CBN assures stability of Union Bank after court ruling

The Central Bank of Nigeria, CBN, has acknowledged the judgement of the Federal High Court successful Lagos implicit its regulatory enactment against Union Bank of Nigeria Plc, UBN, successful 2024.

The apex bank, successful a statement, noted it is successful the process of obtaining the Certified True Copy of the judgement and volition reappraisal it cautiously earlier further actions

Reaffirming its unwavering committedness to the regularisation of law, the CBN, successful the connection signed by its Director, Corporate Communications, Hakama Sidi Ali said, arsenic the apex regulatory authorization successful the banking sector, it remains committed to acting successful accordance with its mandate and established ineligible processes.

The connection work partly, “The CBN assures the nationalist that UBN’s presumption is unchanged and that it remains afloat susceptible of gathering its obligations to customers, depositors, and each stakeholders.

“The CBN volition proceed to supply the indispensable regulatory oversight to guarantee Union Bank operates successful a safe, sound, and unchangeable manner, portion maintaining nationalist assurance successful the fiscal system.”

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