United Capital Group has completed the recapitalisation of its Securities and Exchange Commission-regulated subsidiaries, more than 14 months ahead of the 30 June 2027 compliance deadline set by the Commission.
The Pan-African investment banking and financial services group confirmed that it had satisfied the revised minimum capital requirements introduced under SEC Circular No. 26, issued pursuant to the Investments and Securities Act 2025.
Under the revised framework, minimum capital requirements for capital market operators were significantly increased. Fund and Portfolio Managers operating at full scope are now required to maintain a minimum capital base of ₦5 billion, up from ₦150 million, while Trustees must hold ₦2 billion, compared to the previous ₦300 million threshold. Issuing Houses providing underwriting services are also required to maintain ₦7 billion in capital, up from ₦200 million.
The new framework was introduced to strengthen market resilience, improve investor protection and align capital adequacy with the growing complexity of capital market activities.
United Capital disclosed that its four SEC-regulated subsidiaries — United Capital Investment Banking, United Capital Asset Management, United Capital Trustees and United Capital Securities — had each independently met or exceeded the new capital thresholds.
The development was confirmed during the Group’s Annual General Meeting held in Abuja on 24 April 2026, where the Board stated that all compliance milestones had been achieved without external capital raising.
The recapitalisation is considered significant within Nigeria’s financial sector, where many operators are still preparing to meet the 2027 deadline. The revised thresholds represent increases of between 10 and 33 times the 2015 minimum capital requirements for several categories of operators.
Chairman of the Board, Uche Ike, said: “The early completion of this recapitalisation reflects the strength of our governance and our clear focus on building a resilient institution. This capital base positions United Capital strongly for the opportunities ahead, not only have we met regulatory requirements, but we have also enhanced our capacity to deliver sustainable growth and long-term value to our shareholders and stakeholders.”
Group Chief Executive Officer, Peter Ashade, added: “Completing our full recapitalisation well ahead of the SEC deadline is not merely a regulatory milestone; it reflects the discipline with which we run this institution. We did not wait to be compelled; we acted with foresight. Regulatory compliance is a baseline, not an afterthought. We have met and exceeded the full scope of the SEC’s guidelines because it provides the right foundation for our long-term ambitions across our Group, our clients, and the broader market. United Capital is firmly positioned to operate at the highest standards demanded by the capital market and to pursue larger, more sophisticated opportunities within Nigeria and across the regions we operate.”
In compliance with regulatory requirements, the Group said it had submitted all audited documentation confirming full compliance with the revised capital framework to the SEC.
The strengthened capital base is expected to expand the operational capacity of the Group’s subsidiaries, enabling them to pursue larger mandates, broaden product offerings and manage larger investment portfolios. United Capital Asset Management’s achievement of the Tier 1 threshold of ₦10 billion also allows it to manage collective investment schemes and alternative investment funds with net asset values exceeding ₦250 billion.
The recapitalisation comes amid strong financial performance by the Group.
At the AGM, shareholders approved a final dividend of ₦0.70 per share, bringing the total dividend for the 2025 financial year to ₦1.00 per share, equivalent to ₦18 billion. The payout represents a 25 per cent increase on the ₦14.4 billion distributed in 2024.
United Capital also reported a 35 per cent increase in revenue to ₦58.55 billion and a 17 per cent rise in profit after tax to ₦28.15 billion. The Group said its assets under management exceeded ₦2 trillion, with all seven subsidiaries recording profitability during the financial year.
With its recapitalisation completed, United Capital said it plans to deepen its product offerings, expand its institutional and retail client base and accelerate its Pan-African growth strategy in 2026.
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