Union Bank Named Best Company in Workplace Practice at SERAS Awards

Union Bank Named Best Company in Workplace Practice at SERAS Awards

Lagos, Nigeria — Union Bank of Nigeria Plc has been named Best Company in Workplace Practice at the 2025 Sustainability, Enterprise and Responsibility Awards (SERAS), reinforcing its position as a leader in corporate responsibility and people-focused workplace policies.

The award was presented on Saturday, November 29, 2025, at the Grand Ballroom of the Oriental Hotel, Victoria Island, Lagos, following a rigorous evaluation process conducted by an independent panel of multinational judges.

Union Bank received nominations in 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 emerged first runner-up in the Gender Equity and Women Empowerment and Education Intervention categories.

According to the organisers, the recognition reflects Union Bank’s holistic, people-first workplace strategy, which goes beyond traditional human resource practices to create an inclusive, high-performing and rewarding work environment within Nigeria’s financial services sector.

Key initiatives cited by the judges include the introduction of five months of fully paid maternity leave, exceeding statutory requirements, and the establishment of an onsite crèche at the Bank’s head office to support work-life balance and improve female workforce retention. Union Bank also recorded its highest promotion rate in a decade, with 24 per cent of employees promoted across departments, underscoring its merit-driven culture.

In addition, the Bank implemented a 40 per cent salary increase aimed at improving employee financial wellbeing, easing economic pressures and enhancing productivity.

Judges noted that the Bank’s initiatives generated significant social value, particularly in advancing gender equality in line with the United Nations Sustainable Development Goal (SDG) 5. Enhanced wellness programmes, including mental health support and flexible working arrangements, were also highlighted for improving staff wellbeing and fostering a more inclusive workplace.

Commenting on the award, Olufunmilola Aluko, Chief Brand and Marketing Officer at Union Bank, said the Bank’s workplace policies are anchored on a triple-pillar model of Citizenship, Sustainability and Innovation.

“Our workplace initiatives are designed to deliver responsible financial, environmental and socio-economic outcomes,” Aluko said. “The measurable results — from improved employee satisfaction and productivity to meaningful progress in gender inclusion — demonstrate the strength of our approach. We are honoured by this recognition and remain committed to driving positive social impact across Nigeria.”

Now in its 19th year, SERAS is widely regarded as Nigeria’s benchmark platform for recognising excellence in corporate sustainability and social responsibility. The 2025 edition, themed “Sustainability 2.0: Innovating for Impact and Inclusive Growth,” celebrated organisations and leaders delivering measurable community and industry impact through innovation and responsible business practices.

Industry observers say Union Bank’s workplace initiatives set a strong model for responsible corporate citizenship, both within and beyond the financial services sector.