2022 was a remarkable year for Union Bank of Nigeria.

The leading financial institution celebrated its 105th year of serving Nigerians with the announcement of the completion of a landmark transaction that saw the integration of the Bank with Titan Trust Bank to form a stronger union.

This announcement kicked off several noteworthy events and major milestones and Union Bank is pleased to recap these milestones the Bank recorded in 2022. The noteworthy events in each month are summarised below under the respective headings.

January 2022: Union Bank celebrates its 105th year of operations as Titan Trust Bank gets nod from regulators for the official integration. The fusion of both entities created expanded networks, increased operational efficiency and capacity as well as improved service delivery for the customers. The new direction set Union Bank on a path of delivering prosperity and shared growth for its partners and customers all over the African continent.

February 2022: As part of its commitment to push beyond banking to promote innovation and creativity nationwide, Union Bank partnered with AfricaNXT – formerly known as Social Media Week, to host the largest gathering of innovators across Africa. As an organisation focused on accelerating digital innovation, Union Bank showcased some of its ‘Digital Ventures’ products (Kula, Booster and M36) at the event via an interactive booth. The Bank also hosted two insightful sessions – a panel discussion and a masterclass session – targeted at the tech ecosystem.

March 2022: As an organisation committed to leading the charge for inclusion and parity, Union Bank has consistently leveraged International Women’s Day (IWD) to promote impactful discourse and encourage positive action for gender equality-2022 was no different. In in line with the 2022 global theme #BreakTheBias, the Bank hosted an event to celebrate everyday women breaking biases and shattering barriers in their professional and personal lives.

A key highlight of the event was the inauguration of the first executives for Wehub – Union Bank’s Women Empowerment Hub which is an internal network launched in 2016 to motivate, connect and provide support to women within the Bank. The newly elected executives were charged with the task to drive the implementation of impactful initiatives aimed at advancing the Bank as a progressive place to work.

April 2022: As part of its ‘Beyond Banking’ strategy and commitment to innovation and technological advancement in Nigeria, Union Bank launched SpaceNXT a future-forward, purpose designed co-working technological and innovation hub built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria. Located within the Union Bank Head Office in Lagos, Nigeria, SpaceNXT provides an enabling environment where tech enthusiasts, visionaries and creators can converge for the propagation of new ideas. It is a launching pad for innovators to collaborate, develop and improve on ideas around digital systems and tech-based solutions.

May 2022: Following the completion of the official integration, and the subsequent receipt of all necessary regulatory approvals, Union Bank posted a formal notice of change in control with TGI Group, parent of TTB, now the majority shareholder and core investor in Union Bank. In addition to this, the Bank also announced the completion of the divestment of the Bank’s entire shareholding interest (direct and indirect) in its subsidiary, Union Bank (UK) Plc and the effective appointment of a Chief Executive Officer, Board Chair, and the reconstitution of a new Board of Directors. The new CEO, Mr. Mudassir Amray and Board Chair, Farouk Gumel assumed office on the 2nd of June, 2022

June 2022: Leading development bank, Afrexim Bank backed Titan Trust Bank with the sum of $300,000,000 to support the integration with Union Bank. This is to ensure the Bank is well positioned to deliver value to its customers and shareholders.

July 2022: Following a successful first season, Union Bank announced the return of Save & Win Promo, its flagship campaign aimed at rewarding new and existing customers with cash rewards and other gift items worth over N55,000,000. The second edition of the nationwide campaign coincides with the Bank’s 105th anniversary and will benefit more customers to appreciate them for their support and loyalty over the years.

August 2022: As part of its continued commitment to the UN SDG5, Union Bank continued its long-standing partnership with Junior Achievement Nigeria (JAN) to impact over 300 girls in the 21st edition of the Leadership Empowerment Achievement and Development (LEAD) Camp which marked the eighth year of collaboration between JAN and Union Bank. The week-long event was used to provide guidance and improve the skill sets of the girls in areas of financial literacy, entrepreneurship, technology, creative arts, and entertainment. Development sessions in the program included coding, understanding sexual abuse, and personal hygiene, while the participants also received mentorship from respectable and high-ranking women in the country’s private and public sectors.

September 2022: Mr. Farouk Gumel, Chairman, Board of Directors, Union Bank of Nigeria delivered the keynote address that formed part of the theme for the 15th Annual Banking and Finance Conference tagged Repositioning the Financial Services Industry for an Evolving Global Context. In his remarks, Farouk Gumel emphasised how the rapidly expanding agricultural sector in Nigeria has the potential to grow exponentially and contribute not just to the advancement of the Nigerian economy, but also the welfare of the local farmers who form a large percentage of the unbanked.

He highlighted how Union Bank in their 105-year history continues to support the Nigerian farmer and pointed out that the recent integration with the parent TGI group has further opened more opportunities for the Bank to leverage international partnerships to service the rural economy.

In the same month, Union Bank partnered with WACOT Rice Limited – a foremost rice producing company and subsidiary of Tropical General Investment (TGI) Group, to provide banking solutions for 6,000 local farmers including men, women, and young people across 4 Local Government Areas in Kebbi State. This partnership, called the Kebbi Financial Inclusion Drive is in line with Union Bank’s commitment to boost financial inclusion in Nigeria.

October 2022: Union Bank signed a partnership with Mobihealth – a globally recognised, integrated telehealth provider based in the UK, facilitating health solutions for underserved communities in Africa. This first of its kind partnership is part of Union Bank’s commitment to enabling success for its customers. The Bank aims to leverage this partnership to expand access to high-quality and convenient healthcare services for its customers at discounted rates.

In addition, Union Bank also secured a $25 million funding line from Africa Agriculture & Trade Investment Fund (AATIF) to expand its agricultural business footprint in Africa. This funding aims to support the Bank’s agri-expansion and outreach strategy and is expected to further contribute to the growth of the competitive food and agricultural sector in Nigeria that is fully aligned with national priorities – including improving food security, increased agricultural production and local food processing.

November 2022: To expand its footprint in Africa, Union Bank signed an MoU with Attijariwafa Bank – a leading multinational commercial bank and financial services company based in Morocco. Through this partnership, both Banks will develop new joint business opportunities for their respective customers that seek to support the trade finance and investment corridors between Nigeria and all the countries where Attijariwafa Bank operates.

December 2022: To closeout its 105th year anniversary activities, Union Bank launched a brand-new sonic identity tagged ‘The Sound of Union’. The launch of the Sound of Union – a 9-track EP, spanning different genres including afrobeats, highlife, jazz, alternative rock and more – is part of the Bank’s strategy to engage with todays and tomorrow’s generations.

The goal of the launch is to leverage the universality of music to build better connections with new and existing audiences through this unique sound identity. The Sound of Union EP is now streaming exclusively on Boomplay.

Awards & Recognitions: In 2022, the Bank received several awards and recognitions both locally and globally including the Global Finance award for the Best SME Bank 2023, the Euro Money Euromoney ‘Highly Regarded’ Bank for Corporate Banking, Corporate and Social Responsibility (CSR) and Environmental, Social and Governance and ‘Notable’ Bank for SME Banking and Digital Solutions.

We were also awarded the Middle East and Africa Banking Innovation Awards for Best Trade Finance Platform 2022, and Budgit Active Corporate Citizens award for Civic Investments.

As we look ahead to 2023, Union Bank remains committed to providing simpler and smarter solutions for its customers.

Ahead of the Yuletide holidays, Ecobank Nigeria has reassured that customers will be able to shop seamlessly and carry out all their transactions via the Ecobank Digital platforms, which include the Ecobank Mobile app, USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, and PoS terminals.

Also available to customers is an extensive distribution network of over 60,000 Ecobank Xpress Point agency banking locations spread across the country.

Speaking on Ecobank Mobile app, Osahon Akpata, Group Head, Consumer Payments, Ecobank, said the app, which is available for download on the Apple App Store and Google Play Store, makes it extremely easy to bank on the go 24/7, enabling customers to meet their payment needs anywhere and at any time directly from their mobile device.

“Our Mobile app allows customers manage their accounts, send money, pay bills, buy airtime, pay merchants, and do other transactions across the 33 African countries where Ecobank is present. The mobile app is secure, reliable, convenient, and available to everyone.  This is the season of giving and we offer our customers more options for sending money to loved ones. They can send money instantly to the 33 African countries where Ecobank is present (subject to local regulations). They can transfer money to other bank accounts both domestically and internationally. Our customers can also send an Xpress Cash token for redemption at our ATMs or Xpress Point agents to those who do not have a bank account. If they do not have the account number of the person they want to send money to, we offer a unique service, transfer by email or SMS where they share a secured link to the beneficiary who can redeem the funds into any bank account in Nigeria. Other unique features, include the opportunity to open an Xpress Account; set travel notifications for enhanced card security; block and unblock one’s bank card; attach other bank cards for transactions; as well as being able to add one’s banking profiles from different countries,” he stated.

Further, Akpata said Ecobank customers can “scan and pay for goods via QR code with EcobankPay; split payments with other Ecobank mobile app users and place a standing order for future payment.” He encouraged Nigerians to download the app for firsthand experience, especially during this Yuletide season for easy banking services both locally and across Africa, emphasizing that with the Ecobank Mobile app, customers do not need to carry cash for shopping, He pointed out that users of the Mobile app have access for help or support by chatting with RAFIKI.

Ecobank Nigeria Limited is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai).

Ecobank Nigeria is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.

L-R:  Oluwatobi Ajayi, Chairman, Nord Automobiles Limited; Ifedayo Agoro, Chief Executive Officer, Dang Lifestyle; Abubakar Suleiman, Managing Director and Chief Executive Officer, Sterling Bank Plc; Ibidapo Martins, Chief Marketing Officer, Sterling Bank Plc and Ehis Ero, Chief Executive Officer, Ero Crafted at the unveiling of Made by Nigerians press conference in Lagos recently.

As part of its commitment to the growth and development of Nigerian businesses and the economy, Sterling Bank Plc, one of Nigeria’s leading financial institutions, has created the Made-By-Nigerians platform. The Made-by-Nigerians platform is a community designed to showcase the best products and services made by Nigerians, at home and abroad.

The bank will hold a Fair from the 23rd to the 24th of December 2022 to exhibit the best Nigerian-made- goods to the highest international standards. Interested and enthusiastic exhibitors and patrons can visit mbn.ng/tradefair to register for the fair.

Managing Director and Chief Executive Officer of the Bank, Abubakar Suleiman, disclosed at a press conference in Lagos that participants should expect a spectacle comprising physical and virtual exhibitions, workshops, discounts, freebies, huge deals, games, refreshments, and entertainment, among others.

Abubakar said the two-day event is the perfect avenue for Nigerian businesses to showcase and promote their products on a global scale by connecting buyers, sellers, and everyone in the supply chain in a fun and relaxed atmosphere.

He remarked that the bank is supporting the fair because it is on a mission to promote brands owned by Nigerians to help them build capacity, grow their businesses, and transform the Nigerian economic climate.

In his words: “We are passionate about growing the economy, and we believe this is one of the ways to do it.” He disclosed that over 300 merchants have registered on the platform and are ready to serve buyers with products of the highest quality.

The CEO also said the bank will support the businesses on the platform with access to professional services such as accounting, legal, and marketing, among others, in a bid to transform them from family-owned businesses into bankable entities that can attract professional employees, lending from banks, and new investors.

The press conference had chief executives of some of the most notable Nigerian brands, such as Ehis Ero of Ero Crafted, Mariam Animashaun of Tang Groo Food Company, Omovo Ayoola, Oluwatobi Ajayi of Nord Motors; Ahmed Akinsemoyin of Zorkle, Carla Sonjirin of Spa Melori, and Ifedayo Agoro of Dang! Lifestyle, in attendance.

They commended Sterling Bank for the initiative and expressed hope of collaborating with the lender to scale their operations.

MBN is a community for those who dare to dream. It is a hub that is accessible to every business within Nigeria and/or owned by Nigerians. Its focus is to help build and better position Nigerian brands to capture the growing global demand.