BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN), has said the recent court ruling will not affect the operations or financial stability of Union Bank of Nigeria Plc, moving to reassure customers and investors amid heightened scrutiny of its regulatory actions.
The Apex bank reaffirmed its regulatory oversight of Union Bank of Nigeria Plc following a Federal High Court judgment delivered in Lagos on Wednesday, March 25, 2026.
In a statement issued after the ruling, the apex bank said it is in the process of obtaining the Certified True Copy of the judgment and will conduct a thorough review, underscoring its commitment to due process and the rule of law.
The court decision relates to regulatory actions taken by the CBN on Union Bank in January 2024.
Despite the development, the regulator moved to calm market concerns, stating that Union Bank’s operational and financial position remains unchanged. The CBN emphasized that the lender continues to meet all its obligations to customers, depositors, and other stakeholders.
“As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes,” the statement noted.
The central bank added that it will sustain close supervision of the bank to ensure it operates in a safe, sound, and stable manner, while also maintaining public confidence in Nigeria’s financial system.
