September 1, 2025 — Union Bank of Nigeria Plc has officially completed its long-awaited merger with Titan Trust Bank Limited, a move that marks one of the most significant consolidations in Nigeria’s banking sector in recent years.
The Central Bank of Nigeria (CBN) and other relevant regulators have granted final approvals for the transaction, paving the way for the two institutions to operate as a single, stronger financial entity.
The merger follows Titan Trust Bank’s acquisition of a majority stake in Union Bank, a deal that has been in motion since 2022. With this consolidation now finalised, the combined institution is expected to leverage Union Bank’s legacy of over a century in Nigerian banking alongside Titan Trust’s innovation-driven model to expand its market share and strengthen competitiveness.
Industry analysts say the merger will enhance capital strength, improve efficiency, and broaden access to financial services across the country. Customers of both banks are expected to benefit from a wider range of digital banking solutions, increased lending capacity, and expanded branch networks.
This consolidation adds to the wave of restructuring in Nigeria’s financial services sector as banks position themselves to meet regulatory requirements and compete in an evolving economic environment.