Union Bank of Nigeria has reiterated that it remains a going concern with smooth operation and stable service delivery in response to recent media questions at the Central Bank of Nigeria’s (CBN) 304th Monetary Policy Committee (MPC) press briefing.

The bank’s affirmation comes in the wake of the clarification of the CBN governor, Olayemi Cardoso, on the regulatory framework governing institutions under intervention while speaking on the complexities and structural considerations influencing the recapitalisation timeline.

According to the CBN boss, institutions currently under regulatory oversight are subject to unique circumstances that necessitate a differentiated approach, distinct from others.

The clarification was made in direct response to queries raised by journalists seeking insight into the operational status of banks under intervention.

Union Bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko, explained that the CBN Governor’s remarks aligned with Union Bank’s consistent messaging to stakeholders.

She said Union Bank remained a going concern with stable operations, a resilient franchise and uninterrupted service delivery.

“The governor’s remarks reinforce what has consistently been our position in all engagements with stakeholders. Union Bank remains under strong regulatory oversight and active supervisory engagement. The Bank is a going concern with a resilient franchise, stable operations and uninterrupted service delivery across all channels.

“We have maintained and continue to maintain that all customer deposits are safe and secure. That position has not changed. The Bank continues to operate within the established regulatory framework, working transparently and constructively with the Central Bank of Nigeria towards full compliance in line with the applicable structure,” Aluko said.