Union Bank is breaking new ground in Nigeria's financial sector by introducing an industry-leading maternity leave policy and an on-site crèche facility, demonstrating its commitment to supporting working parents. The new initiative includes a comprehensive five-month fully paid maternity leave, exclusive of annual leave entitlements, and is available to all full-time female employees. In addition, the Bank is introducing a pilot on-site crèche facility at its Head Office, slated to launch in December 2024, available for both male and female employees.
In comparison to Nigeria’s Labour Act, which mandates 12 weeks of maternity leave, Union Bank’s policy sets a new benchmark by extending paid maternity leave to five months. This enhancement aligns with SDG 3: Good Health and Well-being, ensuring mothers have more time to recover and bond with their newborns. Furthermore, returning mothers will benefit from a one-hour late resumption for the first month, easing the transition back to work and promoting better work-life balance.
Union Bank’s on-site crèche facility will further support parents by providing a convenient, safe, and nurturing space for their children, featuring lactation rooms and other family-friendly amenities. This initiative helps working mothers and fathers alike balance their professional and parental responsibilities, contributing to SDG 5: Gender Equality by enabling women to stay active in the workforce and progress in their careers.
The bank’s leadership on gender diversity directly contributes to broader economic growth. Studies show that gender parity in the workforce could increase global GDP by 26%. By implementing these policies, Union Bank is ensuring that its female employees can continue to thrive and contribute to its success while creating a more inclusive and supportive workplace.
Omayuli Wale-Ajayi, Chief Talent Officer of Union Bank, commented:
"At Union Bank, we are proud to lead the banking sector with comprehensive maternity leave for working mothers and crèche facilities for children of all full-time employees. These initiatives are critical in fostering an environment where women can excel professionally while balancing their personal lives. With five months of paid maternity leave and accessible childcare solutions, we aim to retain and empower top talent, supporting our employees’ well-being and contributing to the bank's long-term success."
These progressive policies reinforce Union Bank's position as a forward-thinking and inclusive employer, committed to creating a workplace that prioritises employee well-being and aligns with global sustainability goals.
