Nigeria, June 16 -- United Capital Group, a leading Pan-African investment banking and financial services group, has completed the acquisition of a 5 per cent equity stake in the Nigerian Exchange Group (NGX Plc).

The transaction was successfully concluded, marking a significant milestone in the Group's long-term growth strategy, the company stated in a regulatory filing on Monday.

The acquisition secures a significant ownership stake for the Group in the capital market platform, NGX.

This development follows a series of strategic milestones for the group, including the successful recapitalisation of all its subsidiaries well ahead of regulatory deadlines and the recent acquisition of operational licences in Ethiopia and Rwanda.

The E...