The Central Bank of Nigeria (CBN) has reaffirmed its regulatory oversight of Union Bank of Nigeria Plc, assuring the public of the bank’s continued stability after a recent court ruling.
In a statement issued on Wednesday, the apex bank acknowledged the judgment delivered on March 25, 2026, by the Federal High Court in Lagos concerning its regulatory intervention in Union Bank in January 2024.
The CBN said it is in the process of obtaining the Certified True Copy of the judgment and will review its contents thoroughly, stressing its commitment to upholding 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 statement noted.
The regulator 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.
The CBN added that it will continue to provide necessary oversight to ensure the 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 at the CBN.
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