The news is all over the place that Titan Trust Bank has acquired Union Bank. Many Nigerians are surprised considering that they’ve never heard of the name Titan Trust Bank before now. Well, the bank in question is only just 2 years old but when money is involved, everything becomes possible.
In this article, I’ll be discussing everything you need to know about the bank that’ll be taking over the prestigious and over a century old Union Bank in Nigeria. Read on if this information interests you.
What is Titan Trust Bank?
Titan Trust Bank is a Nigerian commercial bank headquartered in Lagos State. The bank obtained its banking license from the CBN in 2019 although it was formally established in 2018. Titan Trust is the only latest bank in Nigeria for the past ten years as the CBN hasn’t issued any banking license for about a decade.
This bank aims to tackle the current loopholes in the Nigerian banking system; it’s the foundation of their establishment. Titan Trust bank has their eyes set on individual, corporate, SMEs, and business customers; the same as every Nigerian commercial bank. Their vision is to be the best and most trusted financial institution in Africa. They aim to do this by providing simple, fast, and reliable banking.
Despite being a new financial institution, Titan Trust Bank has bagged a number of worthy awards. This includes Best Trade Finance Provider 2021, Best New Commercial Banking Brand In Nigeria, and Fastest Growing Digital Banking Brand In Nigeria.
Who owns Titan Trust Bank?
So, who owns this new and trending Nigerian financial bank? Well, companies like banks are owned by multiple shareholders with the highest shared holder usually seen as the bank owner. Nevertheless, here’s the names of Titan Trust Bank directions, management team, and staff as published on their website:
- Mr Tunde Lemo – CHAIRMAN
- Mr Andy Ojei – NON-EXECUTIVE DIRECTOR
- Alhaji Abubakar Mohammed – INDEPENDENT NON-EXECUTIVE DIRECTOR
- Mr Mackombo Chukwudi Lawrence Omoile – INDEPENDENT NON-EXECUTIVE DIRECTOR
- Mr. Mudassir Amray – MANAGING DIRECTOR / CEO
- Dr. Adaeze Udensi – EXECUTIVE DIRECTOR
- Stella Nwihim – HEAD OF HUMAN RESOURCES
- Mr Mark Oguh – CHIEF FINANCIAL OFFICER
- Mr. Ademola Ajayi – HEAD OF COMPLIANCE
- Chinenyeoke Uga – CHIEF RISK OFFICER
- Uche Ugboh – TREASURER
Since the bank is acquiring Union Bank, it won’t be surprising that they retain some of Union Bank’s top officials.
How To Open A Titan Trust Bank Account
If you would like to open a Titan Trust Bank Account, the process isn’t very different as that of other Nigerian banks since they all follow the Central Bank’s Policy. To open a Titan Trust Bank Account, you can walk into any of the bank branch nearest to you. Alternatively, you can walk into any Union Bank branch. Following the acquisition, you would find the Titan Trust Bank name and logo in place of the Union Bank name and logo you’ve been seeing in the past.
In the bank, you’ll have to fill and submit a bank account opening form. The most important thing, however, is that you come with all the necessary documents. For opening a bank account in Nigeria, the documents you’ll need include:
- Identification (National ID or Driver’s License; some banks accept local government identity document)
- Proof of address (usually utility bills)
If you already own a bank account with any other bank, you should have a BVN. Nevertheless, if you don’t have one, you can create one in the bank before opening your bank account.
Titan Trust Bank also allows you to open a bank account using your mobile. From the comfort of your home, you can open a bank account using the Titan Trust Bank mobile app. The mobile app is available for Android and iOS. Here’s how to go about it:
- Download the app from your App Store
- Launch the app and select Open Account
- Enter your BVN. A code will be sent to the number linked to your BVN. Enter the Code in the next section to confirm
- Confirm your BVN details from what’s displayed and enter your email and other missing information
- Finally, upload all your documents. You can take pictures of all the required documents previously listed and also your signature. However, you’ll have to take a real-time selfie as you can’t upload your passport.
Once done, you’ll wait for the account to be processed and you’ll get your account number and other details once finished.
Titan Trust Bank USSD Code
In addition to mobile and internet banking, Titan Trust Bank features a USSD code. The Titan Trust Bank USSD code is *922#. With this code, you can create a Titan Trust Bank account and carry out transactions like you do with USSD codes of other banks.
Titan Trust Bank Account Types
You can open a current or savings account with Titan Trust Bank. However, the bank has other somewhat mini-savings accounts including Titan Flash and Titan Flash Plus accounts. When opening an account, you’ll find the terms and conditions of these account types.
Notably, if you have a savings or current account with Union Bank, be rest assured that you’ll continue the same way with Titan Trust Bank. You have nothing to worry about. Also, with this new bank, you can either request for a Naira Master Card, Naira Verve Card, Titan World Elite MasterCard, or Titan Platinum MasterCard.
If you have a Union Bank debit card, normally, you should be able to continue using it following the acquisition. However, if not, you can easily visit a Titan bank branch and obtain a new debit card.