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Banking Beyond Balance Sheet: Union Bank's ASBON Recognition and Nigeria's Small Business Economy

Union Bank of Nigeria has been named winner of the Best SME Growth Banking Initiatives Award (2025) at the Nigeria National SME Business Awards, organised by the Association of Small Business Owners of Nigeria (ASBON) in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment.
The recognition arrives at a moment when the relationship between Nigerian banks and Nigerian small businesses is being quietly redefined. Awards in this space have historically rewarded scale and product breadth. The ASBON criteria, by contrast, ask a more practical question: which banks are actually making it easier for entrepreneurs to operate?
WHY THIS AWARD, AND WHY NOW?
Across Nigeria, growth is no longer the only measure of success for a small or medium-sized enterprise. For most owners, success now looks like stability. Cashflow that holds up. Payments that clear without disruption. Financing that arrives in time to seize an opportunity rather than rescue a crisis. Operations that are not slowed by administrative friction.
That shift in what SMEs need has changed what they look for in a bank. The institutions earning their attention are the ones that take the daily reality of running a business in Nigeria seriously, not those with the longest catalogue of products. It is in that environment that the ASBON recognition reads as something more than ceremonial.
Union Bank's SME work over the past year has been organised around a small number of practical priorities, and many of the issues SMEs cite as their biggest pain points sit at the centre of them.
FASTER ONBOARDING, MORE USABLE DIGITAL TOOLS
Account opening and customer onboarding have long been one of the slowest stages of business banking in Nigeria. For an entrepreneur trying to receive payments, pay suppliers, or qualify for a tender, days lost at this stage are days lost from the business itself.
Union Bank addressed this directly with enhancements to its Union360 platform and the rollout of a Straight-Through-Processing (STP) Digital Onboarding Platform. The intent was simple: cut the time between an SME deciding to bank with Union Bank and actually being able to transact. The improvements have meaningfully shortened onboarding, raised digital activity among SME customers, and brought in a notable cohort of new business clients.
Behind those improvements is a recognition that Nigerian SMEs are increasingly multi-channel by default. A small retailer may take payments by transfer, POS, mobile money, and online checkout in the course of a single afternoon. The bank that supports them has to be reliable across all of those rails, not just the ones that photograph well in product brochures.
FINANCING THAT MEETS BUSINESSES WHERE THEY ARE
Access to credit remains the most frequently cited barrier for Nigerian SMEs, particularly for businesses without conventional collateral or a long paper trail of audited accounts. Union Bank's response has been less about loosening criteria and more about widening the range of evidence that counts. Consistent transaction history, active account use, and clear cashflow patterns now carry meaningful weight in how the Bank assesses a small business. For a generation of entrepreneurs whose operations are real but whose paperwork is light, that is a material change. The Bank's SME lending over the review period reflected this orientation, with funding directed at working capital, inventory, equipment, and the kind of operational expansion that sits between mere survival and genuine scale.
THE HUMAN SIDE OF THE WORK
Digital infrastructure matters, but it does not replace the value of someone an entrepreneur can actually call. Union Bank's SME engagement is supported by a network of relationship managers, direct sales agents, and branches across the country. The Bank's "Adopt, Engage and Grow" campaign was designed to reach SMEs at this human level, not as a once-a-year touchpoint, but as a sustained relationship that meets businesses where they are, both physically and operationally. The approach reflects a basic truth about small business banking in Nigeria.
Entrepreneurs operate under pressure that is rarely visible from a head office. The institutions they trust tend to be the ones whose people understand that pressure, respond when it matters, and treat the relationship as ongoing rather than transactional.
UNION BANK OF NIGERIA AND ASBON
Union Bank's recognition is also tied to its partnership with ASBON, through the SME Empowerment Challenge run jointly by the two organisations.
The Challenge encouraged entrepreneurs to open or reactivate business accounts, maintain proper transaction records, and develop structured plans for growth. On its surface, it was a campaign. In substance, it was an attempt to nudge a behaviour that Nigerian SMEs themselves often identify as one of the hardest to sustain: the discipline of running the business as a business, with clean books, separated finances, and a clear view of where it is going.
That discipline matters because it is the gateway to almost everything else. Loans, grants, supplier credit, partnerships, and public sector contracts all depend on a business being able to show how it actually operates. By building that habit alongside ASBON, Union Bank invested in something that outlasts any single campaign cycle.
WHAT THE AWARD ACTUALLY SIGNALS
There is a tendency to read awards as endpoints. This one reads better as a signpost. Nigerian SMEs are operating in one of the most demanding business environments on the continent. They are also, collectively, the largest source of employment in the country and the most direct route to broad-based prosperity. The banks that serve them well, with patient infrastructure, accessible financing, real human engagement, and a partnership posture toward the wider SME ecosystem, have a role to play that goes well beyond commercial performance.
Union Bank's recognition at the ASBON SME Awards 2025 is, in that sense, an acknowledgement of a posture as much as a portfolio. The work it points to, faster systems, more accessible credit, sustained engagement, and a habit of building alongside SME institutions rather than around them, is the kind of work that compounds quietly over years.
For a bank, that is the most useful kind of award to win. Not the one that celebrates a moment, but the one that confirms a direction.
Credit Union Bank PR

Banking Beyond Balance Sheet: Union Bank's ASBON Recognition and Nigeria's Small Business Economy
Back Page
09-May-2026

2027: Why I went to see Jonathan - Hayatu-Deen

An African Democratic Congress (ADC) presidential aspirant, Mohammed Hayatu-Deen, has met former President Goodluck Jonathan in Abuja to discuss Nigeria’s future and the 2027 elections.

The closed-door meeting reunited both political gladiators who share a long-standing relationship in public service, dating back to Jonathan’s tenure as vice-president and later president.

Hayatu-Deen served on the National Council on Privatisation and chaired the Bureau of Public Enterprises during Jonathan’s tenure as vice-president.

The presidential aspirant equally served on the Presidential Advisory Committee during Jonathan’s tenure as acting president and subsequently as president, contributing to national economic and governance reforms.

Speaking with newsmen after the meeting, Hayatu-Deen said that he came to formally inform Jonathan of his decision to contest the 2027 presidency on the platform ADC.

Hayatu-Deen, an economist and banker, said that his public and private sector career had helped create millions of jobs, motivating his resolve to serve the country more.

He said that he also informed the former president that he had obtained the ADC presidential nomination form from the party’s national secretariat.

Hayatu-Deen commended Jonathan’s statesmanship across Africa, describing him as a strong advocate for democratic growth, electoral integrity and sustainable governance.

Hayatu-Deen was warmly received by Jonathan, who wished him success in his political journey ahead of the 2027 general elections.

Credit NAN: Texts excluding Headline

2027: Why I went to see Jonathan - Hayatu-Deen
Politics
09-May-2026

2027: Jonathan fights Lawsuit seeking to stop him from contesting against Tinubu

Former President Goodluck Jonathan has challenged a lawsuit seeking to bar him from the 2027 presidential election, filed by a lawyer, Johnmary Jideobi.

Jonathan, in a preliminary objection filed by his lawyer, Chris Uche, to challenge Jideobi’s originating summons, prayed Justice Peter Lifu of the Federal High Court to dismiss the suit for want of jurisdiction.

According to the ex-president, the suit is purely speculative, founded on conjecture, premature and predicated on media speculation, as there was no nomination, no election and no cause of action.

“The court lacks jurisdiction to entertain hypothetical constitutional questions.

“The suit constitutes a gross abuse of court process, aimed at obtaining a pre-emptive political judgment.

“Cosmetic joinder of 2nd and 3rd defendants is a mere jurisdictional artifice,” he said.

Jonathan submitted that the issues raised had already been judicially settled by a subsisting judgment of the Federal High Court, Yenagoa.

The former president, therefore, sought an order striking out the suit for want of jurisdiction and as constituting a gross abuse of court process.

The preliminary objection, marked: FHC/ABJ/CS/2102/2025, was filed on May 5 by Uche.

The application was brought in line with Section 251 of the 1999 Constitution and under the inherent jurisdiction of the court.

In the affidavit in support of the application deposed to by Emmanuel Tsebo, a litigation manager in the law firm of Chris Uche, SAN & Co, he said Jonathan was first sworn in as president in 2010 to compete the tenure of his predecessor.

“That the 1st defendant (Jonathan) was thereafter duly elected as president in the 2011 General Elections.

“That the 1st defendant completed his tenure in 2015,” he said.

Tsebo stated that Jonathan had “not been elected as president more than once.”

He said the plaintiff (Jideobi) had no personal interest or legal right whatsoever and was not affected by the subject matter of the suit.

“The plaintiff’s suit is utterly speculative, academic, hypothetical, and not based on any real or existing dispute.

“The plaintiff relies on media publications and conjecture suggesting that the 1st defendant may contest a future election.”

The litigation manager, however, said that the ex-president had not declared any intention to contest any election; not been nominated as a candidate; and not participated in any electoral process giving rise to the suit.

Tsebo said one of the lawyers to Jonathan said “that he has read Section 137(3) of the Constitution of the Federal Republic of Nigeria (as amended) which was introduced by a constitutional amendment (Act No. 10 of 2017) which came into force in June 2018.

“That the tenure of the 1st defendant ended in 2015, prior to the coming into force of the said amendment.

“That the said constitutional amendment does not state that it applies retrospectively.

“That by settled principles of law, constitutional provisions do not operate retrospectively to affect vested rights.

“That at the aforesaid meeting, I was equally informed by the said Counsel, Darlington Owhoji Esq. and I verily believe him as follows:

“That there exists a valid and subsisting judgment of this Honourable Court sitting in Yenagoa, Bayelsa State, which determined the applicability of Section 137(3) to the 1st defendant, and a certified true copy of the judgment is annexed herewith as EXHIBIT ‘A.’

“That the said court unequivocally held that the amendment does not apply retrospectively to the 1st defendant.

“That the said judgment is subsisting.

“That the plaintiff’s present suit seeks to relitigate the same issue already determined by a court of competent jurisdiction.

“That this suit is a collateral attack on a subsisting judgment of a court of competent jurisdiction.”

Tsebo also said that the joining of the Independent National Electoral Commission (INEC) and the Attorney-General of the Federation (AGF) as 2nd and 3rd defendants in the matter is a mere cosmetic jurisdictional artifice, designed to mislead.

He, therefore, prayed the court to dismiss the suit in the interest of justice.

Upon resumed hearing in the suit on Friday, counsel to the plaintiff, Ndubuisi Ukpai, informed the court that the matter was for mention but he was just being served with Jonathan’s proceeses.

Ukpai said a notice of conditional appearance, a preliminary objection, a counter affidavit and a written address were served on him previous day.

The lawyer, who said he would need more time to respond, sought an adjournment.

Responding, Uche, who appeared for Jonathan, confirmed that their processes had been filed on May 5, praying the court to dismiss the case.

He said they got information about the case through the media and hence, the need to file their processes urgently going by the importance of the matter which boiled down on the eligibility of the former president to contest in the next election.

The senior lawyer said it was unfortunate that such a suit is filed by a lawyer who ought to know more that this same matter had been decided by the Federal High Court up to Court of Appeal.

“It is so worrisome filing this nature of suit. I feel bad for this profession because things like this should not be commercialised,” he said.

Uche said he would love to apply that Jideobi, the plaintiff in the suit, is in court in the next adjourned date.

“Learned silk, keep your gunpowder dry,” Justice Lifu told Uche.

After counsel’s agreement, the judge adjourned the matter until May 11 by 2pm for hearing of the ex-president’s objection and the substantive suit.

He ordered all the parties to file and serve their processes before the next adjourned date.

The judge also ordered that hearing notices be issued and served on INEC and AGF, the 2nd and 3rd defendants in the matter, that were not in court.

NAN reports that Jideobi had filed the case, praying the court to bar Jonathan from contesting in the 2027 poll.

Citing constitutional grounds, Jideobi urged the court to issue an order of perpetual injunction, restraining Jonathan from presenting himself to any political party in the country for the purpose of contesting in the poll.

He also urged the court to restrain the Independent National Electoral Commission (INEC) from accepting from any political party, Jonathan’s name or publishing same as a duly nominated candidate for the election.

Jideobi, in the suit marked: FHC/ABJ/CS/2102/2025, sued the former president as 1st defendant.

In the suit dated and filed on Oct. 6, 2025, the lawyer joined INEC and AGF as 2nd and 3rd defendants respectively.

Credit NAN: Texts excluding Headline

2027: Jonathan fights Lawsuit seeking to stop him from contesting against Tinubu
Politics
09-May-2026

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