Union Bank of Nigeria has been named Best Company in Workplace Practice at the Sustainability, Enterprise and Responsibility Awards.
In a statement from the lender on Thursday, the award was presented to the bank at the ceremony which took place in Lagos.
This recognition followed a comprehensive assessment by SERAS multinational independent judges who rigorously evaluated applicants’ Corporate Social Responsibility and sustainability initiatives.
Union Bank received nominations across four categories: SERAS Education Intervention of the Year, Best Company in Workplace Practice, Best in Gender Equity and Women Empowerment, and Best Company in Reporting and Transparency.
The Bank also achieved first runner-up positions in both the Gender Equity and Women Empowerment and Educational Intervention categories, highlighting the strength of its commitment to these critical areas.
Part of the consideration for the award includes Union Bank’s introduction of five months of fully paid maternity leave, exceeding statutory requirements, and the establishment of an on-site crèche. The Bank also recorded its highest promotion rate in ten years, with 24 per cent of employees advancing across departments. A significant 40 per cent salary increase further enhanced employee financial wellbeing, reduced economic pressures and boosted productivity.
The judges recognised Union Bank’s initiatives for generating substantial social value, particularly in advancing gender equality through comprehensive maternity benefits aligned with Sustainable Development Goal 5. Enhanced wellness programmes featuring mental health support and flexible working arrangements fostered a more inclusive workplace, improving overall staff wellbeing. The Bank’s prioritisation of employee and family needs created positive ripple effects throughout the broader community.
Commenting on the award, Chief Brand and Marketing Officer at Union Bank, Olufunmilola Aluko, stated, “Our workplace initiatives are firmly anchored in our triple pillar model of Citizenship, Sustainability and Innovation, which underpins our commitment to responsible financial, environmental and socio-economic development. This framework empowers us to champion best practices across the sector. The measurable outcomes, including enhanced employee satisfaction, increased productivity and significant progress in gender inclusion, demonstrate the strength and adaptability of our approach.
“We are confident these efforts will continue driving positive social transformation across Nigeria. Union Bank is deeply honoured by this recognition from SERAS and all sustainability stakeholders, and we remain dedicated to advancing these vital initiatives.”
Now in its 19th year, SERAS has consistently established the benchmark for corporate social responsibility and sustainability excellence. This year’s edition, themed ‘Sustainability 2.0: Innovating for Impact and Inclusive Growth’, celebrated corporate entities and leaders who pushed creative, technological and strategic boundaries to deliver measurable community and industry impact.
