Titan Trust Bank has officially ceased operations in Nigeria.
NewsOnline Nigeria reports that Titan Trust Bank Limited has officially ceased operations in Nigeria following its full absorption into Union Bank of Nigeria, marking a major shake-up in the nation’s financial sector.
This Nigeria news platform understands that the Central Bank of Nigeria (CBN) approved the consolidation, which transfers all of Titan Trust’s assets and operations to Union Bank, effectively ending Titan Trust’s existence as an independent entity.
ALSO: Union Bank Completes Merger With Titan Trust Bank After CBN Approval
Union Bank confirmed the development in a statement issued by its Head of Brand and Marketing, Mrs. Olufunmilola Aluko, noting that the combined institution will continue under the Union Bank brand.
Customers have been assured of a seamless transition, with no changes to account details or access to services. Titan Trust Bank also updated its digital platforms with the message: “Titan Trust Bank is Now Union Bank of Nigeria!”
The merger combines Union Bank’s 108-year legacy with Titan Trust’s innovation, creating one of Nigeria’s top-tier financial institutions with over 293 service centres, 937 ATMs, and more than 8 million customers nationwide.
The deal follows Titan Trust’s acquisition of Union Bank in 2022 and subsequent regulatory scrutiny, including a CBN investigation and leadership shake-up. With this consolidation, Union Bank is now positioned among Nigeria’s top ten banks by assets as lenders race to meet the CBN’s 2026 recapitalization deadline.
