UBA Clarifies Broad Street Fire Incident, Confirms Headquarters Unaffected

UBA has clarified broad street fire incident and confirmed that their headquarters is unaffected.

NewsOnline Nigeria reports that United Bank for Africa (UBA) Plc has clarified reports surrounding Tuesday’s fire outbreak at Afriland Tower on Broad Street, Lagos Island, stating that only one of its branches located in the building was affected not its Marina head office.

The incident, which triggered panic in the busy commercial district and fueled online speculation, had initially been misreported by some outlets as involving UBA’s iconic headquarters.

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“We are aware of the fire incident at a building on Broad Street, Lagos Island, which incidentally houses one of our many branches,” UBA said in a statement. “Contrary to claims on social media, the affected building is not UBA House, Marina, which remains fully operational.”

Safety Measures in Place

The bank confirmed that immediate safety protocols were activated, ensuring the protection of staff and customers. “We have ensured the safety and well-being of our staff and customers in the branch,” the statement added.

How the Fire Started

According to the Lagos State Fire and Rescue Service (LSFRS), the blaze originated from the inverter room in the basement of Afriland Tower. Officials said smoke quickly spread through multiple floors, leading to frantic evacuations before firefighters brought the situation under control.

Ogabi Olajide, Deputy Controller General of LSFRS, disclosed that the emergency call was received at 1:38 p.m., prompting the deployment of fire teams from Ebute Elefun and Sari Iganmu stations.

“The fire originated in the inverter room while smoke engulfed several floors of the six-storey building,” LSFRS confirmed in an update on X (formerly Twitter). “Evacuations were carried out swiftly, and firefighting operations have since been concluded.”

Eyewitnesses described chaotic scenes as tenants and visitors fled the building, which accommodates several businesses, including UBA’s Broad Street branch.

Casualties and Rescues

 

As of press time, no fatalities had been reported. The Lagos fire service confirmed that nine victims were rescued, with five resuscitated, while efforts were ongoing to stabilize four others.

Link to UBA’s Ongoing Rights Issue

 

The fire incident comes just days before the September 19 closing date for UBA’s ongoing N157 billion rights issue. The bank recently announced an extension of the exercise, which was originally scheduled to end on September 5, as part of efforts to strengthen its capital base in compliance with the Central Bank of Nigeria’s recapitalization directive.

The rights issue covers 3,156,869,665 ordinary shares of 50 kobo each at N50 per share, through which UBA seeks to raise over N157 billion.