Banks’ capital raise reinforces balance sheet transparency – UBA GMD

The Group Managing Director of United Bank for Africa Plc and Chairman of the Body of Bank CEOs in Nigeria, Oliver Alawuba. Photo: UBA

The Group Managing Director of United Bank for Africa Plc and Chairman of the Body of Bank CEOs in Nigeria, Oliver Alawuba, has outlined a blueprint for building a resilient Nigerian economy, calling for deliberate policies and stronger public-private collaboration to transform economic stability into inclusive prosperity.

Alawuba made the call while delivering a goodwill address at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja on Tuesday.

Speaking on the theme, ‘Building a Resilient Economy in an Era of Disruptions: Imperatives for the Banking and Financial Services Industry,’ he noted that resilience must be intentionally embedded across national policies, institutions, infrastructure, supply chains, energy systems, and human capital.

According to him, a resilient economy is not one immune to shocks, but one capable of absorbing, adapting to, and advancing through disruptions without shifting the financial burden onto vulnerable citizens.

He highlighted ongoing global macroeconomic headwinds, including geopolitical tensions, shipping market volatility, and persistent inflationary pressures, as factors underscoring the need for proactive structural buffers.

Alawuba commended the Federal Government and the Central Bank of Nigeria for improved fiscal and monetary policy coordination, noting that positive trends in key economic indicators represent vital steps toward stabilisation.

He, however, stressed that macroeconomic recovery must translate into broader commercial opportunities and improved living standards for citizens.

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Describing commercial banks as the country’s primary financial shock absorbers, the UBA boss disclosed that 33 banks successfully mobilised N4.65tn during the recent recapitalisation exercise. He stated that the capital raise significantly reinforced balance-sheet transparency, capital adequacy, and liquidity required to finance large-scale infrastructure and real-sector projects.

He added that operational resilience within the banking sector is being deepened through heavy technology investments, noting that four tier-one banks deployed over N119bn into digital infrastructure and cybersecurity in the first quarter of 2026, marking a 43.2 per cent year-on-year increase.

Also speaking at the conference, President Bola Tinubu, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, urged financial institutions to look beyond profit margins and channel patient capital toward job-creating enterprises.

The President stressed that the next phase of ongoing reforms centers on transitioning from basic financial intermediation to real economic transformation through accessible credit and technology-driven financial inclusion.

On his part, the Governor of the CBN, Olayemi Cardoso, represented by the Deputy Governor, Economic Policy Directorate, Mr Philip Ikeazor, reaffirmed the central bank’s commitment to maintaining financial system stability to anchor recovery.

Similarly, the World Bank Country Director for Nigeria, Mathew Verghis, tasked commercial lenders with expanding credit facilities to productive micro, small, and medium-scale enterprises.

Earlier in his opening address, the President and Chairman of Council, CIBN, Prof. Pius Olanrewaju, noted that the ultimate benchmark of economic reform lies in lower living costs, expanded job opportunities, and affordable single-digit credit for businesses.