The Central Bank of Nigeria (CBN) has reaffirmed its oversight of Union Bank of Nigeria Plc (UBN) following a Federal High Court judgment in Lagos on March 25, 2026, declaring its January 2024 regulatory intervention unlawful.
CBN’s official response on Union Bank oversight
In a press release signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the CBN said it is reviewing the Certified True Copy of the judgment while committing to the rule of law. UBN’s status is unchanged, and it remains fully operational for all customers.
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The bank assured depositors that Union Bank can meet all obligations, with strict supervision to maintain stability and confidence in Nigeria’s financial system.
What it means for Nigerians
No changes for savers or account holders—your money is safe. This echoes CBN’s recapitalization push to strengthen banks amid 29% inflation and naira pressures.
