Union Bank of Nigeria has been named Best Company in Workplace Practice at the Sustainability, Enterprise and Responsibility Awards (SERAS), in recognition of its employee-focused policies and commitment to fostering an inclusive and supportive work environment.
The award was presented at the 2025 SERAS ceremony in Lagos, following a rigorous assessment by a panel of multinational, independent judges who evaluated participating organisations on their corporate social responsibility and sustainability initiatives.
In a statement issued on Thursday, the lender said it distinguished itself through workplace policies that exceeded statutory requirements and delivered measurable improvements in employee wellbeing.
Central to the judges’ commendation was the introduction of five months of fully paid maternity leave, alongside the establishment of an on-site crèche. These measures, the panel noted, have been instrumental in advancing gender equity and providing meaningful support for working parents.
Union Bank also recorded its highest promotion rate in a decade, with 24 per cent of employees promoted across departments, underscoring its emphasis on career development and internal mobility.
In addition, the bank implemented a 40 per cent salary increase aimed at strengthening employees’ financial wellbeing, easing economic pressures, and enhancing overall productivity.
Beyond the workplace practice category, Union Bank received nominations in three additional areas: Education Intervention of the Year, Best in Gender Equity and Women Empowerment, and Best Company in Reporting and Transparency.
The bank emerged first runner-up in both the Gender Equity and Women Empowerment and Education Intervention categories, further highlighting the breadth and depth of its social impact initiatives.
SERAS judges cited Union Bank’s capacity to generate substantial social value, particularly through policies aligned with Sustainable Development Goal 5 on gender equality. They also drew attention to enhanced wellness programmes, including mental health support and flexible working arrangements, which have contributed to a more inclusive workplace culture and created positive ripple effects within the wider community.
Commenting on the recognition, Union Bank’s Chief Brand and Marketing Officer, Ms. Olufunmilola Aluko, said the award reflected the institution’s long-term strategy of embedding responsibility at the core of its operations.
“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,” Ms. Aluko said.
She added that the measurable outcomes, including improved employee satisfaction, increased productivity, and significant progress in gender inclusion, demonstrated the strength and adaptability of the bank’s approach.
Ms. Aluko reaffirmed Union Bank’s commitment to driving positive social transformation across Nigeria, describing the recognition from SERAS as an encouragement to further deepen its sustainability efforts.
