Union Bank emerges most transport friendly Bank


Union Bank of Nigeria Plc last week emerged as the nation’s most transport friendly bank, further consolidating its pedigree as key player in the nation’s economy.

The award was conferred on the bank at a dinner/gala night held at the Muson Centre Lagos, under the aegis of the Federal Ministry of Transport and Build-craft West Africa to round off the 2010 Transport Week.

Speaking at the ceremony which attracted five state governors, represented by their commissioners of transport, the Comptroller General of Customs and Excise, eminent transporters and banks, automobile companies and oil and gas companies, the chairman of the occasion, Minister of Transport, Honourable Yusuf Suleiman said that the award was well deserved.

The Minister who was represented by the Emir of Karu, Federal Capital Territory, Emmanuel Kyauta Yupwe said that the process of selection was transparently conducted and Union Bank won by merit.

Union Bank was adjudged the most transport friendly bank, after a rigorous selection process by the award committee of the ministry drawn from stakeholders in the transport sector which shortlisted four banks considered outstanding in transport financing in the past five years, 2005 – 2009.

Union Bank’s total exposure to the transport sector during the period under review was to the tune of N160.97billion covering aviation, maritime, road transport and road infrastructure.

Earlier in an acceptance letter to the ministry, the Group Managing Director/Chief Executive of the Bank, Mrs Funke Osibodu said that it was gratifying to note that the award was coming at a time the bank was overcoming the recent challenges in the industry and making great strides to regain its leadership position.

The award, she said, was no doubt, an added impetus to the management’s efforts in repositioning the great institution and a further clarion call to duty.

Francis D Barde

Principal Manager

Corporate Affairs

0802-319-1736, 0807-325-2591

August 17, 2010





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