Union Bank of Nigeria has reaffirmed its status as a going concern with stable operations, responding to media queries sparked by Central Bank Governor Olayemi Cardoso's remarks at the 304th Monetary Policy Committee (MPC) briefing.
Cardoso clarified that banks under regulatory intervention face unique recapitalisation timelines due to their circumstances, distinct from others with more preparation time.
Union Bank's Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, said the Governor's comments align with the bank's messaging.
“The Governor’s remarks reinforce what has consistently been our position. Union Bank remains under strong regulatory oversight with a resilient franchise, stable operations, and uninterrupted service delivery,” Aluko stated.
She stressed that all customer deposits remain safe and secure, with the bank operating transparently within the regulatory framework and collaborating with the CBN on recapitalisation.
Union Bank pledged updates as engagements progress, prioritising customer protection, financial stability, and service continuity amid the system-wide strengthening programme.
