Titan Trust Bank completes takeover of Union Bank

“With the completion of the transaction, TGI Group, parent of TTB, now becomes the majority shareholder and core investor in Union Bank."

Titan Trust Bank Limited has brought to closure the deal enabling it to purchase a controlling stake in Nigeria’s second-oldest lender, Union Bank of Nigeria, the latter said Thursday in a regulatory filing, almost half a year after an agreement was reached by both parties.

The lender, backed by a former Central Bank of Nigeria deputy governor, Tunde Lemo, set out to acquire 89.4 per cent interest in Union Bank from a pool of stakes from exiting major investors including British Virgin Islands-based Atlas Mara and Union Global Partners Limited, but later upped the stake to 93.4 per cent.

Even though no mention of it is made in the statement seen by PREMIUM TIMES, a name change could follow.

“With the completion of the transaction, TGI Group, parent of TTB, now becomes the majority shareholder and core investor in Union Bank,” the document said.

The ownership transfer excludes Union Bank UK, a subsidiary of Union Bank of Nigeria, which also has been sold off, with the proceeds of divestment to all the shareholders of the latter as of March 4, 2022.

In the spirit of the change of ownership, the members of Union Bank’s board have exited the bank.

https://www.premiumtimesng.com/news/headlines/534317-just-in-titan-trust-bank-completes-takeover-of-union-bank.html

Only remaining China to come take over Nigeria...

Fake news

It's been a long time coming.

This horse is finally dead.

The lesson in this is that change is the only constant thing in nature and whoever fails to flow with the tide gets swept by it.
The management team of this old bank failed to adjust to the current realities of modern banking and paid dearly for that grave mistake.

Pharaoh’s dream of lean cows swallowing well fed ones is coming to pass again....in our life time

Greatness runs deep in all Yorubas, it is our Natural. Our younger Generation that were lately deceived to believed in YahooPlus and rituals should know our History of how Awolowo and others became Great by Serving/Developing Yoruba People and Yoruba Land.

I sincerely wish the ediot below me would for once accept Historical Truth, and focus on becoming better than his father, instead of still shamelessly trying to twist History to change Narrative as they usually do. He has never said this kind of stupidly concocted big Lie on this Forum before. What evious sad Souls like you don't know is that a Lie is forver a Lie, and even if you succeeded in deceiving some gullible People with it for a while, Truth would eventually Surface and Disgrace a Lie. Every wise Child acknowledges the mistake of his father and Focus all efforts on not repeating them. History don't Lie, the Historical Books are there for us all Younger Generation to verify.

The Genesis is it all: Before Britain gave us independence, Nigeria was majorly: Northern Region headed by Sadauna, Eastern Region headed by Aziikwe, Western Region headed by The Great Masses-loving Obafemi Awolowo. By 1960 Awolows's Fame has greatly Spread all over Africa, Great Britain and to all the Western World as the first African to do things that only white People thought they should have on their Lands. Azikwe's envy for the famous great Glory that came upon Awolowo as a result of his Achievements and Developments which he Speedily brought upon Yoruba Land as the best genuine Masses-loving Regional Prime Minister (while Azikwe was busy greedily stealing and massively aquiring most juicy Igbo Lands for himself using his Power as the head of the Region) made him to incurably Envy Awolowo till Death. While the greedy Soul called Azikwe was focused on robbing his own Igbo People blind, Awolowo started First ever Absolutely Free Education in Africa (in Yoruba Land), First Radio Station ever in West Africa (in Yoruba Land), first ever Television Station in West Africa (in Yoruba Land), first ever Skyscraper in Africa (Cocoa House still Standing Tall in Ibadan), Textile Company, Ouwa Glass Company where Vehicle Windscreen, home glasswares, etc are being Produced, First ever Tyre Manufacturing Company in West Africa, the very first Car Assemblying Company known then as Leyland now Vokwageen(in Yoruba Land), etc. All these made Kwame Nkruma of Ghana to trace Awolowo to Nigeria and made him his best Friend. He went back to Ghana and started doing every infrastructural Developments that him and Awolowo opened his eyes to.

Till today, Nkwame Nkruma is the best President that Ghana ever had, and Awolowo is the Best Vice President and President Nigeria never had. The Hydro Power and all the basic Amenities he did then are still what they are still using till date. When Azikwe had ganged up with the North to frustrate Awolowo from later becoming President, he passed on his Vision for Atomic Energy Electricity Generation to his Kwame his friend in Ghana. Kwame started it and then the Colonial Masters say African should never be greater than them, they soon use another Ghana's "Azikwe incanate" to kill Kwame Nkwuruma.

Azikwe greened with Cancerous Envy for the great African Sage ever liveth, our beloved Obafemi Awolowo. Even when earlier on Awolowo humbly went to submit to him with an Oath that they Took which bind them together that they should both join forces to become the First Political Leaders of Nigeria, Awolowo submitted that he would be the Vice to Azikwe so that they can both make Nigeria Great, the satanic sad Soul called Azikwe was just feeling too less-intelligent, timid and insecure that he next day went to the Northerner next betray and SUBMIT himself as deputy. What a height of self-destructive Envy! Yes, that was exactly what Azikwe did! He felt like even if he occupied the Nigerian No 1 position which Awolowo vowed to help him to clinch because he New the Danger of Allowing the Southern Enemy to rule, the Whole World would still have praised Awolowo somehow, the Achievements and Greatness that would have happened all over Nigeria then would still have been traced to Awolowo as the Genuine Masses-loving Visionary Leader. At least the Glory would have largely being that of Azikwe as the Number 1 and all Nigerians would have been feeling more Respected than Americans by now. But senseless Cancerous Envy made Azikwe put Nigeria into this bondage till Date.

OfoIgbo:


Pa Mbazuluike Amaechi has already told everyone that wishes to know, that Zik decided to join the north in an alliance, because they noticed Awolowo was playing both sides.
Awolowo was secretly negotiating with NCNC and NPC, unbeknown to both parties. Once this betrayal was discovered by both the Azikiwe and Ahmadu Bello, Zik decided to forge ahead with the north.

The same cunning attitude of the Yorubas is repeating itself in the dispensation. Tinubu running for presidency when he could have easily supported the SE claim, and the north wouldn't have been able to muster courage to upturn that, as the 3 southern regions would have been speaking in unison.

Union Bank, bought over by one corrupt Nigerian.

I almost pronounce it has Titus bank.
This will lead to another lay off.
If you are a bank worker or aspiring to be one,the first day of your resumption,you should start planning your exit.

RIP to Union

Let them come & carry the horse in our coat of arms too. We will gift them the eagle too, so that Nigeria go finally separate. Lol

Ok.

Reminds me of that great advertorial skit - Big, Strong, Reliable!!! Adios Union Bank, it's all good.

The world is an ocean..the smaller fishes get swallowed by the bigger ones

one day we sef go get shares for big companies..In Sha Allah

The horse finally galloped away

My shares are gone.

They need to change the name.

Some names simply won't sell market.

'Union bank' sounds old, lethargic, and uninspiring.

Union Bank has since been on extra time

nkemoma:
RIP to Union

My brother wow

Who says small bombom no dey shake?

DrAkpa:


Afonjas and tribalism killed this bank.

Anything afonjas touch, perishes...

First bank next

People like you are driving intelligent folks away from Nairaland. Your comment is moronic.

Union Bank my bank. i hope my money is safe o

Retirees bank

FUN FACT:

DO YOU KNOW THAT 99.9999% OF PEOPLE ON NAIRALAND COMMENT JUST TO GET LIKES.

Congratulations. Who is Bankrolling TTB in this arena. I repeat who's the Baba isale.

Weldone a good omoluabi,we are taking over fidelity bank next

Ok naa.
..
..
FAREWELL TO THE OLD WRIGGLY-HORSE BANK