CBN reaffirms oversight, assures stability of Union Bank after Court ruling
The Central Bank of Nigeria (CBN) has acknowledged the judgment delivered 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.
A statement by Hakama Sidi Ali (Mrs.), Ag. Director, Corporate Communications of the apex Bank said that the CBN is currently obtaining the Certified True Copy (CTC) of the judgment and will review it carefully, reaffirming its unwavering commitment to the rule of law.
It said that “As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes.”
The CBN also assured the public that UBN’s status is unchanged and that it remains fully capable of meeting its obligations to customers, depositors, and all stakeholders.
It also pledged that it will continue to provide the necessary regulatory oversight to ensure that Union Bank operates in a safe, sound, and stable manner, while maintaining public confidence in the financial system.
