• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 13, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Titan Trust Gets $300m Afreximbank Facility For Union Bank Acquisition

by Bukola Idowu
3 years ago
in Business
titan bank
Share on WhatsAppShare on FacebookShare on XTelegram

Afreximbank has disbursed $300 million intra-African Investment Financing Facility to Titan Trust Bank (TTB) to support its acquisition of a majority stake in Union Bank of Nigeria (UBN) plc.

Advertisement

Afreximbank’s media contact, Amadou Sall, made this known in a statement from the pan-African bank, yesterday.

Sall said the deal would enhance the competitive dynamics of the Nigerian banking sector while maintaining confidence in the country’s financial services and broader financial stability.

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.’’

RELATED

Stock Market Momentum Persists, Gains N467bn

Stock Market Records N3.46trn Weekly Gain, Highest Surge This Year

7 hours ago
Operators Seek Immediate PIA Review To Boost Investment Opportunities

Operators Seek Immediate PIA Review To Boost Investment Opportunities

7 hours ago

Sall said TTB is a member of the Tropical General Investment (TGI) group, a pan-African group with diversified investments across seven African countries in various industries and a large network of origination, distribution, and supply chain hubs.

He said TTB would leverage the acquisition of UBN to enhance its capacity to capitalise on the unparalleled opportunities presented by the African Continental Free Trade Area (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 listed the programmes and initiatives to include the Afreximbank Trade Facilitation Programmes (AfTRAF) and AfPAY, the bank’s international payment services.

“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.’’

Afreximbank president, Benedict Oramah, said the “the bank remained committed to strengthening the position of indigenous financial institutions’’.

Oramah said this would, therefore, increase Africa’s control over its financial markets and create greater economic resilience for the continent.

“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’’.

Afreximbank is a Pan-African multilateral financial institution mandated to finance and promotes intra-and extra-African trade.

Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby, boosting economic expansion in Africa.

TTB is the newest national commercial bank in Nigeria.

It commenced operation in October 2019, with a strong capital base and has demonstrated precision in the execution of its strategy by showing tremendous growth, even in difficult times.

TTB has received industry-wide recognition, having been named ‘Best Trade Finance Provider in Nigeria’ for 2020 and 2021 by Global Finance Magazine.

The bank also won ‘Best New Commercial Banking Brand’ and ‘Fastest Growing Digital Banking Brand in Nigeria’ for 2021 by the Global Brand Magazine


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Titan Trust BankUnion Bank
SendShareTweetShare
Previous Post

9mobile Set To Groom Entrepreneurs, SMEs

Next Post

Firm Tasks Federal Govt On Infrastructure Devt, Commits To Waste Reduction

Bukola Idowu

Bukola Idowu

You May Like

Stock Market Momentum Persists, Gains N467bn
Business

Stock Market Records N3.46trn Weekly Gain, Highest Surge This Year

2025/07/13
Operators Seek Immediate PIA Review To Boost Investment Opportunities
Business

Operators Seek Immediate PIA Review To Boost Investment Opportunities

2025/07/13
Customs Intercepts 25 Containers Of Fake, Illicit Drugs From India
Business

Customs Intercepts 25 Containers Of Fake, Illicit Drugs From India

2025/07/13
Firm Gets $250,000 Funding to Boost Energy Access
Business

Firm Gets $250,000 Funding to Boost Energy Access

2025/07/13
FIRS, AFRITAC West 2 Deepen Collaboration On Taxpayer Services, Digital Reforms
Business

FIRS, AFRITAC West 2 Deepen Collaboration On Taxpayer Services, Digital Reforms

2025/07/13
ACAMB Urges Adoption Of Ethical AI In Banking Sector
Business

ACAMB Urges Adoption Of Ethical AI In Banking Sector

2025/07/13
Leadership Conference advertisement

LATEST

Evicted Palace Officials Drag Emir Sanusi, Others To Court Over Alleged Forceful Eviction

Passengers Safe As Air Peace Aircraft Skids Off Runway In Port Harcourt

Tinubu Returns to Abuja After 2-week Trip To Saint Lucia, Brazil

Team Nigeria Unveils Official Squad for 3rd African U18/U20 Athletics Championship

Nigeria Dominates ValueJet Lagos World Para Table Tennis Future 2025

Ikorodu City To Face Shooting Stars In Eko Int’l Cup Opener

WAFCON: Falcons Get $200k For Q/Final Qualification

FIBA U-19 Women’s World Cup: Olopade Applauds Junior D’Tigress for Historic Victory Over China

Mission X: Super Falcons To Use Algeria As Shooting Practice

Titanic Battle Looms As Chelsea Clash With PSG In Club World Cup Final

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.