The United Bank for Africa (UBA) has said it had suspended plans to sell shares to raise additional capital due to weak condition of the capital market. Reuters quoted the Group Managing Director/Chief Executive Officer, UBA, Mr. Phillip Oduoza, to have made this remark during an investors’ conference call to explain the bank’s results. Oduoza said: "The Board and management have suspended our equity capital raising at this point in time pending when capital markets improve." UBA had on Wednesday said it would record a profit before tax of NGN15.1bn for the first quarter ended March 31, 2012, showing a recovery from a loss envisaged for the full year 2011 financial year. The bank had issued a profit warning that it would announce a loss for 2011 driven principally by one-off provisioning and write-offs. Meanwhile, a Lagos-based business woman - Mrs. Juliana Onuoha, had emerged star prize winner of USD10,000 in the United Bank for Africa (UBA) and Western Union Money Transfer end-of-year promo. The final draw of the promo tagged, ‘Bumper Cash Harvest,’ was held at the UBA head office in Lagos on Wednesday. The draw was monitored by the Nigerian Lottery Regulatory Commission. The promo, which commenced on October 16th 2011 and ended on January 31st 2012, also rewarded other loyal customers of the international money transfer services through the channels provided by UBA both in Nigeria and ten other African countries. Other winners that emerged at the draw held at UBA House Marina, Lagos included; Chidi Alisobi and Julius Ajaga who won USD5,000 dollars respectively. In addition, while five other customers won USD1000 each, another set of 10 customers won USD500. Speaking during the draw, Divisional Head, e-Banking and Retail Liabilities, UBA, Mr. Luqman Balogun, said the promo was initiated with a view to rewarding loyal customers of Western Union Money Transfer Services, who receive proceeds from any of UBA’s branches nationwide. “Today, UBA is one of the leading Western Union Agents on the continent. This collaboration has a fit with our commitment to connect Africans and African businesses globally, with each other,” he added.