Last mentioned: Mar 26, 2026
Legal Review
CBN begins a formal review of the judgment's Certified True Copy to determine regulatory next steps.
Court Judgment
Federal High Court in Lagos delivers a ruling on the legality of the CBN's regulatory intervention.
CBN Reassurance
CBN issues a statement affirming Union Bank's stability and commitment to the rule of law.
Court Judgment
Federal High Court in Lagos delivers a ruling concerning the legality of the 2024 regulatory actions.
CBN Reassurance
The apex bank issues an official statement reaffirming Union Bank's stability and operational status.
Board Dissolution
CBN dissolves the boards of Union Bank, Keystone Bank, and Polaris Bank citing non-compliance.
Regulatory Intervention
CBN dissolves the board and management of Union Bank citing governance and compliance failures.
The Central Bank of Nigeria has issued a strong statement of support for Union Bank of Nigeria Plc following a judgment by the Federal High Court in Lagos. Despite legal proceedings regarding 2024 regulatory actions, the apex bank maintains that Union Bank remains sound and fully capable of meeting its obligations.
The Central Bank of Nigeria (CBN) has moved to reassure stakeholders of Union Bank of Nigeria’s operational stability following a Federal High Court judgment in Lagos. The ruling pertains to the apex bank's January 2024 regulatory interventions, with the CBN pledging to maintain oversight while reviewing the court's specific findings.