Henrietta Ugboh, an independent non-executive director of United Bank for Africa (UBA) Plc, has acquired 49,700 additional shares in the bank, according to a regulatory disclosure filed with the Nigerian Exchange.

The transaction, which took place on 30 May 2025, was executed at a unit price of ₦34.75 per share, bringing the total value to approximately ₦1.7 million. Ms Ugboh joined the board in November 2024, following the retirement of former director Owanari Duke.

The share purchase follows a similar transaction by Raymond Chidubem Ogboh, a related party to Ms Ugboh, who acquired 200,000 shares in two separate deals on 2 May. The acquisition was valued at ₦7 million.

UBA’s board members have continued to expand their equity positions in the bank. On 2 May, Group Managing Director and Chief Executive Officer Oliver Alawuba acquired 10.4 million shares worth ₦362.5 million, increasing his total holding to 121.4 million shares. According to UBA’s latest audited report, Mr Alawuba had previously held 111 million shares, having doubled his stake from 57 million the year before.

Also on 2 May, Deputy Managing Director Muyiwa Akinyemi acquired 2.8 million shares valued at ₦97 million. Mr Akinyemi’s current stake stands at 59.6 million shares.
He had raised his shareholding in the bank by 209 per cent in 2024.

In a separate filing, Group Executive Director for Finance and Risk Management, Ugochukwu Nwaghodoh, added 5.5 million shares worth ₦193.3 million to his portfolio on the same date. Mr Nwaghodoh now holds 76.5 million shares, up from 70.9 million reported in the previous year.

The latest purchases reflect growing insider confidence in UBA’s financial position and performance, as directors continue to increase their personal stakes in the bank.