The Central Bank of Nigeria (CBN) has reassured the public of the stability and soundness of Union Bank of Nigeria Plc following a recent court ruling concerning its regulatory intervention in the bank.
In a press release issued on Wednesday, March 25, 2026, the apex bank acknowledged the judgment delivered by the Federal High Court in Lagos regarding its action on Union Bank in January 2024.
The CBN disclosed that it is currently obtaining the Certified True Copy of the judgment for a thorough review, reiterating its commitment to upholding the rule of law and due process in all its regulatory activities.
“As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes,” the statement read.
The bank further assured customers, depositors, and stakeholders that Union Bank’s operational status remains unchanged and that the institution is fully capable of meeting its financial obligations.
It added that the CBN would continue to provide necessary regulatory oversight to ensure that Union Bank operates in a safe, sound, and stable manner, while sustaining public confidence in Nigeria’s financial system.
The statement was signed by Hakama Sidi Ali, Acting Director of Corporate Communications.
