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Union Bank retains best agric, SMEs support bank
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Chukwuma Soludo, CBN Governor, who presented the award to Ado Abdullahi, the bank’s executive director, operations (South), during the Annual Microfinance/Entrepreneurship Awards held in Abuja recently, said Union Bank had the highest percentage score in terms of investments relative to the set aside funds, as well as geographical spread and sectoral allocation.
He also stated that the Bank has been consistent in excelling in credit purveyance to the rural populace for over eight years. In 2006, Union Bank guaranteed a total of 40,855 loans valued at N3,383,303,460 only.
The performance represented 79 percent and 82 percent in terms of number and value of loans disbursed by all the commercial banks under the ACGSF, Soludo stressed.
Soludo said the bank was noted for its product, the Civil Service Farming Scheme and had added the patronage of the Trust Fund Model in some states of the federation.
Similarly, four of the Bank’s customers won national awards under the ACGS while Beauty Base Limited got the Best Entrepreneur (Small Business Model) award under SMEEIS.
The Bank also carted away the Best Bank for the Finance of the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) for year 2006.
Financial analysts said that the awards attest to Union Bank’s penchant for developing the real sector of the economy over the years.
Sani Mohammed Maaji emerged as the Best National Farmer (Arable Crop); Titus Asaju became the best national farmer (Tree Crops); Martins Anetekhai got the best national farmer (Fisheries) while Dedora Farms Nigeria Limited emerged as the best national farmer (Poultry).
The International Annual Microfinance/Entrepreneurship Awards were introduced in 2006 as a platform for recognizing individuals and institutions that have distinguished themselves in their support for microfinance
and entrepreneurship development in Nigeria.
He also stated that the Bank has been consistent in excelling in credit purveyance to the rural populace for over eight years. In 2006, Union Bank guaranteed a total of 40,855 loans valued at N3,383,303,460 only.
The performance represented 79 percent and 82 percent in terms of number and value of loans disbursed by all the commercial banks under the ACGSF, Soludo stressed.
Soludo said the bank was noted for its product, the Civil Service Farming Scheme and had added the patronage of the Trust Fund Model in some states of the federation.
Similarly, four of the Bank’s customers won national awards under the ACGS while Beauty Base Limited got the Best Entrepreneur (Small Business Model) award under SMEEIS.
The Bank also carted away the Best Bank for the Finance of the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) for year 2006.
Financial analysts said that the awards attest to Union Bank’s penchant for developing the real sector of the economy over the years.
Sani Mohammed Maaji emerged as the Best National Farmer (Arable Crop); Titus Asaju became the best national farmer (Tree Crops); Martins Anetekhai got the best national farmer (Fisheries) while Dedora Farms Nigeria Limited emerged as the best national farmer (Poultry).
The International Annual Microfinance/Entrepreneurship Awards were introduced in 2006 as a platform for recognizing individuals and institutions that have distinguished themselves in their support for microfinance
and entrepreneurship development in Nigeria.
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