By Ayomide Otitoju
Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The transaction, which began with the signing of a Share Sale Agreement in 2021, formally consolidates Titan Trust’s operations into Union Bank. The combined entity will operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate institution.
According to Olufunmilayo Aluko, Union Bank’s Chief Brand and Marketing Officer, the integration marks a significant milestone that positions the bank as a stronger force within Nigeria’s financial services sector. With a network of more than 293 service centres, 937 ATMs, and strengthened digital channels, the bank is poised to deliver enhanced value across retail, SME, and corporate segments.
“The merger blends Union Bank’s heritage with Titan Trust’s innovation and agility, creating a platform for sustainable growth and broader financial inclusion,” Aluko said.
Board Chairman, Bayo Adeleke, described the development as “a new era of growth, collaboration, and shared prosperity,” pledging to deliver lasting value to customers, shareholders, and communities while advancing financial inclusion in Nigeria.
Union Bank’s Managing Director and Chief Executive Officer, Yetunde Oni, called the merger “a pivotal moment in our 108-year journey,” noting that the integration provides a launchpad for delivering greater value by combining stability with innovation.
The bank assured customers of seamless continuity in services, with no changes to account details. It also reaffirmed its commitment to accelerating digital transformation to better meet the evolving needs of Nigerians.
