Operatives of the Osun State Police Command have arrested six persons and recovered N4,810,500 in cash and election materials during a raid at a residential property linked to the Secretary to the State Government (SSG), Igbalaye Teslim in Oroki Estate, Osogbo. The Command, in a press release signed by DSP Abiodun Ojelabi on Tuesday, said […]
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United Capital Plc has reaffirmed its commitment to expanding its footprint across Africa, revealing that it has become the first African financial services institution to secure regulatory registration in both Rwanda and Ethiopia as part of its long-term Pan-African growth strategy.
Group Chief Executive Officer, Peter Ashade, disclosed this while speaking on the company’s performance and strategic direction, noting that the group’s assets have grown to more than N2.2 trillion, reflecting growing confidence from clients, investors, regulators and other stakeholders.
According to him, the company’s sustained growth is underpinned by the trust reposed in the institution by its customers, shareholders, business partners and the media.
“The growth we are witnessing is a reflection of the confidence that clients, investors and stakeholders have in United Capital.
“We also appreciate the role of the media in shaping public perception because many investors rely on credible reporting to make informed decisions,” he said.
Ashade said the company deliberately pursued expansion into Rwanda and Ethiopia, describing the move as a strategic milestone that took more than a year of engagement with regulators in both countries.
He explained that United Capital is now the first African financial services institution registered in the capital market segment in Rwanda and the first Nigerian financial services firm to establish such a presence in Ethiopia, where no Nigerian bank currently operates.
He said the expansion is driven by a broader vision of promoting African economic integration rather than simply growing the company’s business.
“When we expand into Africa, we are not representing United Capital alone; we are representing Nigeria. We believe in Nigeria’s leadership role on the continent, and we also believe that the time has come for Africa to deepen economic integration.
Africa is now, and we are committed to contributing to that journey,” Ashade stated.
The Group CEO also highlighted the company’s strong financial performance, noting that its balance sheet has recorded significant growth over the years while shareholder value has increased substantially.
According to him, an internal review showed that United Capital has delivered more than 2,500 per cent growth in shareholder wealth over the past eight years, a performance he said is supported by publicly available market data.
Ashade said the company has consistently prioritized shareholder returns through a disciplined capital allocation strategy and an enhanced dividend policy.
He noted that while the company did not pay interim dividends before 2018, it has consistently declared interim dividends over the past three years, demonstrating its commitment to rewarding investors.
“Every major business decision we make is guided by the interests of our shareholders. Creating sustainable value for investors remains one of our highest priorities,” he said.
The United Capital CEO expressed confidence that the company’s market valuation does not yet fully reflect its intrinsic value but said ongoing strategic initiatives and future growth plans would unlock greater value for shareholders.
He also disclosed that the group has significantly strengthened its corporate governance framework since 2018 through structural reforms and leadership changes.
According to him, United Capital now operates with a more robust governance structure, supported by executive leadership overseeing both front-office and back-office operations, alongside chief executive officers heading each of its seven business subsidiaries.
Ashade said the strengthened governance framework positions the group to sustain its growth trajectory while supporting its ambition of becoming a leading Pan-African financial services institution.
Also speaking at the company’s H1 2026 Investors and Analysts Call, The Group Chief Finance Officer of United Capital Plc is Shedrack Onakpoma said the Group remains optimistic about its growth prospects despite a challenging global macroeconomic environment, citing its diversified business model, expanding digital ecosystem, robust capital position, and strategic investments as key drivers of future performance.
Onakpoma said the group’s strategic priorities for the remainder of the year include strengthening market leadership across its operating segments, accelerating digital transformation through technology and automation, expanding its presence across Africa, enhancing customer experience, embedding sustainability into its operations, and maintaining a resilient risk management framework.
United Capital also identified six high-impact initiatives that will shape execution in 2026.
These include expanding its African footprint, accelerating assets under management (AUM) growth, developing innovative financial products, improving operational efficiency through technology, driving financial inclusion, and leveraging strategic partnerships to broaden market reach.
Management noted that while global economic conditions remain uncertain, the company expects investment opportunities to emerge across key markets.
It projected that elevated global yields would likely persist amid inflationary pressures, while advances in artificial intelligence are expected to continue supporting equity market performance, particularly in the United States and Asia.
The Group also expects increased competition for deposits to raise funding costs but believes its diversified earnings base positions it to navigate the environment effectively.
The positive outlook follows a robust financial performance in the first half of the year.
United Capital reported gross earnings of N37.49bn, up significantly from N23.76bn recorded in the corresponding period of 2025, while profit before tax rose to N24.78bn from N13.79bn.
Profit after tax climbed to N21.10bn from N11.89bn, reflecting strong growth in investment income, fee and commission income, and trading activities.
The Group also recorded marked improvements in key profitability indicators. Return on Equity increased to 25.03 per cent from 16.77 per cent, Return on Assets rose to 2.48 pervcent from 1.37 percent, while earnings per share advanced to N2.34 from N1.32, underscoring improved returns to shareholders.
Across its business segments, United Capital reported continued momentum.
Its Investment Banking division maintained leadership in debt and equity capital markets, advising on several landmark transactions, including the N501.2bn NBET Finance Company Plc bond issuance, a N157bn rights issue for United Bank for Africa, and multiple commercial paper programmes for leading corporates.
The Asset Management business continued to strengthen its market position, managing over N1tn in assets on behalf of more than 100,000 retail and institutional investors.
The business also highlighted more than 350 per cent growth in mutual fund assets since 2021 and the successful launch of Nigeria’s first children-focused mutual fund, reinforcing its commitment to innovation and financial inclusion.
United Capital Securities also delivered a strong performance during the period, recording 64 per cent year-on-year revenue growth and 100 per cent growth in profit before tax.
The business traded shares worth N287.6bn during the first half, ranking seventh on the Nigerian Exchange’s Top 10 trading firms.
Similarly, the Wealth Management business reported continued expansion, with assets under management for its UC Octus offshore equities product increasing by 55 per cent year-to-date to N7.47bn, while its Investment Planning product more than doubled to N27.6bn.
Wealth Management’s core business revenue also exceeded ₦2 billion during the second quarter.
United Capital Accelerates Pan-African Expansion With Rwanda, Ethiopia Entry is first published on The Whistler Newspaper
Securities and Exchange Commission (SEC) has commenced the implementation of a fully electronic registration system for
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The high-level dialogue, held at the Shehu Musa Yar’Adua Centre, Abuja, was themed “Declaration of State of Emergency on Security: Matching Words with Action.”
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The Department of State Services (DSS) has arraigned five men over their alleged complicity in the May 15 kidnapping of pupils and teachers in the Oriire Local Government Area of Oyo State and the subsequent killing of two of the victims. The five suspects arraigned on Wednesday before a Federal High Court sitting in Abuja […]
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National Women Leader of the All Progressives Congress (APC), Dr. Mary Alile, on Wednesday declared that
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The City Boy Movement has reacted to the backlash that greeted the presence of the Commissioner of Police, Lagos State Command, CP Tijani Fatai, at the inauguration of its Lagos State chapter on Tuesday.
DAILY POST reports that a video circulating on social media sparked widespread reactions after it showed the CP attending the inauguration of the City Boy Movement’s Lagos State Chapter Executive Committee.
The footage, which went viral on Wednesday, captured the CP arriving at the event venue in Ikeja.
In the video, the Lagos Police boss was seen exchanging pleasantries with dignitaries attending the inauguration and walking through the gathering alongside other attendees and security personnel.
The development raised concerns over the CP’s alleged involvement in partisan politics, especially as the 2027 general elections draw near.
Reacting, the City Boy Movement, in a statement by its National Director, Media Monitoring & Rapid Response, Bashir Ahmad, said the “mere presence of the Commissioner of Police at a public event should not, without more, be interpreted as political endorsement, partisan participation or institutional alignment with the organisers of that event.”
According to Bashir, “Public officers, particularly those charged with maintaining law and order, regularly attend or deploy personnel to public gatherings in the discharge of their official responsibilities. Such responsibilities extend to political, civic, religious, professional, educational and community events where security considerations require their presence or supervision.
“Their attendance at such events, standing alone, does not constitute support for, affiliation with or endorsement of any organisation or cause.
“The constitutional and statutory responsibilities of the Nigeria Police Force include the preservation of public peace, the protection of lives and property, the prevention and detection of crime, and the maintenance of law and order during lawful public assemblies.
“These responsibilities are owed equally to all persons and organisations without discrimination and should not be misconstrued as evidence of institutional bias or political preference.
“Accordingly, it is neither fair nor accurate to infer, solely from the Commissioner’s attendance, that the Nigeria Police Force has taken a partisan position or abandoned its obligation of professional neutrality. Public institutions should be assessed on the basis of objective facts rather than conjecture or speculation.
“The City Boy Movement respects the constitutional role and institutional independence of all security agencies. We neither seek nor expect preferential treatment from any agency of government.
“Like every law-abiding organisation, we expect only that our lawful activities will continue to enjoy the protection guaranteed by the Constitution of the Federal Republic of Nigeria and other applicable laws.”
City Boy Movement opens up on presence of Commissioner of Police at its inauguration in Lagos
Paul Okoye, one-half of the defunct Nigerian Afrobeats duo P-Square, has distanced himself from his twin brother, Peter Okoye’s, “who Naija language help?” controversy.
Recall that Peter Okoye made the statement, “Who Naija language help? Make I hear word abeg,” on X while responding to a fan who asked if his children are fluent in Igbo, his native language.
The fan asked the question after Peter Okoye wrote: “Still in Paris! Watching my kids speak French so effortlessly makes me think maybe it is time to own a crib here in Paris.”
His statement about Nigerian languages, however, earned backlash on social media, with many rebuking him for making the comment despite infusing Nigerian languages into most of his songs and profiting from their commercial appeal.
Speaking amid the controversy, Peter Okoye’s twin brother, singer Rudeboy, distanced himself from him, stating that he is nobody without Nigeria’s languages and culture.
He wrote on X: “100% proudly Igbo. 100% proudly Nigerian. I’m a ‘nobody’, I repeat!! A nobody!!, without the culture, native language. 100% proudly Nigerian. 100% proudly Igbo.”
Popular Nigerian skit maker Akinyoola Ayoola, popularly known as Kamo State, has explained why he is no longer frequently seen with actress and filmmaker Funke Akindele
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The Anambra State Government says it will embark on structural integrity tests on all commercial buildings within Oko and Amaokpala to ascertain their safety and durability.
This follows the collapse of a three-storey building in Amaokpala, as well as other similar incidents recorded within Orumba North Local Government Area.
In a public statement signed by the Commissioner for Physical Planning and Urban Development, Mr. Chijioke Ojukwu, the ministry expressed deep sorrow over the tragic incident, extended its heartfelt condolences to the families of those who lost their lives, and prayed for the full and speedy recovery of the injured persons who were rescued and are receiving medical care.
Mr. Ojukwu stated that the site of the collapsed structure had been sealed pending a full and thorough investigation, adding that the government would not relent in ensuring the prosecution of those whose negligence led to the incident.
He said preliminary assessments point to structural failure as the likely cause of the collapse, insisting that this was a fact known to the owners and management of the building, yet they placed monetary gain above the safety of the occupants.
The commissioner disclosed that a comprehensive technical investigation is underway to determine the exact circumstances surrounding the collapse.
He added that the state government has received actionable intelligence regarding other potentially distressed buildings in the same area.
Accordingly, the ministry will conduct a compulsory review and structural integrity tests on all buildings within the vicinity of the collapsed building.
Mr. Ojukwu announced that the state government would take decisive steps, including the revocation of the right of occupancy of the parcel of land on which the building stands and the prosecution of anyone whose action or inaction may have contributed to the unfortunate incident.
He reaffirmed the ministry’s unwavering commitment to the strict enforcement of physical planning regulations, building codes and safety standards across Anambra State.
The commissioner said the ministry would continue to work closely with the Anambra State Emergency Management Agency (SEMA), the National Emergency Management Agency (NEMA), the Anambra State Fire Service, the Nigeria Police Force and other relevant agencies.
Property owners, developers and landlords have been reminded of their legal and moral responsibility to ensure that all buildings comply with approved plans, structural standards and safety regulations.
Mr. Ojukwu warned that the government would not hesitate to take firm action against any person or entity found to have compromised building safety through negligence, substandard construction or non-compliance with planning laws.
Members of the public have been urged to remain calm, avoid the sealed site and refrain from spreading unverified information that could hinder ongoing operations or cause unnecessary distress.
Anambra govt to examine students hostels in Oko, vows to prosecute owner of collapsed building