CBN Reaffirms Oversight, Assures Stability of Union Bank After Court Ruling
Oru Leonard
The Central Bank of Nigeria (CBN), has reaffirmed its regulatory oversight of Union Bank of Nigeria Plc, assuring the public of the bank’s stability following a recent court judgment.
In a statement signed on Wednesday by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN acknowledged the ruling delivered on March 25, 2026, by the Federal High Court in Lagos concerning its regulatory intervention in Union Bank in January 2024.
The apex bank said it is in the process of obtaining the Certified True Copy of the judgment for a detailed review, stressing its commitment to upholding the rule of law and due process.
Reiterating its mandate as the country’s chief financial regulator, the CBN noted that all its actions are guided by established legal frameworks and regulatory standards.
The bank further assured customers, depositors, and stakeholders that Union Bank’s operational status remains unchanged, adding that the financial institution is fully capable of meeting its obligations.
According to the CBN, it will continue to provide necessary oversight to ensure that Union Bank operates in a safe, sound, and stable manner, while sustaining public confidence in Nigeria’s financial system.
