Union Bank of Nigeria’s diversity and inclusion strategy (D&I) is built around a simple principle: that a more representative, supportive and inclusive workforce delivers a stronger institution.
In recent years, the bank has moved beyond standalone diversity initiatives to embed inclusion across governance, leadership development, workplace policies, talent management and employee culture.
“Our people are our biggest asset,” says Olufunmilola Aluko, chief brand and marketing officer at Union Bank of Nigeria. “They are diverse, they have varied needs, and they make up distinct groups of individuals and employees that we are committed to catering to. Recognising and responding to that diversity sits at the heart of how we build an inclusive organisation.”
That philosophy is reflected most clearly in the bank’s progress on gender representation. Women now account for 45% of Union Bank’s board, exceeding local governance requirements, while female employees represent 47% of its 6,425-strong workforce. The bank recorded a 26% year-on-year increase in women in leadership positions, with women representing 32% of assistant manager to general manager grades.
Union Bank has also focused on ensuring future leadership pipelines are more balanced. Its latest graduate intake was 60% female, supported by structured initiatives including WeHub, its internal women’s empowerment network, executive coaching for female senior leaders and group coaching for female middle managers.
Our people are our biggest asset … Recognising and responding to that diversity sits at the heart of how we build an inclusive organisation
The bank’s approach combines representation targets with broader changes to employee support and career progression. In response to Nigeria’s challenging economic environment, Union Bank implemented a 40% salary increase in late 2024, while a 2025 promotion cycle covered 24% of employees – its largest in a decade.
The impact has been measurable. Attrition fell from 18% to 14.5%, while the bank says its workforce optimisation reviews have shown stronger productivity and engagement.
Union Bank has also invested in removing structural barriers affecting employees with caregiving responsibilities. Its family-focused policies include five months fully paid maternity leave, 10 days of paternity leave, adoption and surrogacy leave, and CareCube, an on-site childcare facility available to working parents.
The bank has extended its inclusion agenda to employees with disabilities, with 10 staff members with disabilities integrated across the organisation and a commitment to expand representation over the next five years. Its wider accessibility programme includes workplace adaptations and initiatives designed to build awareness and reduce stigma.
Training and culture have been equally important. Union Bank has introduced mandatory diversity, equity and inclusion training for employees, unconscious bias training for managers, and leadership programmes designed to improve fairness in recruitment, promotions and performance decisions.
The bank has also strengthened psychological safety through its Speak-Up framework, supported by the Deloitte Tip-Offs Anonymous solution, giving employees access to independent and confidential reporting channels.
“Within the cultural context of our country and continent, we recognised how important it is to allow people to speak up,” Aluko says. “We have different age groups and different categories of employees, and we understood that it was vital to break down those barriers.”
With a large employee network across Nigeria, Union Bank sees embedding inclusion consistently across its network as an ongoing priority. The next phase of its strategy will focus on expanding its culture refresh programme, strengthening leadership ownership of D&I initiatives, and ensuring inclusion is embedded into leadership behaviour, HR systems and everyday organisational culture.
The result is a D&I strategy focused not only on improving representation but on reshaping the systems that determine how employees are hired, supported, developed and heard.
