Regulatory Alerts2026-03-25 | CCDPress Release- CBN Reaffirms Oversight, Assures Stability of Union Bank After court Ruling
The Central Bank of Nigeria (CBN) acknowledged a recent court judgment concerning its January 2024 regulatory action on Union Bank of Nigeria Plc (UBN). While reviewing the judgment's specifics, the CBN immediately assured the public that UBN's operational status remains unchanged, emphasizing its capability to meet all obligations to customers and stakeholders. The CBN further committed to ongoing regulatory oversight to ensure Union Bank's stable operation and maintain public confidence despite the recent legal development.
www.cbn.gov.ng Central Bank of Nigeria Press Release CBN Reaffirms Oversight, Assures Stability of Union Bank After Court Ruling 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. As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes. 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 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. Hakama Sidi Ali (Mrs.) Ag. Director, Corporate Communications March 25, 2026