United Capital Group has completed the acquisition of a 5% equity stake in the Nigerian Exchange Group (NGX Plc), marking a significant deepening of the investment bank's ties to the country's primary capital market infrastructure.
The transaction was disclosed in a statement on Monday, June 15, 2026, signed by the Group's General Counsel and Company Secretary, Dr. Leo Okafor. It positions United Capital as a notable shareholder in the exchange operator, which serves as a critical platform for capital formation and investment activity in Nigeria.
"This acquisition reflects our confidence in Nigeria's capital markets and our responsibility to contribute actively to their growth," said Group Chief Executive Officer **Peter Ashade**. "We have always maintained that United Capital is not just a participant in Nigeria's capital markets; we are builders. This strategic investment in NGX Plc underscores that commitment and our intention to create lasting impact."
United Capital described the deal as a milestone in its long-term growth strategy, reinforcing its commitment to supporting institutions that foster market development and strengthen investor confidence. The investment is also expected to position the Group to contribute more meaningfully to the ongoing evolution of Nigeria's financial services landscape.
The acquisition comes shortly after United Capital secured investment banking licences in Ethiopia and Rwanda, further advancing its pan-African expansion strategy. Those approvals made United Capital the first foreign institution authorised to provide investment banking services in Ethiopia, including financial advisory, securities brokerage, and portfolio management.
With operations spanning 12 countries across West, East, and Central Africa, and service offerings that include investment banking, asset management, securities trading, and wealth management, United Capital said it is well placed to leverage the investment for the benefit of both the Group and the wider market.
For market participants, the deal signals continued institutional confidence in the NGX's strategic direction and the broader Nigerian capital market, which remains a key focus for both domestic and international investors navigating the country's evolving regulatory landscape.
