Fitch Ratings has downgraded Union Bank of Nigeria Plc (UBN) Long-Term Issuer Default Ratings (IDR) to ‘CCC’ from ‘B-‘ and its National Long-Term Rating to ‘B+(nga)’ from ‘BBB(nga). Union Bank of Nigeria’s viability rating (VR) has also been downgraded to ‘ccc’ from ‘b-‘, according to Fitch. The downgrades reflect the Fitch-estimated prolonged breach of the…
A High Court in Lagos has awarded N112,050,000 against Union Bank Plc for wrongly selling a property located at No. 6, Moore Road, Ikoyi, Lagos State, at a grossly undervalued price of N60 million. Justice I.O. Harrison delivered the judgment in a suit filed by Mrs. Olubunmi Ogunde, Yewande Ogunde, and others, with Union Bank…
The operatives of the Economic and Financial Crimes Commission (EFCC) have arrested two former staff of Union Bank for allegedly stealing the sum of N4,199,500 belonging to a deceased customer of the bank. The suspects, Idah Ogoh, and Agbo Okwute, were arrested on Friday, June 21, 2024, in Makurdi, Benue State. The EFCC spokesperson, Dele…
