Union Bank MD Yetunde Oni Buys ₦1.9bn Maryland Residence Amid Boardroom Turmoil

Union Bank has been embroiled in ownership disputes, regulatory interventions, and court battles since Titan Trust Bank acquired a majority stake in June 2022. In January 2024, the Central Bank of Nigeria dissolved the bank’s board and management over governance concerns, installing Yetunde Oni as Managing Director. A Federal High Court in Lagos then nullified the Central Bank’s intervention in March 2026, ordering the reinstatement of the former board and setting aside decisions made by the CBN-appointed team. The legal dispute remains under appeal. Amid this ongoing crisis, property records from June 2026 reveal that Yetunde Oni and Oluwatobi Oni purchased a seven-acre, 6,088-square-foot single-family home in Upper Marlboro, Maryland, valued at about ₦1.9 billion. Observers are questioning the timing of this acquisition while the bank’s governance remains unresolved.

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