Activities heralding the commemoraton of the 100th year anniversary of Union Bank of Nigeria commenced yesterday in Lagos.
The anniversary is being marked five years after the bank was acquired by a new international investor group in 2012. Following this, the new management team led by Chief Executive Officer, Mr. Emeka Emuwa, embarked on a transformation programme to reposition the financial institution with the objective of becoming a leading provider of quality financial services in Nigeria.
Speaking at the event, Emuwa said 100 years was no easy feat for any institution, adding, “I am proud to be a part of this milestone achievement at Union Bank. While we will celebrate our past achievements, this milestone also signals the start of our legacy for the next one hundred years.”
He explained that this year will be about “showcasing who we are as an organisation – a responsive corporate citizen to our communities and a champion for sustainability and social innovation.”
Emuwa also unveiled the guiding themes for the bank’s 100th celebrations which are Celebrate. Impact. Lead. The bank will be unveiling activities under the three themes during the course of the year.
Union Bank was established in 1917 as Colonial Bank and in 1922, Barclays Bank acquired it, changing the name to Barclays Bank DCO (Dominion, Colonial and Overseas) and through the years, the Bank went on to become one of Nigeria’s leading financial institutions.
Barclays Bank DCO was renamed Barclays Bank Nigeria Limited following the enactment of the Companies Act of 1968. In 1971, the bank was listed on the Nigerian Stock Exchange and the Nigerian government acquired a stake making it a wholly Nigerian –owned bank. In 1979, following a public offering, the bank was renamed Union Bank of Nigeria to reflect the new ownership structure.