The Central Bank of Nigeria (CBN) has reaffirmed its commitment to regulatory oversight and the stability of Union Bank of Nigeria Plc (UBN) following a judgment delivered by the Federal High Court in Lagos on Wednesday, March 25, 2026.
In a statement on Acting Director, Corporate Communications Hakama Sidi Ali (Mrs.) said the judgment relates to the CBN’s regulatory action on UBN in January 2024. She said the apex bank is in the process of obtaining a Certified True Copy of the ruling and will conduct a thorough review, underscoring its respect for the rule of law.
The CBN emphasized that Union Bank’s operational status remains unchanged. The bank continues to meet its obligations to customers, depositors, and all stakeholders.
As Nigeria’s financial regulator, the CBN affirmed that it will maintain the necessary oversight to ensure Union Bank operates in a safe, sound, and stable manner, thereby safeguarding public confidence in the nation’s financial system.
