Union Bank

Union Bank of Nigeria has operated since 1917, and its recent history has been shaped by a regulatory intervention: in January 2024, the Central Bank dissolved the bank's board and management, alongside those of Keystone and Polaris Bank, citing governance non-compliance tied to questions around Titan Trust Bank's earlier acquisition of a controlling Union Bank stake. The CBN appointed Yetunde Oni as Managing Director in the aftermath, a banker with more than 30 years of experience including an 18-year career at Standard Chartered, where she became the first female MD/CEO of Standard Chartered Bank Sierra Leone in January 2021. Under her leadership the bank has reported successive periods of growth, including roughly 50% income growth and 116% profit-before-tax growth in 2022, followed by further gains of 49% and 43% respectively in 2023.

Despite the governance disruption, the underlying merger between Titan Trust Bank and Union Bank proceeded, receiving final regulatory approvals and completing in September 2025, with Titan Trust Bank ceasing to exist as a standalone entity and all its branches transitioning into Union Bank. The combined institution reported approximately 293 service centres and 937 ATMs nationwide following the merger.

Union Bank's position within the Central Bank's 2024–2026 industry-wide recapitalisation programme was addressed through the completed merger, an arrangement industry trackers recognised as satisfying the ₦500 billion capital requirement ahead of the deadline. The bank operates the Union Bank Edu360 platform supporting teachers and students, alongside programmes in financial literacy, women's empowerment, and environmental sustainability, and has previously won Global Finance's award for Best SME Bank in Nigeria.