Union Bank MD Spends N1.9bn on US Mansion Amid Ongoing Governance Battle

Union Bank’s leadership has been under the spotlight since Titan Trust Bank’s takeover in 2022 and the Central Bank’s controversial board dissolution in January 2024. A Federal High Court in Lagos nullified the CBN’s intervention in March 2026 and ordered the reinstatement of the former board. The apex bank has appealed the ruling, leaving the dispute unresolved. Recent property records show Managing Director Yetunde Oni and a co-owner acquired a seven-acre US residence near Washington, DC, for N1.9bn just a year after her appointment. This purchase raises fresh questions amid ongoing ownership and governance controversies.

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