Union Bank of Nigeria has reaffirmed its stability and ongoing engagement with regulators following comments made at the 304th Monetary Policy Committee (MPC) press briefing of the Central Bank of Nigeria.
The clarification comes after the CBN Governor, Olayemi Cardoso, addressed questions from journalists regarding the regulatory framework for institutions currently under intervention and the structural considerations shaping the recapitalization timeline.
Speaking at the briefing, Cardoso noted that banks under regulatory oversight operate within unique circumstances that require a differentiated approach, distinct from institutions that have had a longer runway to prepare for recapitalization. His remarks were in response to media inquiries on the operational status of affected institutions.
Reacting to the development, Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, said the Governor’s comments are consistent with the bank’s long-standing communication with stakeholders.
She reiterated that Union Bank remains a going concern, maintaining stable operations, a resilient franchise and uninterrupted service delivery across its channels.
According to her, the bank continues to operate under strong regulatory oversight and active supervisory engagement.
She emphasised that all customer deposits remain safe and secure, noting that the bank is functioning within the established regulatory framework while working transparently and constructively with the CBN toward full compliance under the applicable structure.
Union Bank added that its ongoing engagement forms part of the broader system-wide recapitalization programme designed to strengthen Nigeria’s banking sector.
The bank said it will continue to provide updates as regulatory processes advance, while sustaining its commitment to customer protection, financial stability and service continuity.
