United Bank for Africa (UBA) has clarified that a fire outbreak at Afriland Tower, a commercial building located on Broad Street, Lagos Island, only affected one of its branches, and not the iconic headquarters building.
The incident, which occurred on Tuesday, sparked panic in the area and led to widespread speculation online, with some reports erroneously claiming that the bank’s corporate headquarters had been affected.
“We are aware of the fire incident at a building on Broad Street, Lagos Island, which incidentally houses one of our many branches,” UBA stated. “As against reports online and social media, the affected building is not the UBA House, Marina, the bank’s head office.”
Necessary Safety Protocols Activated
The bank confirmed that all necessary safety protocols were activated immediately to safeguard the lives and property of its staff and customers.
“We have ensured the safety and well-being of our staff and customers in the branch,” the statement added.
Origin of the Fire
The Lagos State Fire and Rescue Service (LSFRS) said the fire originated from the inverter room located in the basement of the building.
According to Ogabi Olajide, Deputy Controller General of the service, an emergency call was received at 1:38 p.m., prompting the deployment of firefighting teams from Ebute Elefun and Sari Iganmu stations.
“The fire originated in the inverter room located in the basement of the building while smoke spread across multiple floors and engulfed the structure,” the LSFRS posted on X (formerly Twitter). “Evacuation of occupants is in progress, while firefighting operations have been concluded, dousing the earlier panic before the arrival of the first responders.”
Eyewitnesses reported scenes of chaos as workers and visitors fled the six-storey building, which houses several businesses, including a UBA branch.
As of press time, no casualties had been reported, though LSFRS officials confirmed that assessments were ongoing to determine the extent of the damage.
The Lagos State Fire Service added that a total of nine victims have been rescued, and five individuals successfully resuscitated.
“Several others escaped unhurt, while efforts are currently ongoing to resuscitate the remaining four individuals,” a Tuesday night update reads.
What You Should Know
The fire incident came barely three days before the September 19 close date of the bank’s N157 billion rights issue application.
- UBA had announced an extension of its ongoing rights issue application, originally scheduled to close on Friday, 5th September 2025.
- This move is part of UBA’s effort to strengthen its capital base in line with the Central Bank of Nigeria’s recapitalization directive.
The rights issue involves 3,156,869,665 ordinary shares of 50 kobo each, priced at N50 per share, through which the bank intends to raise over N157 billion.
