Union Bank of Nigeria Plc. (“Union Bank” or “the Bank”) is committed to conducting its business activities in a fair, honest and transparent manner. Union Bank has zero tolerance for bribery and corruption, and strives to apply the highest standards of corporate ethics and professionalism in the conduct of its business. This zero tolerance approach also means the Bank is committed to the mitigation, deterrence and detection of bribery, corruption and other unethical practices.
The Board of Directors is ultimately responsible for the Bank’s Anti-Bribery and Corruption Compliance Program which covers prohibition of receipt of gifts, entertainment and benefits, Vendor Management, Whistleblowing and other related activities.
Union Bank requires compliance with applicable Anti-Bribery and Corruption laws in all markets and jurisdictions in which it operates. As a result, all employees, directors, vendors, related third parties, business partners and other stakeholders must comply with the provisions of the Bank’s Anti-Bribery and Corruption Policy
All stakeholders within the scope of Union Bank’s Anti-Bribery and Corruption Policy are required to comply with the following minimum standards:
- Giving, promise to give, or offering payment, benefits, entertainment or hospitability in return for business advantage is prohibited.
- Facilitation payments or kickbacks of any kind is strictly prohibited. (Facilitation payments are typically small, unofficial payments made to secure or expedite a routine government action by a government or quasi-government official.)
- Prior to engaging a third party stakeholder, Union Bank will conduct relevant due diligence on the third party stakeholder in line with International best practice requirements. This process will be aimed at identifying relevant insider related interests and confirming that acceptable standards are applied by these third party stakeholders in their sphere of operation.
- No Union Bank director, employee, or third party stakeholder is allowed to give, accept a gift, or receive hospitality from a third party knowing or suspecting that it is offered or provided with an expectation that a business advantage will be provided to them by the Bank in return
- Stakeholders are to report any observed bribery and corruption related practices via the Bank’s Whistleblowing channels through the following channels; (i) Whistle blower hotline: 0800TIPOFFS (0800 847 6337) (ii)Email: [email protected]
- The bank’s website : https://tip-offs.deloitte.com.ng
Reporters of unethical practices will be protected against retaliation of any kind. No director, employee, or third party stakeholder will be allowed to threaten or retaliate against anyone who has raised concerns about, or who has refused to engage in bribery, corruption or other unethical practices.