• 1917 : The bank was founded in 1917 as Colonial Bank.
• 1925 : The bank became known as Barclays Bank DCO (Dominion, Colonial and Overseas) resulting from its acquisition by Barclays Bank.
• 1969: Barclays Bank DCO was incorporated in Nigeria, as Barclays Bank of Nigeria Limited, to comply with new banking laws enacted in 1968.
• 1971: the shares of the bank stock were listed on the Nigerian Stock Exchange. In the same year, 8.33% of the bank’s shares were offered to Nigerians.
• 1972: The following year, the Federal Government of Nigeria acquired 51.67% ownership of the bank, leaving Barclays Bank Plc. of London with 40% ownership.
• 1979 :
that 40% was sold to Nigerian individuals and businesses to comply with then recently enacted banking and investment laws.
The bank changed its name to Union Bank of Nigeria Plc,to reflect its new ownership structure.
• 1989: The Banque Internationale du Bénin was created in 1989 by the largest Nigerian banks with the participation of Benin-Nigerian economic operators. These Nigerian banks include UNION BANK OF NIGERIA PLC. BIBE began operations April 2nd, 1990.
• 1992 : Union Homes Savings and Loans Plc, was incorporated on November 6, 1992 and licensed to carry on mortgage banking business on May 30, 1994. Union Homes formally commenced business on August 2, 1994
• 1993 :
The Federal Government of Nigeria completely divested its ownership in the bank.
Union Bank of Nigeria Plc. acquired the former Universal Trust Bank Plc and Broad Bank Limited. It also absorbed its one-time subsidiary Union Merchant Bank Limited.
• 1999 : Union Capital Markets Limited (“UCML”) was incorporated on December 21, 1999 as a subsidiary of Union Bank Plc. Union Bank sold its interest in UCML to a strategic investor in 2014.