Union Bank, Titan Trust Seal Merger After Four Years

Union Bank of Nigeria has completed its long-awaited merger with Titan Trust Bank, four years after the two institutions signed a share sale and purchase agreement.

The Central Bank of Nigeria (CBN) gave final approval for the transaction, paving the way for Titan Trust’s full absorption into Union Bank. The combined entity will now operate under the Union Bank name, bringing to an end Titan Trust’s short but impactful existence as a standalone brand.

With the merger, Union Bank strengthens its position as one of Nigeria’s oldest and most expansive financial institutions. The bank now boasts more than 293 service centres and 937 ATMs nationwide, alongside upgraded digital platforms targeted at retail, SME and corporate customers.

Chief Executive Officer Yetunde Oni described the development as a “pivotal moment in our 108-year journey,” noting that the integration of Titan Trust’s dynamism with Union Bank’s heritage creates a stronger platform for innovation and customer service.

Board Chairman Bayo Adeleke hailed the merger as the dawn of “a new era,” while Chief Brand and Marketing Officer Olufunmilola Aluko said it strategically places the bank in a stronger position within Nigeria’s evolving financial landscape.

The deal, first initiated in 2021, comes amid a wave of consolidation in the sector as banks race to meet the CBN’s March 2026 minimum capital requirement deadline.

Union Bank assured customers that account details remain unchanged and services will continue seamlessly, with a renewed focus on digital solutions and financial inclusion.

The bank is also pursuing a delisting from the Nigerian Exchange, a move consistent with its restructuring plans following the merger.