• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Financial Services

Afreximbank supports Titan Trust Bank with $300million for acquisition of Union Bank

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
June 6, 2022
in Financial Services
Introducing ATG, suite of 5 digital platforms by Afreximbank

Benedict Oramah (President of Afreximbank)

Share on FacebookShare on TwitterShare on Linkedin

Titan Trust Bank (TTB) has received a $300 million Intra-African Investment Financing Facility from Afreximbank to help it acquire a controlling share in Union Bank of Nigeria (UBN) plc.

This was disclosed in a statement signed by Amadou Sall, Afreximbank’s Media Contact, on Monday.

The agreement, according to Sall, will improve the competitive dynamics of the Nigerian banking market while retaining confidence in the country’s financial services and overall financial stability.

RelatedStories

Salesforce Layoffs: Tech giant trims 300 jobs amid restructuring efforts

Afreximbank targets ‘billions of dollars’ funding deals at 2025 Annual Meetings in Abuja   

June 21, 2025
AfreximBank approves $200 million finance facility to BUA Group for expansion projects 

Afreximbank disputes Fitch’s negative outlook, defends financial position in Africa 

June 10, 2025

What Afreximbank is saying

The statement reads, “African Export Import Bank (Afreximbank) has announced the disbursement of a US$300 million Intra-African Investment Financing Facility to Titan Trust Bank (TTB) to support its acquisition of a majority stake in Union Bank Plc, Nigeria (UBN).”

He said the recently disbursed facility would complement the funds required for the proposed acquisition.

“Afreximbank’s financial support enables TTB to secure the acquisition of a well-capitalised bank with an extensive network, enabling the entity to better serve vital economic activities of the public sector, companies, and small and medium-sized enterprises,” he stated.

TTB is a member of the Tropical General Investment (TGI) Group, which is a Pan-African conglomerate with diversified investments in various industries across seven African countries and a large network of origination, distribution, and supply chain hubs, according to Sall.

TTB would use the UBN acquisition to boost its capacity to take advantage of the African Continental Free Trade Area’s unrivalled potential, he said (AfCFTA).

Sall said Afreximbank would continue to support the newly merged entity in trade finance to promote intra- and extra-African trade through its broad range of programmes and initiatives.

He said, “The development impact of the acquisition is immense as TTB will leverage the merged entity to provide financing of about three billion dollars over the medium term of which over 600 million dollars will directly support intra-regional trade finance.’’

“The bank remains committed to enhancing the position of indigenous financial institutions,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, according to the statement.

According to Oramah, this would give Africa more control over its financial markets and strengthen the continent’s economic resilience.

“As international capital retreats from Africa, we must redouble our efforts to build an effective and resilient financial services sector on the continent committed to intra-African trade and investments and the development of regional value chains.

“Afreximbank is confident that the transaction will engender confidence in the Nigerian financial system and attract additional capital investments.It would also support the financial inclusion of small-scale enterprises, women-led businesses, youth enterprises and start-ups which are critical to the successful implementation of the AfCFTA’’.

What you should know 

  • African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.
  • Titan Trust Bank, a subsidiary of TGI Group recently completed a majority stake acquisition in Union Bank of Nigeria
  • The Titan Trust Bank is Nigeria’s newest national commercial bank. It started operations in October 2019 with a strong capital basis and has shown significant growth, especially in difficult times, demonstrating precision in plan execution.
  • Nairametrics reported that some minority shareholders of Union Bank Plc have expressed worry over the acquisition of the over 100 years old bank by Titan Trust Bank Limited whose footprint in Nigeria is not more than two years old
  • Nairametrics also recently reported of strong indications that a mass resignation is brewing at the bank as most of its staff are already considering resigning for fear of an impending sack following the acquisition of the bank by Titan Trust Bank.

Follow us for Breaking News and Market Intelligence.
Tags: AfreximBankTitan Trust BankTTBUnion Bank of Nigeria
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

Salesforce Layoffs: Tech giant trims 300 jobs amid restructuring efforts
Business News

Afreximbank targets ‘billions of dollars’ funding deals at 2025 Annual Meetings in Abuja   

June 21, 2025
AfreximBank approves $200 million finance facility to BUA Group for expansion projects 
Financial Services

Afreximbank disputes Fitch’s negative outlook, defends financial position in Africa 

June 10, 2025
Tinubu commissions African medical centre, says Nigeria has secured over $2.2 billion for health sector reforms 
Health

Tinubu commissions African medical centre, says Nigeria has secured over $2.2 billion for health sector reforms 

June 5, 2025
Nigerian Banks
Financial Services

Cross-border payments: 22 Nigerian commercial banks join PAPPS scheme 

May 27, 2025
AfreximBank approves $200 million finance facility to BUA Group for expansion projects 
Economy

Why US-China trade shift will have limited impact on African countries—Afreximbank  

May 13, 2025
AfreximBank approves $200 million finance facility to BUA Group for expansion projects 
Business News

Afreximbank opens applications for 2025 internship program, to pay $1,000 per month  

April 24, 2025
Next Post
APC postpones the commencement of presidential campaigns indefinitely, to expand campaign council

Northern APC governors insist on southern presidential candidate, disown Governor Bello

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Data gaps limiting access to credit in Nigeria—Sofri MD 
  • Nigeria’s first female fighter pilot, Kafayat Sanni wins top honours at Ghana’s military college
  • FG secures Heathrow Airport slot for Air Peace under BASA with UK 

Follow us on social media:

Recent News

Data gaps limiting access to credit in Nigeria—Sofri MD 

Data gaps limiting access to credit in Nigeria—Sofri MD 

June 22, 2025
Nigeria’s first female fighter pilot, Kafayat Sanni wins top honours at Ghana’s military college

Nigeria’s first female fighter pilot, Kafayat Sanni wins top honours at Ghana’s military college

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics