Mr. Amray made this remark during his keynote address at the Gold Roadshow Africa, held on November 7, 2025, which brought together central bankers, policymakers, and institutional investors to explore Africa’s growing role in the global gold value chain.

In his presentation, titled “The Bridge Between Trust, Value and Financial Sovereignty for Africa,” Mr. Amray highlighted that the recent rally, which saw gold cross the $4,300 mark for the first time in history, reflects a broader global shift in trust, capital, and power.

“For years, gold was seen as a metal of beauty,” he said. “Today, it stands as a metal of strategy, politically neutral, instantly liquid, and a firewall against inflation and currency depreciation.”

He stated that Africa produces over 40% of the world’s gold but captures less than 2% of its financial value, calling for a stronger focus on domestic value addition.

“We export raw and import finished wealth,” Mr. Amray noted. He commended ongoing local initiatives by Kian Smith Gold Refinery as important steps toward sustainable value capture and industrial growth.

Following his keynote, Mr. Amray joined a high-level dialogue with Bolaji Balogun, Founder and CEO of Chapel Hill Denham, moderated by Bode Oyetunde of the African Development Bank (AfDB).

The discussion focused on the policy, infrastructure, and investment frameworks needed to integrate gold into Nigeria’s financial system.

The Gold Roadshow Africa concluded with a shared commitment among participants to strengthen policy alignment, promote private sector investment, and advance local processing to drive inclusive and sustainable growth across the continent’s gold value chain.

Union Bank, Nigeria’s second-oldest lender, now has Titan Trust Bank as the majority equity holder.

The acquisition was completed almost half a year after an agreement was reached by both parties, according to PremiumTimes report, quoting a letter in a regulatory filing.

The lender, backed by a former Central Bank of Nigeria deputy governor, Tunde Lemo, set out to acquire 89.4 per cent interest in Union Bank from a pool of stakes from exiting major investors including British Virgin Islands-based Atlas Mara and Union Global Partners Limited, but later upped the stake to 93.4 per cent.

The statement reads:

“With the completion of the transaction, TGI Group, parent of TTB, now becomes the majority shareholder and core investor in Union Bank,” the document said.

The ownership transfer to Titian Trust Bank excludes Union Bank UK, a subsidiary of Union Bank of Nigeria, which also has been sold off, with the proceeds of divestment to all the shareholders of the latter as of March 4, 2022.

In the spirit of the change of ownership, the members of Union Bank’s board have exited the bank.

Details later.