Justice Chukwujekwu Aneke of the Federal High Court in Lagos has reinstated the Union Bank Board and ruled that the Central Bank of Nigeria acted outside its statutory powers in dissolving the board and management of the bank, declaring the January 2024 intervention unlawful. Delivering judgment on Wednesday in Suit No. FHC/L/MISC/1377/2025, the court held that the apex bank’s actions were ultra vires and inconsistent with the provisions of the Banks and Other Financial Institutions Act 2020..................…...READ MORE