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UBA of Nigeria Plans to Acquire Banks in Africa, Punch Reports

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Feb. 21 (Bloomberg) -- United Bank for Africa Plc, a Nigerian lender, plans to acquire lenders in different regions on the continent, Punch reported, citing Managing Director Phillips Oduoza.

The bank will raise equity for the investments once conditions in the Nigerian market improve, the Lagos-based newspaper said.

To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net

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