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In a late Wednesday night statement following the court ruling on the removal of Union Bank’s board in 2024, the Central Bank of Nigeria (CBN) emphasized that Union Bank continues to meet its obligations to customers.
Signed by the CBN Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the statement reads in full:
“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.”
