Unity Bank gets double honours for credit disbursement

It was a moment of commendations for Unity Bank Plc at the third anniversary of the Federal Government’s Anchor Borrowers’  Programme (ABP) as the lender was singled out for award by the Rice Farmers Association of Nigeria (RIFAN) even as President Mohammadu Buhari poured out commendations on management of the bank for supporting the initiative.

The award was in recognition of the bank’s unrestrained disbursement of CBN Anchor Borrowers’ Funds to eligible members of RIFAN.

Receiving the award during a gala night organised by beneficiaries of the government’s Anchor Borrowers Programme, the Managing Director/ Chief Executive Officer, Unity Bank, Mrs Tomi Somefun,  commended the Federal Government, the Central Bank of Nigeria (CBN) and the entire members of RIFAN for the recognition and promised that the bank will continue to contribute towards continual success of the ABP initiative.

Only recently, Unity Bank Plc won the CBN 2018 sustainable banking award, having emerged tops in the category of sustainable transaction of the year in agriculture.

The lender won the coveted award for its compliance with the Sustainable Banking Principles as it relates to the management of Environmental and Social Risk set out by the CBN for adoption by Nigerian banks, discount houses and development banks.

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At the just concluded Bankers’ retreat held in Lagos, the CBN while presenting the award to the bank, commended its efforts in promoting the Anchor Borrowers Programme (ABP), stressing that the lender deserves this award because of the role it played in actualisation and management of this audacious project.

The social and economic impact of the project on the household income of over 270,000 participating small holder farmers, as well the contribution to gross domestic product of the country cannot be under estimated.

Commenting on the award, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs Oluwatomi Somefun  observed that the lender has  successfully on-boarded over 90,000 hitherto financially excluded farmers and generated bank verification number for them to facilitate financial and banking transaction.

Capacities of about 60 agro input suppliers were expanded through provision of facilities and financial advisory services.

“Safeguards shall exist to protect rare and endangered species, preservation of conservation zones and protection of grazing and forest reserves.”

The bank’s Environmental Management Programme covers comprehensive business operations and endeavours to achieve minimum adverse impact on the environment in the scope of its business activities.