The Central Bank of Nigeria (CBN) has granted final approval for the merger between Union Bank of Nigeria Plc and Titan Trust Bank Limited, completing a process that began in 2021 with the signing of a share sale agreement as cited by the Guardian Nigeria.
According to a statement by Olufunmilayo Aluko, Union Bank’s Chief Brand and Marketing Officer, the consolidation officially transfers Titan Trust Bank’s assets and operations to Union Bank, which will continue to operate under its historic brand name.
Titan Trust will cease to exist as a separate entity.
With the merger, Union Bank now boasts over 293 service centers and 937 ATMs nationwide, alongside enhanced digital banking channels. The expanded network aims to strengthen the institution’s capacity across retail, SME, and corporate segments.
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Union Bank’s Managing Director and CEO, Yetunde Oni, described the development as “a pivotal moment in our 108-year journey and a launchpad for delivering greater value to our customers.”
She emphasized that combining Union Bank’s heritage with Titan Trust’s innovative drive creates a stronger platform for financial inclusion and sustainable growth.
The bank’s Chairman, Bayo Adeleke, also noted that the merger signals “a new era of growth, collaboration, and shared prosperity,” highlighting its potential to create lasting value for customers, shareholders, and communities.
Union Bank further assured its customers that account details remain unchanged, and services will continue uninterrupted, with greater emphasis on digital solutions.
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