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.

In a statement issued on Wednesday by the Acting Director, Corporate Communications, Hakama Sidi Ali,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.

Part of the statement read,”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.”the statement concluded