Union Bank Fulfills ₦6.31bn Bond Obligation, Showcases Financial Discipline

Union Bank of Nigeria has finalized the full repayment of its Series 2 bond, valued at ₦6.31 billion, covering both principal and interest. The transaction was completed on September 3, 2025, in accordance with the Securities and Exchange Commission’s regulatory framework. The 15.75% bond, issued under the bank’s ₦100 billion Debt Issuance Programme, was fully subscribed and settled on schedule.

This milestone follows Union Bank’s recent merger with Titan Trust and is seen as a strategic move that reinforces investor confidence in the bank’s financial discipline and governance. The bank emphasized that the redemption process was executed in strict compliance with SEC guidelines, in collaboration with ARM Trustees and UTL Trustees.

Tosin Ibikunle, Head of Strategy and Planning at Union Bank, described the successful bond repayment as a testament to the bank’s commitment to its stakeholders and its long-term financial resilience. He noted that the move not only strengthens investor trust but also reflects the bank’s readiness to support Nigeria’s economic development through innovative financial solutions.

With the Series 2 bond now fully redeemed, Union Bank has reaffirmed its position as a stable and forward-looking institution, setting the stage for future engagements in the capital market.