LAGOS, Nigeria — United Capital Group has acquired a 5% equity stake in Nigerian Exchange Group (NGX Plc), strengthening its position within Nigeria’s capital market ecosystem. The transaction was disclosed in a statement issued on June 15, 2026, and signed by the Group General Counsel and Company Secretary, Dr. Leo Okafor.
The investment marks a significant step in the company’s long-term growth strategy and makes United Capital one of the notable shareholders in the Nigerian Exchange Group. The financial services firm said the acquisition reflects its confidence in the future of Nigeria’s capital markets and its commitment to supporting the sector’s development.
Okay News reports that Peter Ashade, Group Chief Executive Officer of United Capital, described the acquisition as a strong endorsement of the NGX’s leadership and strategic direction. He said the investment aligns with the company’s objective of creating long-term value for shareholders while contributing to the growth of financial market infrastructure.
According to the company, the Nigerian Exchange Group remains a critical institution for capital formation, investment activity and economic development in Nigeria. United Capital said the stake acquisition will allow it to play a more active role in supporting institutions that strengthen investor confidence and promote market growth.
The company noted that its operations span 12 countries across West, East and Central Africa, covering investment banking, asset management, securities trading and wealth management services. It said the NGX investment is expected to support its broader strategy of deepening participation in key financial markets across the continent.
The acquisition comes shortly after United Capital secured investment banking licences in Ethiopia and Rwanda, becoming the first foreign institution authorised to provide investment banking services in Ethiopia’s developing capital market.
