Union Bank Reaffirms Stability After CBN Governor's Remarks

Union Bank Nigeria issued a statement reaffirming its steadfast position regarding ongoing regulatory engagement in response to recent media inquiries about the Central Bank of Nigeria (CBN). This statement followed comments made by CBN Governor Olayemi Cardoso during the 304th Monetary Policy Committee (MPC) press briefing, where he clarified the regulatory framework governing institutional interventions.

Cardoso's remarks highlighted the complex structure influencing recapitalization timelines and the necessity for different approaches based on unique circumstances. Union Bank's Chief Brand and Marketing Officer, Olufunmilola Aluko, explained that Cardoso's statements align with the bank's consistent messaging to stakeholders.

She reiterated that Union Bank remains a going concern with stable operations and resilient franchise, ensuring uninterrupted service delivery. The bank's position reinforces its commitment to engaging stakeholders and maintaining strong regulatory oversight.