We aim to help you through the banking process and also provide answers about our products & services

General Frequently Asked Questions

The Federal Government of Nigeria (FGN) released a policy directing all banks to apply a Stamp Duty Charge of N50 when you receive N10,000 and above effective February 1, 2020. This fee is remitted straight to the Central Bank of Nigeria (CBN).

You can buy or sell shares through UBA Securities Limited. Please see their contact details below:
UBA Securities Limited
Customer Services
UBA House | 12th Floor
57, Marina
P. O. Box 2406,
Lagos, Nigeria
Email: ubastockbrokers@ubagroup.com
Telephone: +234-1-2808919

  • UBA’s financial year-end was originally March of each year. After the merger of UBA and STB, with effect from 1 August 2005, the bank’s financial year-end was changed to September. However, with the CBN policy on uniform year end, the reporting period is now December. In addition, UBA reports interim results of the group every three months to the Nigerian Stock Exchange and to shareholders in the Nigerian Press within 15 days after the expiration of the reporting period.

Currently UBA shares are listed on the floor of the Nigerian Stock Exchange. UBA also has an unlisted (Global Depository Receipt) programme currently administered by the Bank of New York Mellon

Yes you can. Kindly contact our registrars, Africa Prudential Registrars Limited to set this up. Please see their contact details below:
Business Development and Relationship
Management Unit
Africa Prudential Registrars Limited
220B, Ikorodu Road, Palmgrove
Lagos, Nigeria
Email: info@africaprudentialregistrars.com
Telephone: +234-1-4606460

Any enquiries of this nature relating to your shareholding should be directed to the Registrars who can be contacted at the addressed below:
Relationship Management Unit
Africa Prudential Registrars Plc
220B, Ikorodu Road,
Palmgrove, Lagos.
Office: +234-1-8205521, DL:014606479,
Mobile: +234-802-372-1200
E-mail: info@africaprudentialregistrars.com
Website: www.africaprudentialregistrars.com

The merger between United Bank For Africa Plc and Standard Trust Bank Plc came into effect on 1 August 2005.

The current tax legislation requires that a withholding tax of 10% be deducted at source from all dividend payments.

With effect from 24 July 1991, UBA has one class of ordinary shares, denominated in 50 kobo each. Each share has the same voting rights at annual general meetings and other shareholder meetings.

UBA has paid dividends consistently on its ordinary shares every year. UBA’s board believes in rewarding shareholders for their continued support and resolves to paying dividends when the bank reports profits.

UBA’s financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS), all relevant provisions of the Financial Reporting Council (FRC), as well as guidelines and circulars issued by the Central Bank of Nigeria (CBN) on the treatment of specific accounting issues.

Messrs PricewaterhouseCoopers (Chartered Accountants).

Any enquiries relating to the non-receipt of your dividend entitlement advice or dividend payment should be directed to the Registrars:
Relationship Management Unit
Africa Prudential Registrars Plc
220B, Ikorodu Road, Palmgrove, Lagos.
Office: +234-1-8205521, D/L:014606479,
Mobile: +234-802-372-1200
E-mail: info@africaprudentialregistrars.com
Website: www.africaprudentialregistrars.com

Dividends are declared in Nigerian Naira.

Two STB ordinary shares of 50 kobo each were exchanged for one UBA Ordinary share of 50 kobo each as contained in the scheme of merger approved by the shareholders.

The Annual General Meeting of UBA Plc holds at the beginning of every financial year. The policy of UBA is to hold its AGM as soon as the financial results have been audited and approved by regulatory authorities. With the recent change in financial reporting period to December, it is expected that the AGM would hold between March and May of every year, barring all unforeseen circumstances.

Apple Business Chat

LEO Apple Business Chat is an instant messaging service developed by UBA for Businesses. This service enables users sends messages over the Internet to the Leo, using their data. UBA Customers can carry out their basic banking and financial needs via an interactive and fun text as though they are texting with a friend. The service only works when the user has an Internet connection.

The platform is available to everyone that has an Apple Device – Both UBA and non-UBA customers. 
Note: As an existing UBA customer, you must be enrolled on SMS alert to enjoy this service.

To Activate Apple Business Chat on your iOS Device, go to your device Settings, select messages and turn on the Messages app service. Once activated, you can proceed with chatting Leo

You can open a UBA account on Leo ABC. It is easy and instant and the account can receive funds and transact immediately. No need to visit any UBA Business Office.

Note: A maximum of N50, 000 can be deposited into the new account at once and the account can only have a maximum of N300, 000 operating balance. For you to enjoy higher transaction limits, you will have to visit a UBA Business Office

Absolutely YES! You can enjoy more banking freedom of doing your banking transactions on the Apple Business Chat just by chatting with LEO.

The services available include: Balance Enquiry Check Balance, Mini Statement, Send Money, Prepaid card Funding, Buy Airtime, open a UBA Account, ATM/Branch locator, Complaints and other Banking Services.

The applicable charges are as tabulated below

Transaction/Service TypeFee Charge
ABC Subscription chargeN100 Monthly (1st Month is free)
Inter Bank Transfer
N/B: Staff account is free
Loading Prepaid CardN100
Account OpeningFree
Intra-Bank TransferFree
Airtime PurchaseFree
Check BalanceFree
Mini StatementFree
Bill PaymentN105
Statement to EmbassyN1,050 + (N21 *no of pages)
Statement to Other BanksN42
Transaction TypeAuthenticationDaily limit
Transfers & Bill paymentsPINMaximum N20,000
Transfers & Bill paymentsPIN + OTPMax. N200,000
Transfers & Bill paymentsSecure PassUp to N1,000,000 daily
Airtime Top-upPIN/OTP/
Secure Pass
Min of N100
Max. of N10,000
Other Services:
• Check Balance
• Mini Statement

If you open an online account on Leo, your limit is N50k per transaction. If you are unable to create PIN, then you will be limited to N10k per day using just OTP.
Note: Limits are subject to regulations and can be changed with/without notice

There is no maximum number of accounts that can be linked to the Leo Apple Business Chat profile provided the Customer ID or mobile number on all the accounts are the same.

Just type complaint on Leo Apple Business Chat interface and select the category (ATM Withdrawal, Money Transfer and Airtime Purchase), input the transaction details of the failed transaction, then a ticket ID will be generated to enable you track your complaint and expected TAT will also be advised.

You can request/stop/confirm Cheques, Lodge & Track complaints, Block card, profile your card when travelling abroad.

Leo on Apple Business Chat is protected with the best in-class security technology. It is safe and secure. To further protect your profile, do not share your Transaction Authentication Pin detail with a third party and your phone should be password protected. When in doubt, contact cfc@ubagroup.com.

Campus Ambassador

UBA reviews application from the online form and shortlists students that possess and demonstrated the requisite skills for the role.

An announcement would be made annually with respect to when registration may commence.

The campus ambassador permeates UBA into the lifestyle of youths on campus and constantly seek to identify new and innovative ways to maximise UBAs reach across universities in Africa and across other regions we have a presence.

This role is currently open to Nigerian students. We plan to roll out in other African countries soon

No. We accept applications across all disciplines. Be sure to communicate your eagerness to embrace new experiences and learn new skills proactively

One academic year, subject to renewal based on satisfactory performance.

We currently recruit 30 ambassadors on a yearly basis.

Yes, you can apply again in any subsequent year

The successful candidates would be invited for an orientation course at 57 Marina UBA Head Office, Lagos. UBA would cater for flight and travel logistics, feeding and accommodation.

Foreign Exchange (FX Mart)

The FX Mart service is available in all UBA Business Offices.

PTA stands for Personal Travel Allowance.
BTA stands for Business Travel Allowance.

No, UBA FX Mart will sell to both a ccount holders and walk – in customers.

Absolutely, as long as the quarterly limit for PTA/BTA is not exceeded. The US dollar is the base currency.

No, you can only purchase one allowance at a time.

Foreign exchange can be purchased by holders of Nigerian passports who are 18 years and above

Yes you can. The minimum purchase amount is $100 or it’s equivalent in other currencies.

At this time, FXMart only deals with the three major world currencies, US Dollar, British Pounds and the Euro.

GDR Programme

A shareholder wishing to convert Nigerian Stock Exchange-listed ordinary shares in to GDRs should, in the first instance, request that their broker contact the GDR Broker Desk at The Bank of New York. Contact details are:
Mark Lewis
Office: +44 207 163 7407

Damon Rowan
Office: +44 207 163 7511

Jac ek Jankowski
Office: +44 207 163 7427

  • A GDR is a negotiable certificate representing ownership of shares. GDRs are quoted and traded in US dollars. Also, the dividends are paid to investor in US dollars. GDRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by foreign investors.

In order to get a CCI on conversion of GDRs into ordinary shares, documentation must be submitted to The Bank of New York Mellon. Further contact information:
Mr Patrick Small.
Tel: +1 212 815 2783

Mr Neftali Alger.
Tel: +1 212 815 2037

All relevant documentation must be completed and submitted to:
The Bank of New York Mellon
101 Barclay Street
New York, New York 10286

Faxes sent for the attention of:
Mr. Patrick Small
Mr. Neftali Alger
Fax: +1 732 667 9101

Due to capital movement restrictions in Nigeria, a Certificate of Capital Importation (CCI) should be obtained by any investor in order to be able to repatriate funds out of Nigeria. Please note that CCI’s can only be issued to Non-Nigerian domiciled investors.

You can buy a GDR through a broker, just as you would any other security. If you need a broker, you can contact:
UBA Capital
3rd Floor,
2-4 King Street
London SW1Y 6QL
+44 207 766 4600

UBA runs a GDR programme to enable foreign institutional investors to hold and trade UBA shares without having to expatriate funds into Nigeria.
UBA has run a bifurcated GDR programme since 8 May 1998 under the CUSIPs 90953F104 (144A), symbol UBAFYP and 90953F203 (Reg S). On 20 March 2007, UBA issued new Reg S GDRs to international investors, under a temporary CUSIP 90953F302. It is anticipated that Early in 2008 the programmes will be merged under a single CUSIP.

The Bank of New York Mellon. The depositary bank plays a key role in the process of issuance and as cancellation of GDRs. It also maintains the GDR holder register and distributes the dividends in US dollars. For additional information, please visit our profile at the Bank of New York Mellon’s website here.

For additional information not contained on this website, please visit www.adrbny.com. Go to the DR Corporate Actions or DR Dividends Distribution buttons on the vertical scroll bar on the left and then enter company name, CUSIP or symbol.

The GDRs are preferred by some investors who are unable to hold Nigerian securities for compliance reasons or due to a lack of the appropriate infrastructure for holding an Ordinary share (a local custodian). The GDRs also trade, clear and settle according to international market conventions rather than those prevalent in Nigeria.

Dividends are paid in US dollars.

Investors receive annual reports and proxy materials in English.

The GDRs are traded Over-The-Counter. The ratio between the ordinary share and the GDR is 1:200.

Investor FAQ

UBA shares are listed on the Premium Board of the Nigerian Stock Exchange, with ticker symbol as “UBA”. The Bank also has an OTC-traded GDR programme (through The Bank of New York Mellon) which enables foreign institutional investors to hold and trade UBA shares without having to expatriate funds into Nigeria. Additional information on the GDR is available here

UBA daily share price information can be obtained here, or from the website of the Nigerian Stock Exchange through this link.

You will need the assistance of a licensed stockbroker to purchase UBA’s shares on the Nigerian Stock Exchange (NSE).  You can access a list of stockbrokers licensed by the Nigerian Stock Exchange here. The applicable steps are summarised below:

  • Step 1: Approach a licensed stockbroker to open a brokerage account, together with a Central Securities Clearing System (CSCS) account
  • Step 2: Submit required documents to the stockbroker
  • Step 3: Fund your brokerage account
  • Step 4: Submit your ‘BUY’ trade order through your stockbroker

Historical annual and interim financial reports of the Bank can be downloaded here.

The Bank holds its AGM two or three months after the financial year ends. The exact dates are typically announced by the Company Secretary through a press release.

Africa Prudential Plc
220B Ikorodu Road
Palmgrove Bus Stop, Palmgrove
Lagos, Nigeria
Phone +234-1-8752604

UBA Loans

Click credit

  • This is an Instant Loan Product that is fully automated end to end and is enabled on all our digital channels (USSD, Leo WhatsApp and Facebook, Mobile Banking and Internet Banking). It is available to all salaried individuals who receive their monthly emoluments through UBA.

  • To apply for the Click Credit, Dial the USSD Code *919*28# or type “Instant Loan” on any of the aforementioned digital channels.

To enjoy this product, you would need to operate a salary account with UBA. You could follow the easy steps provided by any of our e-channels which include:

  • USSD Short Code [*919*20#]
  • UBA Mobile Banking Application or
  • Chat with LEO
  • – Search for “UBACHATBANKING” on Facebook with the verified logo (Blue Tick).
  • – Send a “HELLO” to +2349030019007 on WhatsApp.
  • You could also walk into any of our Business Offices nearest to you to open one.

  • You can get up to N 5,000,000.00 (Five million naira)
  • You can enjoy flexible loan tenor up to 12 months.
  • No Processing and paperwork! Just dial away and obtain your loan in less than a minute!

  • To be eligible for the loan, customers must have received their salary through UBA for the last 6 months.

  • Confirmation status of applicant in the place of employment is not required for loan eligibility.

    • No documents required. Once again, just dial awayyyyyy!
  • You must have been receiving your salary through UBA for at least six months before you can be qualified for this product.

  • There are no fees on this product.

  • The applicable interest rate is 19% p.a. (1.58% monthly)

Personal loans

  • To apply for any of our loan facilities, kindly visit our dedicated lending platform Integrated Credit Express (ICE) https://ice.ubagroup.com:8463/kast le/ikastle.html

  • or walk into any of our Business Offices nearest to you or send an E-mail to your Relationship Manager and you will be guided appropriately.

  • To enjoy any of our loan facilities, you would need to open a salary account with UBA. You could follow the easy steps provided by any of our e-channels which include:

  • USSD Short Code [*919*20#]
  • UBA Mobile Banking Application or
  • Chat with LEO:
  • – Search for “UBACHATBANKING” on Facebook
  • – Send a “HELLO” to +2349030002455 on WhatsApp.
  • You could also walk into any of our Business Offices nearest to you.
  • You can get up to N 30,000,000.00 (Thirty million naira) depending on your salary and other set terms and conditions.
  • You can enjoy flexible loan tenor up to 60 months.
  • The UBA Personal Loan facility request takes about 48 hours for loan disbursement, upon receipt of all required documentation.

  • To be eligible to obtain a loan facility, the following criteria are to be met:

    • You must be a confirmed staff
    • Your employer must be on the approved list of organizations for Personal Loans

To obtain the UBA Personal Loan, you would need to provide the following documents:

  • A duly completed Loan Application Form.
  • A copy of your pay slip and bank statement of account indicating salary inflows in the last 6 months.
  • A letter of awareness from your current employer.

To be eligible to apply for the UBA Personal Loan Product, you must have been confirmed as a staff by your organisation.

Asset Finance

  • This product offers loans to customers whose salaries are domiciled with UBA for acquisition of assets of their choice from any of the approved vendors by the Bank.

  • With UBA Asset finance loan, you can acquire the following asset categories:

    • Home appliances
    • Electronic devices
    • Phones
    • Generators
    • Solar systems
    • Furniture
  • Yes, provided your income can support additional facility subject to approved percentage of your salary for loan repayment.

  • No. However, you can place independent loan requests to acquire assets from different vendors.

  • No, you do not need additional collateral for asset financing. Asset financed serves as the collateral.
  • Yes, there are after sales service on certain items as specified by the vendors.
  • Customer is required to make available a minimum equity contribution of 30% of the cost of asset to be acquired, whilst the Bank will provide the balance of the cost as loan.

Auto Loans

  • This product offers loans to customers whose salaries are domiciled with UBA for acquisition of automobiles from any of the approved vendors by the Bank.

  • With UBA Auto loan, you can acquire the following vehicles:

    • Mercedes
    • Honda
    • Hyundai
    • Kia
    • Suzuki
    • Benz
    • Ford
    • Toyota
    • Mitsubishi
    • Nissan
    • Volkswagen
  • Yes, provided your income can support additional facility subject to approved percentage of your salary for loan repayment.

  • No, you do not need additional collateral for auto financing. Vehicle financed serves as the collateral.

  • Yes, there are after sales service on vehicle financed as specified by the retailers.
  • Customer is required to contribute at the minimum 30% of the cost of vehicle to be acquired whilst the Bank will provide the balance of the cost as loan.

  • Yes, all financed vehicles will be insured by insurance companies approved by the Bank.


• We employ industry-proven standards and technologies to protect information in our computing environment.
• We protect our systems and networks from the Internet with Firewall systems.
• We use 128-bit SSL encryption technology to protect sensitive information that is transmitted over the Internet.
• We maintain a Global Digital Certificate signed by Verisign® that assures you are, in fact, communicating directly with UBA Bank.
• We control access to your information inside our company by limiting employee access to systems and data.

• Protect your username and password. Avoid choosing easily guessed words or numbers. Avoid writing your Sign In information in a place where others can view it.
• Use the “Sign Out” button to Sign Out from Online Account Access upon completion of your session and close your browser.
• Do not use email for account-specific questions. Email is not normally encrypted and your account information could be intercepted.
• Review your statement information regularly for unauthorized transactions.

• Phishing is an internet scam (spoof) in the form of an email or pop-up box. The emails and pop-ups link to sites that look like well-known legitimate businesses and ask you to provide and confirm personal, financial, or password information.
• Legitimate businesses do not ask for this information unless you initiate a request for a service. Please DO NOT RESPOND to these emails requesting personal identity, accounts or password information.
• Scam emails often contain misspelled words, poor grammar, awkward or unprofessional writing and typos.
• Be suspicious of urgent or alarming appeals that request security information.
• If you believe you have received a phishing email that claims to be from UBA Bank forward the suspicious email to cfc@ubagroup.com
• To learn other ways to avoid email scams and deal with deceptive spam visit the Federal Trade Commission site at www.ftc.gov/spam


The SME Business Account is designed to support micro, small and medium-sized businesses, which are deterred by CAMF charges to own a business current account. The UBA SME account will offer very minimum fees with lots of value-added propositions to enable MSMEs build capacity. The account is in three variants, representing different turnover bands and monthly fees.
All MSME sectors and segments with maximum annual turnover of N600MM
Each of the Variants have a band with a maximum limit at the Medium category.
Opening Balance 20,000 100,000 500,000
Monthly Minimum Turnover Band N2.5M-9.99M N10M-49.99M N50M-100M
Fixed Monthly Charge (VAT Inclusive) N1,050 N5,250 N10,500
Default CAMF (if turnover falls below Minimum Turnover) N1/Mille on Turnover N0.9/Mille on Turnove N0.8/Mille on Turnover
Cot free when customer achieves his/her minimum threshold.
Yes. You can do a scheme code change for an active account. You can also resuscitate dormant account into this new account.
Customer with turnover above 100 Million can do the medium VARIANT of the SME account. We will only charge such customer a concessionary CAMF of N0.6/mille for the excess of 100 million in a particular month.

There is no Minimum operating balance but a minimum opening balance.

Customer is charged the Fixed Monthly Charge for the width the customer exceeded into.
  • Fixed Monthly Charges
  • Access to business loans
  • On boarding on digital collection solutions
  • Access to MSME masterclasses and advisory.
  • Access to the bank’s SME events and fairs.
  • Access to a free online marketplace (as applicable)
  • Fixed Monthly Charges
  • Access to business loans
  • On boarding on digital collection solutions
  • Access to MSME masterclasses and advisory.
  • Access to the bank’s SME events and fairs.
  • Access to a free online marketplace (as applicable)

Teens Account

UBA Teens is a basic savings account for teenagers. The objective of the account is to give them a sense of inclusion in planning their finances, carrying out transactions and learning to save.

– 50% discount on first debit card issuance
– 13th Month Reward with a maintenance of an SI for 12 months at a minimum of N5,000 (Target-Plan). 10% of the monthly Target plan amount is paid to the customer
– Consistent maintenance of SI above N10,000 for 6 month stand a chance to partake in the Scholarship scheme
– Opportunity for Internship with the Bank

– Personal Account Opening Form (To be completed by parents with parent’s information or with guardian’s information)
– Signature Specimen form (To be completed by parent or guardian)
Documents required
– Birth Certificate or international passport of the child/teenager.
– One passport photo each of parent or guardian and child/teenager
– Valid and acceptable means of Identification for parent/guardian (e.g. Intl. Passport/Driver’s License/Voters Card)
– Recent Utility bill
– Minimum Opening Balance of N3,000
– Minimum Operating Balance of N 1,000

-The parent/ guardian till the child comes of age

Yes. First issuance is at a discount of 50%.

New-to-Bank Teen customers by completing the Teens Debit Card section of the Account Opening Form.
Existing Teen customers by completing the Teens Debit Card section of the Debit Card Request Form

The debit card is at 50% discount  for first issuance  and the standard charge applies for lost or expired cards.

Parents/guardians can monitor teens’ account activity including balance information and recent transactions through online banking/Mobile App/USSD.

Yes. As the signatory on the account, you can transfer money from your child’s account to another account at UBA.

Yes. You can either deposit cash or transfer into the account.

Yes. But Only from a full KYC Teens account

Transaction limits can only be defined and changed by parents/guardians. In addition, parents/guardians can monitor teens’ account activity through online/mobile/USSD banking.

Yes. But only for a full KYC Teens account

The 13th month reward is an amount paid to UBA Teens customers at the end of each year. If they save according to their target plan and roll over their balance to the next year (not withdrawn). Kindly submit a standing instruction of a minimum of N5,000 to begin.

NO, you will not qualify for the 13th month bonus if you do not have a target savings plan

If you withdraw funds early, you will not be eligible for the 13th month bonus that year.

However, your plan will remain in effect and you can be eligible the following year if you stick to your plan. In this case, your plan will revert to Year 1, so you will be eligible for a 10% bonus that year.

Yes, you will earn competitive interest on the accumulated funds in your account even if you do not achieve your target plan –however you will no longer be eligible for the 13th month bonus.

To begin, simply maintain a Standing Instruction of minimum of N10,000 for 6 consecutive months (Without withdrawals)

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