Union Bank of Nigeria Finalizes Merger with Titan Trust Bank

Union Bank of Nigeria, one of the country’s most established financial institutions, has officially completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).

This milestone, which began with the signing of a Share Sale Agreement in 2021, cements Union Bank’s position as a stronger player in Nigeria’s financial services sector. Under the terms of the merger, Titan Trust Bank’s operations and assets have been fully integrated into Union Bank. The combined institution will continue under the Union Bank brand, while Titan Trust Bank ceases to exist as a standalone entity.

With an expanded nationwide network of 293 service centres and 937 ATMs, alongside strengthened digital platforms, Union Bank is set to deliver greater value to customers across retail, SME, and corporate segments. The merger blends Union Bank’s heritage and stability with Titan Trust’s dynamism and innovation, creating a future-ready institution built for sustainable growth and wider financial inclusion.

Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the merger as “a pivotal moment in our 108-year journey and a launchpad for delivering greater value to our customers. By combining stability with innovation, we are better positioned to meet the evolving needs of Nigerians and remain their most trusted financial partner.”

Chairman of the Board, Mr. Bayo Adeleke, added: “This is the beginning of a new era of growth, collaboration, and shared prosperity. By uniting the strengths of both banks, we are committed to creating lasting value for customers, shareholders, and communities, while advancing financial inclusion across Nigeria.”

Union Bank has assured customers that there will be no disruption to services. Account details remain the same, and customers will continue to enjoy seamless access to the Bank’s full suite of products, with an accelerated rollout of enhanced digital solutions.

This strategic consolidation strengthens Union Bank’s market position, unlocks operational synergies, and reinforces its ambition to deliver a modern, robust, and inclusive banking experience for all Nigerians.