By DAYO ADESULU
Union Bank of Nigeria has once again reinforced its reputation as a people-first financial institution after emerging Best Company in Workplace Practice at the prestigious Sustainability, Enterprise and Responsibility Awards (SERAS). The recognition was announced on Saturday, November 29, 2025, at a well-attended ceremony held at the Grand Ballroom of the Oriental Hotel, Victoria Island, Lagos.
The honour places Union Bank at the forefront of workplace excellence in Nigeria’s financial services industry, following a rigorous evaluation by independent multinational judges who assessed corporate social responsibility, sustainability depth, and measurable impact.
SERAS Recognition Highlights Union Bank’s People-First Culture
The SERAS Awards judges commended Union Bank for embedding workplace wellbeing, inclusion, and performance into its core business strategy. The award reflects a growing shift within Nigeria’s corporate space, where employee welfare is increasingly viewed as a driver of productivity, innovation, and long-term sustainability.
Beyond winning the Best Company in Workplace Practice category, Union Bank also earned nominations in three other highly competitive segments:
SERAS Education Intervention of the Year
Best in Gender Equity and Women Empowerment
Best Company in Reporting and Transparency
Notably, the bank emerged first runner-up in both the Gender Equity and Women Empowerment and Education Intervention categories, further underscoring the depth and consistency of its sustainability initiatives.
Workplace Policies That Set Union Bank Apart
At the heart of Union Bank’s recognition is a suite of workplace reforms that go beyond statutory obligations and industry norms. Judges highlighted the bank’s deliberate investments in policies that support employees across different life stages.
One of the standout initiatives is the introduction of five months of fully paid maternity leave, exceeding Nigeria’s statutory requirements. Complementing this policy is the establishment of an onsite crèche at the bank’s head office, a move designed to support work-life balance, improve female retention, and reduce career interruptions for working mothers.
In addition, Union Bank recorded its highest promotion rate in a decade, with 24 per cent of employees advancing across departments. This milestone reflects a transparent and merit-driven performance system that rewards competence and dedication.
The bank also implemented a 40 per cent salary increase, a decision that significantly enhanced employee financial wellbeing. According to SERAS judges, this intervention helped ease economic pressures on staff, improve morale, and boost overall productivity across the organisation.
Advancing Gender Equality and Employee Wellbeing
Judges at the SERAS Awards particularly noted Union Bank’s alignment with Sustainable Development Goal 5 (Gender Equality). The bank’s maternity benefits, childcare support, and inclusive policies were cited as practical steps toward narrowing gender gaps in corporate leadership and retention.
Union Bank also strengthened employee wellness through expanded mental health support, flexible working arrangements, and family-friendly policies. These initiatives, judges observed, created positive ripple effects beyond the workplace, influencing households and communities connected to the bank’s workforce.
Union Bank Speaks on the Award
Reacting to the recognition, Olufunmilola Aluko, Chief Brand and Marketing Officer at Union Bank, described the award as validation of the bank’s long-term people and sustainability strategy.
“Our workplace initiatives are firmly anchored in our triple-pillar model of Citizenship, Sustainability, and Innovation, which guides our commitment to responsible financial, environmental, and socio-economic development,” Aluko said.
She added that the measurable outcomes of these initiatives—ranging from improved employee satisfaction to stronger productivity and progress in gender inclusion—demonstrate the strength and adaptability of Union Bank’s approach.
“We are deeply honoured by this recognition from SERAS and sustainability stakeholders. We remain committed to advancing initiatives that drive positive social transformation across Nigeria,” she stated.
SERAS Awards and the Push for Corporate Accountability
Now in its nineteenth year, the SERAS Awards have consistently set the benchmark for corporate social responsibility and sustainability excellence in Nigeria and beyond. The 2025 edition, themed “Sustainability 2.0: Innovating for Impact and Inclusive Growth,” celebrated organisations that leveraged innovation, technology, and strategy to deliver measurable social and economic outcomes.
Union Bank’s performance at this year’s awards positions it as a model for responsible corporate citizenship, not only within the banking industry but across Nigeria’s broader private sector.
Setting a New Standard for Nigerian Workplaces
With its latest SERAS recognition, Union Bank has demonstrated that strong workplace practices are not just ethical choices but strategic investments. By prioritising employee welfare, inclusion, and transparency, the bank continues to raise the bar for what sustainable corporate leadership looks like in Nigeria.
As competition for talent intensifies and expectations around corporate responsibility grow, Union Bank’s workplace model offers a blueprint worthy of replication across industries.
About Union Bank of Nigeria Plc
Established in 1917, Union Bank of Nigeria is one of the country’s leading financial institutions, guided by its “Simpler, Smarter Banking” philosophy. With over 300 branches nationwide, the bank delivers a wide range of services to individuals, businesses, and public sector clients, including savings and current accounts, loans, trade finance, and digital banking solutions.
Union Bank continues to invest heavily in innovation and customer-centric platforms such as online banking, mobile banking, debit cards, ATMs, and POS systems, reinforcing its position as a trusted and recognisable brand in Nigeria’s financial landscape.
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