Union Bank Reaffirms Stability After Cardoso’s MPC Comments

Story : Written by springnewsng March 3,2026
Union Bank of Nigeria has restated its confidence and operational stability following recent remarks by Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), at the 304th Monetary Policy Committee (MPC) press briefing.
Responding to media enquiries at the briefing, the CBN Governor explained that banks currently under regulatory intervention operate within a distinct framework that requires tailored supervisory approaches—separate from institutions that have had longer timelines to prepare for recapitalisation.
In a statement addressing the clarification, Union Bank said the Governor’s comments are consistent with its long-standing communications to stakeholders. The bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko, noted that Union Bank remains fully operational under strong regulatory oversight, with stable systems and uninterrupted service delivery.
She emphasised that the bank continues to function as a going concern, with a resilient franchise and secure customer deposits across all channels. According to her, Union Bank is working transparently and collaboratively with the CBN, in line with established regulatory structures, as part of the broader industry recapitalisation programme.
Union Bank added that it will continue to provide updates as engagements with regulators progress, reaffirming its commitment to customer protection, financial stability, and service continuity.