In the last three days, we have seen a storm of allegations regarding the ownership of Titan Trust Bank Limited (TTB) and Union Bank of Nigeria Plc (“Union Bank”), and this has captured public attention. These claims, reportedly stemming from a report submitted to the President by a Special Investigator, Mr Jim Obaze, have initiated a critical discussion around transparency. …

The Office of the Special Investigator probing the Central Bank of Nigeria (CBN) has summoned the Chairman of Titan Trust Bank (TTB), Mr. Tunde Lemo, and two other shareholders of the bank to a “follow-up meeting” in Abuja on Thursday over the controversial acquisition of Union Bank of Nigeria last year. The summons were issued hours after Lemo, a former …

Fidelity Bank has agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank. In a statement by Fidelity Bank on Tuesday, it said that this new development is the latest phase in the train of divestments by Union Bank which began late last year. At that time, Union Bank offloaded 90 percent of its shareholding to …