By Hosea Parah, Abuja

The Central Bank of Nigeria has reaffirmed the financial stability of Union Bank of Nigeria Plc following a recent court ruling tied to its regulatory intervention in the bank.

In a statement released on Thursday, the apex bank, through its Acting Director of Corporate Communications, Hakama Sidi Ali, acknowledged the judgment delivered on March 25, 2026, by the Federal High Court in Lagos. The ruling concerns actions taken by the CBN against Union Bank in January 2024.

The CBN noted that it is currently obtaining the Certified True Copy of the judgment and will carefully review its contents in line with due process and respect for the rule of law.

Reaffirming its mandate as the country’s primary financial regulator, the bank stressed that all its decisions are made within the bounds of existing legal and regulatory frameworks.

Despite the court’s ruling, the CBN assured customers, depositors, and stakeholders that Union Bank’s operations remain unaffected. It emphasized that the bank is financially sound and capable of fulfilling all its obligations.

“The status of Union Bank remains unchanged, and it is fully able to meet its responsibilities,” the statement said.

The regulator also reiterated its commitment to maintaining strict oversight, ensuring that the bank continues to operate safely and sustainably while upholding confidence in Nigeria’s financial system.