The Central Bank of Nigeria (CBN) has reaffirmed its commitment to safeguarding the stability of Union Bank of Nigeria Plc (UBN), following a recent court ruling on its regulatory actions concerning the bank.
In a statement issued on Thursday by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank acknowledged the judgment delivered on Wednesday, March 25, 2026, by the Federal High Court in Lagos regarding its intervention in Union Bank in January 2024.
According to the CBN, it is in the process of obtaining the Certified True Copy of the judgment and will thoroughly review the court’s decision. The Bank reiterated its unwavering respect for the rule of law and its dedication to operating strictly within its legal mandate.
The apex bank emphasized that the status of Union Bank remains unchanged despite the ruling, assuring customers, depositors, and stakeholders that the financial institution remains stable and fully capable of meeting all its obligations.
“The CBN 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,” the statement said.
This reassurance comes amid public interest surrounding the court’s decision, with the CBN stressing that the financial system remains secure and that there is no cause for concern regarding Union Bank’s operations.
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