• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Fitch Places Union Bank On Negative Watch After CBN Intervention

by Leadership News
2 years ago
in News
Union Bank
Share on WhatsAppShare on FacebookShare on XTelegram

Fitch Ratings has assigned a Rating Watch Negative (RWN) to Union Bank of Nigeria Plc’s (UBN) Issuer Default Ratings (IDRs), Viability Rating (VR), and National Ratings.

Advertisement

The development follows the Central Bank of Nigeria’s (CBN) recent announcement of dissolving the board and management of three Nigerian banks, including UBN, due to regulatory non-compliance and corporate governance failure.

The RWN indicates the uncertainty surrounding the reasons for the CBN’s intervention, potential further regulatory actions, and the negative impact on UBN’s stand alone credit profile.
Fitch aims to resolve the RWN within six months, seeking more clarity on the CBN’s intervention and its implications for UBN’s credit profile.

A downgrade and resolution of the RWN may occur with additional regulatory interventions, such as restrictive measures, fines, or findings affecting UBN’s asset quality, resulting in substantial losses and capital erosion.
Funding instability, such as a deposit run or unavailability of additional liquidity sources, could also contribute to a downgrade.

Ratings affirmation and removal from RWN are possible if UBN operates normally under the new management without further regulatory interventions or adverse financial profile implications.
Meanwhile, the bank has reassured its stakeholders of seamless service in spite of the leadership change.
The bank gave the assurance in a statement on Tuesday in Lagos.
The statement said the appointment of Mrs Yetunde Oni, as its new managing director, was a positive development, expressing confidence in the bank about its future under her leadership.
It noted that the transition to the new Chief Executive Officer would be smooth, adding that there would be no disruption to daily operations.

RELATED

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

4 hours ago
Fire Destroys 10 Shops In Adamawa

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

5 hours ago

The bank assured its customers that as a long-standing financial institution in the Nigerian banking industry, it would continue to provide top-quality services and products.
It added that the bank would continue to operate under the best tenets of corporate governance as enshrined within the guidelines of the Central Bank of Nigeria.

It pledged to sustain and drive initiatives that would continue to enable customer success and increase positive business growth under its new leadership.

The statement stated that Oni had promised to maintain the bank’s legacy as a proudly Nigerian institution steadfast in its commitment to enabling success for its robust customer base.
The statement quoted Oni as saying, “Union Bank is an iconic financial institution with over 106 years of history providing top banking services to the Nigerian people.

“Under my stewardship, we will maintain our proud heritage and continue to be part of the growth and the success story of Nigeria and its people for the foreseeable future.”

The bank also assured its customers of smooth operations in its vast network of branches nationwide and unhindered access to its top-notch, technologically innovative products and services.
It also assured depositors of the safety of their funds urging them to use their various channels for inquiries or assistance in resolving any issue.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Group Battles Courier Firms Over Contract Breach

Next Post

NSIA Insurance Receives Awards On Quality Products, Services

Leadership News

Leadership News

You May Like

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates
News

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

2025/07/28
Fire Destroys 10 Shops In Adamawa
News

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

2025/07/28
2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term
News

2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term

2025/07/28
Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions
News

Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions

2025/07/28
Japa: Medical Schools’ Bid To Double Students’ Intake Under Threat
Health

Nurses, Midwives To Begin 7-Day Warning Strike Tuesday

2025/07/28
Insecurity Threatens FCT Doctors’ Response To Emergencies —NMA
Health

NMA Gives Federal Gov’t 21-Day Ultimatum Over Unmet Demands

2025/07/28
Leadership Conference advertisement

LATEST

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term

Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions

Nurses, Midwives To Begin 7-Day Warning Strike Tuesday

NMA Gives Federal Gov’t 21-Day Ultimatum Over Unmet Demands

Makinde Allocates 1,000 Hectares Of Land To Curb Illegal Migration

By-election: Abas Urges Residents To Vote APC In Ibadan North

Residents Reject Oyo Govt’s Plan To Extend Rashidi Ladoja Circular Road

Nigeria Loses ₦17.9trn Yearly To Hepatitis — Minister

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.