The NBU’s ultimatum failed: Smiliansky made a sensational statement

1 July 10:50

Ihor Smiliansky, CEO of JSC “Ukrposhta,” stated that he continues to perform his duties despite the decision by the National Bank of Ukraine, which is demanding his removal and the appointment of a new head of the company. Ihor Smilianskyi published a statement on his Telegram channel, addressing the company’s customers, partners, and employees, according to "Komersant Ukrainian"

“We officially announce that Ihor Smilianskyi, CEO of JSC ‘Ukrposhta,’ continues to perform his duties in full in accordance with current legislation,” he wrote.

The company’s CEO also noted that “Ukrposhta” is operating as usual, taking into account:

the security situation;
the consequences of Russian shelling;
weather conditions;
the operational situation in certain regions.

Smiliansky urged the public to trust only official statements from Ukrposhta.

The CEO accompanied his statement with a photo of himself wearing a T-shirt with the English phrase: “It’s not over when you lose. It’s over when you quit.” In Ukrainian, this phrase means: “The game isn’t over when you lose. The game is over when you give up.”

Smiliansky thanked those who supported him following the National Bank’s decision and stated that he continues to work.

He also addressed, with a touch of irony, those who, in his words, had already been expecting his dismissal.

“I understand those who were waiting—and are still waiting—to see who will win. It’s normal to be on the winner’s side. To those who were already seeing me out the door ahead of time, and to my haters—I don’t even know what to say. But today is not your day. And it would be better to direct the funds spent on paid articles and bots toward the Armed Forces of Ukraine,” he wrote.

Smiliansky emphasized that JSC “Ukrposhta” is also operating as usual, taking into account the security situation, the consequences of shelling, and weather conditions.

“Regarding the company’s operations or its management, please rely exclusively on official statements from JSC ‘Ukrposhta,’” the company’s CEO concluded.

What the National Bank Requires

On June 23, 2026, the National Bank of Ukraine announced that it had determined Igor Smiliansky did not meet the professional suitability requirements for the head of a financial payment services provider.

The relevant decision was adopted by the NBU Committee on Supervision and Regulation of Banking Activities and Oversight of Payment Infrastructure.

According to an official statement from the National Bank of Ukraine, the authorized body of “Ukrposhta” must:

remove Ihor Smiliansky from the company’s leadership within five business days;
appoint a new head within two months;
bring the company’s operations into compliance with the law and NBU regulations.

Thus, the regulator directed its demand not directly at Smiliansky, but at the governing body of the state-owned company.

Why the NBU deemed Smiliansky non-compliant

The National Bank explained its decision based on the results of supervisory measures regarding Ukrposhta’s operations in 2023–2026.

According to the regulator, during this period, violations and shortcomings were identified in the company’s operations related to:

the provision of payment services;
financial monitoring;
the internal control system;
corporate governance;
risk management;
compliance with the NBU’s regulatory and legal acts.

Before the decision was made, Smiliansky underwent an interview with the National Bank’s Qualification Commission.

What conclusions did the NBU commission reach?

The National Bank stated that, after analyzing the materials and Smiliansky’s responses, the commission concluded that he lacked sufficient knowledge and practical application of legal requirements in the field of payment services.

According to the NBU, the head of “Ukrposhta” did not demonstrate the required level of:

knowledge of regulatory acts;
organizing financial monitoring;
risk management;
ensuring internal controls;
organizing proper corporate governance.

Smilyansky disagreed with the regulator’s conclusions.

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What sanctions did the NBU impose on “Ukrposhta”?

The National Bank reported that it repeatedly imposed enforcement measures on “Ukrposhta” between 2024 and 2026.

Specifically:

in February 2024, the company was fined 17.39 million UAH for violations in the area of financial monitoring;
in July 2025, a written warning was issued;
in December 2025, it issued another written warning for violations in the payments market;
in March 2026, a fine of 255 thousand UAH was imposed for the late submission of requested documents;
In May 2026, the company was fined 1.7 million UAH for deficiencies in corporate governance, internal control, and risk management;
In June 2026, the NBU imposed a fine of 2.54 million UAH and issued a written warning for violations of payment services legislation.

Ukrposhta had previously stated that it plans to challenge some of the regulator’s decisions in court.

Does the NBU’s requirement mean automatic dismissal?

The National Bank’s decision does not mean that Smiliansky automatically loses his position upon publication of the notice.

His suspension or dismissal must be formalized by the authorized governing body of Ukrposhta.

JSC “Ukrposhta” is a state-owned joint-stock company. The company’s shares are owned by the state, and management functions are carried out through designated state bodies and corporate mechanisms.

That is why there may be a certain time lag between the NBU’s decision and the actual personnel decision.

At the same time, the National Bank considers its requirement to be mandatory in accordance with payment services legislation.

Why “Ukrposhta” Is Subject to the National Bank’s Oversight

“Ukrposhta” is not merely a postal service operator.

The company also holds a license from the National Bank to provide financial payment services.

At its branches, you can:

receive pensions and social benefits;
make money transfers;
pay utility bills;
conduct other payment transactions;
access certain financial services.

As a result, the company is subject to supervision by the NBU with regard to its payment activities and must comply with the regulator’s requirements.