United Capital Group has completed the acquisition of a five per cent equity stake in Nigerian Exchange Group (NGX Group) Plc, marking a major step in its long-term growth and expansion strategy.
The leading pan-African investment banking and financial services group announced the successful completion of the transaction on Monday, June 15, 2026.
The acquisition underscores United Capital’s confidence in Nigeria’s capital market and its commitment to supporting the development of the country’s financial ecosystem.
As a key institution within Nigeria’s capital market infrastructure, NGX Group plays a crucial role in facilitating capital allocation, improving market efficiency, and supporting the Federal Government’s economic development agenda.
Commenting on the acquisition, the Group Chief Executive Officer of United Capital Group, Peter Ashade, described the investment as a demonstration of the company’s commitment to market development and investor confidence.
“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively,” Ashade said.
“We have always said that United Capital is not just a participant in Nigeria’s capital markets; we are also builders. This strategic investment in NGX Plc is exactly that: we are building for impact.”
According to him, the transaction also serves as a strong endorsement of the leadership and strategic direction of the Nigerian Exchange Group.
“It is our vote of confidence in the leadership and strategic direction of the NGX, and where the capital market is headed, and this is our commitment to supporting them to get there,” he added.
Ashade noted that the investment aligns with United Capital’s broader objective of creating sustainable long-term value for shareholders while contributing to the advancement of the financial markets in which it operates.
With operations spanning 12 countries across West, East, and Central Africa, United Capital said the equity stake would enhance its ability to drive cross-border investments and support capital formation across the continent.
The group offers a broad range of financial services, including investment banking, asset management, securities trading, wealth management, consumer finance, trusteeship, and microfinance banking.
The acquisition follows several strategic milestones achieved by the company in recent months, including the successful recapitalisation of all its operating subsidiaries ahead of regulatory deadlines.
United Capital has also expanded its African footprint through the acquisition of operational licences in Rwanda and Ethiopia.
Notably, regulatory approval in Ethiopia positioned the firm as the first foreign investment bank licensed to operate in the country, further advancing its pan-African expansion agenda.
The company stated that the investment in NGX Group will enable it to play a more active role in supporting the exchange’s next phase of growth, including its digital transformation and market development initiatives.
Industry observers view the acquisition as a significant vote of confidence in Nigeria’s capital market and a move that could further strengthen collaboration between key stakeholders in the financial sector.
