September 01, (THEWILL) — Union Bank of Nigeria, one of the country’s oldest financial institutions, has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria.
In a statement on Sunday, the bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko, said the milestone concluded a process that began with the signing of a share sale agreement in 2021, positioning Union Bank as a stronger player in Nigeria’s financial services sector.
Under the merger terms, Union Bank has fully absorbed Titan Trust Bank’s operations and assets.
The combined institution will continue to operate under the Union Bank brand, while Titan Trust ceases to exist as a separate entity.
With an expanded network of over 293 service centres and 937 ATMs nationwide, supported by upgraded digital platforms, Union Bank said it is now better equipped to deliver enhanced value across retail, SME, and corporate banking.
The consolidation blends Union Bank’s heritage with Titan Trust’s innovation, creating a platform for sustainable growth and broader financial inclusion.
Union Bank’s Managing Director and Chief Executive Officer, Yetunde Oni, described the development as a turning point in the bank’s 108-year history.
“This is a pivotal moment in our journey and a launchpad for delivering greater value to our customers. By blending stability with innovation, we are better positioned to meet the evolving needs of Nigerians and remain their most trusted financial partner,” she said.
Also commenting, Chairman of the Board of Directors, Bayo Adeleke, said the merger ushers in a new era of growth and collaboration.
“By bringing together the strengths of both institutions, we are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda,” he noted.
The bank assured customers that services will continue seamlessly, with account details unchanged and access to a full suite of products guaranteed.
It added that the merger would accelerate digital solutions and strengthen market competitiveness.
Union Bank said the consolidation underscores its ambition to deliver a modern, robust, and inclusive banking experience for Nigerians.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
