The Central Bank of Nigeria (CBN) has acknowledged the judgment delivered by the Federal High Court in Lagos on Wednesday, March 25, 2026, concerning its regulatory action on Union Bank of Nigeria Plc taken in January 2024.
In a statement released by the apex bank, the CBN said it is currently in the process of obtaining the Certified True Copy (CTC) of the court judgment in order to carefully review the details of the ruling.
The bank emphasized that it remains firmly committed to upholding the rule of law and ensuring that all its regulatory actions align with established legal processes.
“As the apex regulatory authority, the Central Bank of Nigeria will continue to act in accordance with its mandate and in line with the relevant laws guiding the banking sector,” the statement noted.
The CBN also reassured the public that the operational status of Union Bank remains unchanged despite the legal developments. According to the regulator, the bank is fully capable of meeting its obligations to customers, depositors, and other stakeholders.
Furthermore, the CBN said it will continue to provide the necessary regulatory oversight to ensure that Union Bank operates in a safe, sound, and stable manner.
The assurance comes amid concerns that legal proceedings involving financial institutions could affect public confidence. However, the central bank reiterated that Nigeria’s financial system remains strong and well-regulated.
The apex bank added that it remains focused on maintaining stability in the banking sector while safeguarding the interests of depositors and promoting trust in the country’s financial system.
