the transactions were carried out between May 29 and May 30, 2025, at various price points ranging from N34.55 to N34.75 per share.

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The disclosure, signed by the Group Company Secretary, Bili Odum, showed that Elumelu acquired the shares in multiple tranches, with volumes of 50 million shares traded repeatedly at different prices, including N34.55, N34.65, N34.70, and N34.75 per share.

In total, 1,267,669,350 ordinary shares were acquired at an average price of N34.64 per share.

Elumelu, who holds the prestigious national honour of Commander of the Federal Republic, is widely recognised for his leadership in Nigeria’s banking and investment sectors. The latest transaction reinforces his continued confidence in UBA’s long-term growth and stability.

In a similar development, Heirs Holdings Limited, an investment company founded by Elumelu, also acquired 45.03 million shares of UBA at N34.30 per share.

The transaction, which took place between May 22 and May 23, 2025, was also disclosed in a separate notification to the NGX, further solidifying Elumelu’s indirect interest in the bank.

Credit: Punch

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