Oliver Alawuba, the Group Managing Director and CEO of United Bank for Africa (UBA) Plc, has acquired 10,357,798 ordinary shares of the bank at ₦35.00 per share, amounting to a total transaction value of ₦362.5 million.
The purchase was executed on May 2, 2025, and disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX) on May 5, 2025.
This acquisition is part of a series of insider transactions by Alawuba aimed at increasing his equity stake in UBA. Notably, in June 2023, he purchased 35.5 million shares valued at ₦405 million, and in November 2023, he acquired an additional 22.8 million shares.
Alawuba’s continued investment in UBA shares underscores his confidence in the bank’s performance and long-term prospects. His leadership tenure has been marked by significant milestones, including UBA’s attainment of the ‘African Bank of the Year’ award in 2021 and the bank’s expansion across 20 African countries.
The recent share acquisition aligns with UBA’s robust financial performance. For the first quarter of 2025, the bank reported earnings per share (EPS) of ₦5.35, up from ₦3.96 in the same period of 2024.
As UBA continues to strengthen its position in the African banking sector, Alawuba’s increased shareholding reflects a strong endorsement of the bank’s strategic direction and growth trajectory.
