CBN Reviews Court Judgment On Union Bank, Affirms Stability

The Central Bank of Nigeria (CBN) has said it is reviewing the Federal High Court judgment concerning its regulatory action on Union Bank of Nigeria Plc, while reaffirming its commitment to the rule of law and financial system stability.

In a statement issued on Wednesday night, the apex bank acknowledged the judgment delivered earlier in the day and said it was in the process of obtaining the Certified True Copy for proper evaluation.

“The Central Bank of Nigeria 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 stated.

The statement, signed by the Acting Director of Corporate Communications, Hakama Sidi Ali, noted that the bank would carefully review the ruling in line with its legal obligations. “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,” it said.

The CBN stressed that its actions as the apex regulatory authority are guided by its statutory mandate and due process, adding that it remains committed to operating within established legal frameworks.
“As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes,” the statement added.

The regulator also moved to reassure customers and stakeholders of Union Bank that the institution remains stable and fully operational despite the development.
“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 bank said.

The apex bank emphasised that it would continue to provide oversight to ensure the bank operates in a safe and sound manner.
“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 noted.

The response underscores the CBN’s position that regulatory stability and adherence to legal processes remain central to its operations, even as it evaluates the implications of the court’s decision.