June 16, (THEWILL) — United Capital Group has acquired a 5 percent equity stake in Nigerian Exchange Group (NGX Group) Plc, a strategic move that reinforces its commitment to the development of Nigeria’s capital market and strengthens its position within the country’s financial ecosystem.
The investment banking and financial services group announced the completion of the transaction in a statement released on Monday, describing the acquisition as a significant milestone in its long-term growth strategy.
According to the company, the investment secures meaningful ownership in one of the country’s most important financial market institutions and reflects its confidence in the future of Nigeria’s capital markets.
“United Capital has completed the acquisition of a 5 percent equity stake in the Nigerian Exchange Group (NGX Plc), securing a significant ownership in one of the most important institutions at the heart of Nigeria’s financial system”, the statement said.
The company noted that NGX Group remains a critical pillar of Nigeria’s capital market infrastructure, playing a central role in facilitating investment, supporting economic growth and promoting market transparency. It added that the acquisition aligns with its objective of supporting institutions that enhance investor confidence and contribute to sustainable economic development.
Speaking on the development, Peter Ashade, the Group Chief Executive Officer of United Capital, said the investment is consistent with the company’s vision of creating long-term value while actively contributing to the advancement of the financial system.
“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively”, Ashade said.
“We have always maintained that United Capital is not only a participant in Nigeria’s capital markets but also a builder. This strategic investment in NGX Plc is our vote of confidence in the leadership and strategic direction of the exchange and our commitment to supporting its continued growth.”
United Capital said the acquisition also positions the group to play a greater role in shaping the future of Nigeria’s financial ecosystem while unlocking opportunities within the exchange.
The investment comes amid the company’s broader expansion drive across Africa. United Capital recently completed the recapitalisation of all its subsidiaries ahead of regulatory deadlines and secured operational licences in Ethiopia and Rwanda. The firm said its Ethiopian approval makes it the first foreign investment bank licensed to operate in the country.
The group currently operates across 12 countries in West, East and Central Africa, offering services spanning investment banking, asset management, securities trading and wealth management.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
