United Capital Acquires 5% Stake In NGX Group

Kayode Tokede 

United Capital Group has said it has completed the acquisition of a 5 per cent 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. 

Group General Counsel/Company Secretary, United Capital, Dr Leo Okafor in a statement said the  transaction has been successfully concluded, marking a significant milestone in the Group’s long-term growth strategy. 

Speaking on the development, Group Chief Executive Officer, United Capital Group, Peter Ashade in a statement stated: “This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively. 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. 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.

“This strategic investment is consistent with United Capital’s broader vision: to create sustainable, long-term value for its shareholders while playing an active role in advancing the ecosystems in which we operate.”