In Nigerian banking, words speak softly, but money shouts. Tony Elumelu just made a ₦43.9 billion statement, acquiring over 1.2 billion additional UBA shares in two days. While others hesitate amid regulatory changes, the billionaire chairman is buying more of his own institution. This isn't just an investment—it's confidence speaking through action.
When uncertainty clouds markets, those with the most profound knowledge often buy more, not less.
Key Developments:
- ₦43.9 billion investment in 1.2 billion UBA shares acquired within 48 hours in late May 2025
- Additional ₦1.53 billion spent on 45 million shares just days earlier, showing sustained confidence
- The regulatory timing coincides with UBA's ₦144.8 billion capital raise to meet the CBN's requirements.
- Market positioning strengthens Elumelu's control as the primary shareholder during the banking sector transition.
Elumelu's billion-naira actions contradict nervous market sentiment, suggesting UBA's prospects look stronger from the chairman's seat than from external trading desks. True confidence doesn't wait for certainty—it invests through uncertainty.
