United Capital Plc has completed the recapitalisation of its Securities and Exchange Commission-regulated subsidiaries more than one year ahead of the June 2027 regulatory deadline as the investment banking group strengthens its position in Nigeria’s capital market industry.
The company disclosed that all four of its SEC-regulated subsidiaries have independently met or exceeded the revised minimum capital requirements introduced under the Investments and Securities Act 2025 and SEC Circular No. 26.
The revised framework significantly increased minimum capital thresholds across the capital market ecosystem to strengthen investor protection, improve market resilience and align operators with the growing complexity of financial market activities.
Under the new framework, fund and portfolio managers operating at full scope are required to maintain minimum capital of ₦5 billion, trustees ₦2 billion and issuing houses providing underwriting services ₦7 billion.
United Capital said its recapitalisation was completed without external fundraising.
According to details released by the group, United Capital Investment Banking exceeded the ₦7 billion requirement for Tier-2 issuing houses and underwriting businesses with ₦9 billion in capital, while United Capital Trustees surpassed the ₦2 billion threshold with ₦7.5 billion.
United Capital Securities also exceeded the ₦2 billion broker/dealer requirement with ₦2.5 billion in capital.
Meanwhile, United Capital Asset Management achieved ₦13.9 billion in capital against the ₦10 billion threshold required for Tier 1 portfolio managers overseeing assets above ₦250 billion.
The company described the achievement as significant given the scale of the new capital requirements, which represent increases of between 10 and 33 times the previous minimum thresholds introduced in 2015.
Chairman of the Board, Uche Ike, said the early completion reflects the strength of the group’s governance structure and long-term strategy.
Group Chief Executive Officer Peter Ashade said the recapitalisation demonstrates the institution’s disciplined approach to regulation and long-term growth planning.
According to the company, the stronger capital base will allow its subsidiaries to undertake larger mandates, expand product authorisations and manage larger pools of assets.
The recapitalisation comes amid strong financial performance by the group.
At its Annual General Meeting, shareholders approved a final dividend of ₦0.70 per share, bringing total dividend for the 2025 financial year to ₦1.00 per share, equivalent to ₦18 billion. This represents a 25 percent increase over the ₦14.4 billion distributed in 2024.
United Capital also reported a 35 percent increase in revenue to ₦58.55 billion and a 17 percent rise in profit after tax to ₦28.15 billion.
The company said assets under management exceeded ₦2 trillion while all seven subsidiaries recorded profitability during the financial year.
Management added that the group will use its strengthened balance sheet to deepen product offerings, expand institutional and retail market penetration and accelerate Pan-African expansion across its operating markets.
