Banking
Titan Trust Bank: 2 Years of Service with Power and Pride
By Opeyemi Dabiri
On October 4, 2021, one of the fastest-growing financial service providers in Nigeria, Titan Trust Bank Limited, celebrated two years of its existence.
Established with a mission to take advantage of the identified gaps in the banking sector and address the unmet needs of the retail mass market, SMEs and corporates, Titan Trust Bank, has continued to provide seamless banking experience, accurate and relevant information to its customers.
The management team led by seasoned bankers, Mudassir Amray, the group managing director/CEO, and Adaeze Udensi, PhD, executive director, in the last two years, has been able to position the bank on an upward trajectory with many unprecedented innovations.
With management focused on innovation and a unique philosophy to create, preserve and satisfy its customers, Titan Trust Bank found itself in a fiercely competitive banking environment but it remained guided by passion, resilience, innovation and brand architecture that exuded quality service, performance and sheer excellence.
The lender has found its feet quickly on the floor of the Nigerian banking sector and recorded one of the highest increases in the number of customers. It remains committed to its customers and continues to search for new heights to attain in the Nigerian banking sector and that is why the bank is considered the fastest growing bank in Nigeria.
The Titan Trust Bank story is increasingly becoming a case study in corporate governance, leadership, vision and excellence.
Amid the bank’s audacity to dare and succeed, industry watchers have continued to marvel at the amazing rise of the lender since its inception and ask: how are they doing it? The answers may not be far from the fact that at the inception of the bank’s operations in October 2019, the management team drew up a holistic and integrated approach to business modernization, which has formed the foundation for the bank’s superior customer-centric experience.
The bank has continued to deliver exceptional banking services by making financial services easy and accessible to its teeming customers.
In its determination to take financial services to every household in order to drive effective inclusion and participation in the recovery and growth of Nigeria’s economy, Titan Trust Bank has invested substantially in technology and developed fully integrated service models that enable its customers to enjoy banking services through a wide range of channels.. The bank believes in innovation, creativity and the use of technology to enhance the lives of its customers while it also strives to ensure that its products and services are meeting the changing needs of its customers.
Recently, the lender launched and deployed the latest version of Oracle’s FCCM module, powering our AML/CFT infrastructure, used in over 120+ sites by top global banks. It has also invested in top-notch infrastructure for AML/KYC, as well as the Oracle Financial Services Analytical Application (OFSAA) to ensure rigorous analysis and measurement of its risk-performance objectives.
The bank’s digital platforms which include: the Titan Mobile Application, Titan Internet Banking platform and the Titan *922# Unstructured Supplementary Service Data (USSD) solution, are seamless, fast, reliable and easy to use. Aside from the regular features, its state-of-the-art mobile banking application – the TITAN mobile app has been upgraded with new features such as the generation of referral codes whilst opening accounts, transaction status information, receipt generation for previous transactions, as well as being able to carry out traditional mobile banking services.
In furtherance of its efforts to offer customers an endearing experience by extending its reach and offer seamless banking services across the country, the bank has also opened two more branches in strategic locations in Lagos with a skilled and professional relationship team dedicated to satisfying the banking needs of the people.
The two state-of-the-art branches located at 53, Allen Avenue, Ikeja, Lagos and 17, Burma Road, Apapa, Lagos, according to the bank, are in line with its quest to provide financial service to micro, small and medium scale enterprises within Lagos State. The new branches provide a full suite of banking products and services for retail and corporate banking clients.
In his comment at the launch of one of the new branches, Mr Amray, the bank’s CEO, noted that the launch represents a translation into the concrete reality of “our determination to live by our mission and keeping to our service promise to provide simple, reliable, and quick banking solutions to all our customers.”
The federal government through the Central Bank of Nigeria (CBN) also announced the appointment of the lender as one of the designated banks for the collection of the Nigeria export Supervision Scheme (NESS) levy, a feat industry watchers applauded as a strategic move. NESS levy is a statutory payment to the federal government, which is charged at 0.50 per cent of the export value. The apex bank collects the fees through designated banks on behalf of FG.
As part of its initiative to continuously support entrepreneurs in the country by providing financial and advisory services for the growth of their businesses, Titan Trust Bank in collaboration with the International Finance Corporation (IFC), launched an online platform to empower business owners with the knowledge to manage and grow their businesses amid the COVID-19 pandemic.
At the first edition of the programme held on the 18th of February 2020, participants gave positive testimonials on how relevant and rewarding they found the training.
During the training, participants numbering over 200 were taken through series of webinars by business and digital experts on how to use social media and online tools to transform businesses from the traditional space to an online digital marketplace, how to set up an online business, identifying the best ways to make product offerings available online and finding target market.
On its staff welfare, the bank has placed a premium on improving workplace culture towards making its employees happy and productive. In the past two years, the bank has launched several internal initiatives to enhance staff welfare to keep staff engaged together with an open-door approach to have every voice heard.
The bank understands that employees are the engine room required in making any organization work and if they are not treated right it is to the disadvantage of all. It believes that when its employees are treated right, they will always be in their best shape to keep delivering a superior customer experience.
Undoubtedly, the bank’s achievements in the last two years have not gone unnoticed even on the international stage.
The lender recently bagged two awards as the ‘Best New Commercial Banking Brand’ and ‘Fastest Growing Digital Banking Brand in Nigeria for the Year 2021’ at the 2021 annual United Kingdom-based Global Brands Magazine Awards. The bank clinched the coveted influential awards in less than two years of its commercial operations.
The bank also emerged ‘Best Trade Finance Provider in Nigeria for the year 2020’ by Global Finance Magazine World’s Best Trade Finance Providers Awards. The lender clinched the coveted influential international award previously won by only the first-tier banks in Nigeria in just 15 months of its commercial operations.
Going by the speed with which the bank is moving towards the top, one expects that in the next year it will become one of the most talked-about financial institutions in terms of delivery and impact on its customers.
Opeyemi Dabiri, a financial analyst, writes from Lagos, Nigeria.
By Aduragbemi Omiyale
Children and teens interested in participating in becoming the chief executive of Wema Bank for one day have till Wednesday, May 20, 2026, to submit their entries.
The One-Day MD/CEO initiative was introduced by Wema Bank in 2025 to commemorate Children’s Day in a uniquely unprecedented manner.
The winner of the maiden edition was a 12-year-old Chiderije Mbah, inspiring children across the country to put in the work towards a successful future.
Inspired by the bank’s 80th anniversary theme, 80 Years of Impact, A Future of Possibilities, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of the chief executive of the bank, Mr Moruf Oseni, for a day.
The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges as the winner, and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day, with parents and teens encouraged to hurry and make their submissions before the deadline.
By Adedapo Adesanya
Nigerian tier-1 lender, First Bank, has announced the introduction of its Naira Visa Debit Card in partnership with the global payments giant to extend accessible, reliable electronic payment capabilities to a broader segment of the Nigerian population.
The card is targeted at everyday consumers who require a dependable payment instrument for routine domestic and international transactions. Accepted across POS terminals, ATMs, and online platforms through Visa’s payments network, the Naira Visa Debit Card is designed to reduce friction for customers transitioning from cash to electronic payments across retail, utilities, and digital commerce.
According to the bank, the partnership aligns with Nigeria’s ongoing drive toward a cashless economy, a policy direction that has gained significant momentum following successive Central Bank of Nigeria directives encouraging the adoption of electronic payment channels, adding that the card is intended to serve customers across the country’s diverse economic segments.
The Naira Visa Debit Card is available to all eligible FirstBank account holders through any of the bank’s branches nationwide.
Speaking on the launch, Mr Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “Everyday transactions should be simple, secure, and rewarding. The Naira Visa Debit Card is designed to make life easier for our customers, whether they are paying for groceries, settling utility bills, or shopping online.
“By extending reliable electronic payment access across Nigeria, we are helping more people transition confidently from cash to digital payments, supporting the nation’s cashless policy and empowering communities with greater financial inclusion.”
Commenting on the strategic importance of the partnership, Mr Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “A strong payments ecosystem works for everyone. The Naira Visa Debit Card extends reliable electronic payment access to everyday Nigerian consumers, and this in addition to the cards in our portfolio, continues to demonstrate what a truly comprehensive card portfolio looks like for the Nigerian market. Visa is proud to power this offering with FirstBank.”
The launch of the Naira Visa Debit Card broadens Visa’s card portfolio at FirstBank, which already includes products spanning credit cards and High-end premium lifestyle spending cards. The addition completes its offering across customer segments, ensuring that cardholders at every income level have access to a product suited to their needs.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has unveiled the fourth edition of its Foreign Exchange Manual as part of efforts to deepen liquidity, improve transparency and strengthen confidence in the country’s foreign exchange market.
Speaking at the launch of the revised manual in Abuja on Friday, the Governor of the apex bank, Mr Yemi Cardoso, said the document will take effect from June 1, 2026.
He said it was developed after extensive consultations with banks, exporters, importers, corporates, regulators and development partners.
He said the new framework reflects the apex bank’s commitment to modernising the country’s foreign exchange administration in line with international best practices.
Mr Cardoso described the foreign exchange market as a critical pillar of any open economy, noting that effective governance of the sector is essential for sustaining macroeconomic stability and investor confidence.
“Foreign exchange is more than a financial instrument. It anchors price stability, facilitates the flow of goods and capital, and shapes investor sentiment,” he said.
The CBN governor stressed that the revised manual became necessary due to changing global economic realities, domestic reforms and the need for a more coherent and forward-looking regulatory framework.
According to him, the last edition of the FX manual was issued in 2018, making the latest review both timely and necessary.
Mr Cardoso disclosed that Nigeria’s foreign exchange market has witnessed significant improvement in liquidity since the current administration began reforms in the sector.
He added that daily turnover in the FX market increased from an average of about $100 million in the early days of the administration to between $400 million and $600 million daily.
The CBN Governor added that the market had also recorded transactions of up to $1 billion per day on several occasions in recent months.
“We have gone from a situation where it was more or less a one-way market, where the central bank came in, intervened and went away, to a much more dynamic market,” he stated.
The apex bank boss noted that the reforms were gradually restoring confidence among investors and market participants, encouraging freer entry and exit in the market without unnecessary restrictions.
He also maintained that the nation’s foreign reserves should not be used as the primary tool for funding the foreign exchange market.
“Reserves are reserves. They are not what you look to fund a market,” he said.
The CBN Governor assured stakeholders that the revised manual would be distributed free of charge to authorised dealers while the bank strengthens monitoring mechanisms to ensure compliance, fairness and accountability across the foreign exchange market.
On his part, the Deputy Governor for Economic Policy, Mr Muhammad Abdullahi, said the review formed part of broader reforms initiated by Mr Cardoso to restore confidence, improve transparency and deepen liquidity in the foreign exchange market.
Mr Abdullahi explained that the revised manual introduces several changes aimed at improving ease of doing business and reducing transaction bottlenecks.
Among the notable changes, he noted, are provisions allowing unfettered access to export proceeds, the introduction of non-resident investment accounts and operational guidelines for Pan-African Payment and Settlement System (PAPSS) transactions to support regional trade.
Mr Abdullahi added that the manual also contains new provisions on service exports, revised documentation requirements and updated operational procedures designed to align Nigeria’s FX market with global standards.
He said the apex bank deliberately adopted an ease of doing business approach during the review process to eliminate inefficiencies and ambiguities identified by stakeholders.
“The revised manual is not a stand-alone exercise but part of a broader institutional reform effort designed to strengthen the integrity, credibility and effectiveness of Nigeria’s foreign exchange system,” he said.
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