CBN reaffirms oversight, assures stability of Union Bank after court ruling
Omeiza Bilal
The Central Bank of Nigeria (CBN) has said it remains committed to the stability of Nigeria’s financial sector.
According to the regulator, in a statement by Acting Director Corporate Communications, Hakama Sidi Ali (Mrs.), it remained committed to ensuring that the stability of Union Bank in meeting its obligations.
The Central Bank of Nigeria (CBN) acknowledges the judgment delivered on Wednesday, March 25, 2026, by the Federal High Court in Lagos concerning its regulatory action on Union Bank of Nigeria Plc (UBN) in January 2024.
“The Bank is currently obtaining the Certified True Copy of the judgment and will review it carefully, reaffirming its unwavering commitment to the rule of law,”
The CBN assures the public that UBN’s status is unchanged and that it remains fully capable of meeting its obligations to customers, depositors, and all stakeholders,“ the Apex Bank spokesperson stated.
The CBN assured that it will continue to provide the necessary regulatory oversight to ensure Union Bank operates in a safe, sound, and stable manner, while maintaining public confidence in the financial system.
