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Connect Nigeria’s business fair, themed ‘e-Business and the Growth of Your Enterprise’ which held on Saturday, February 21st 2015 was a turning point for many SMEs and aspiring entrepreneurs. It was an especially happy day for the two SMEs who walked away with N50, 000 and N100, 000 respectively, having emerged winners during the raffle draw at the business fair, courtesy of Union Bank. Mr. Ayodeji Mebude, Head of Channels at Union Bank, said that the bank sees support for SMEs growth as critical in the life of a nation. According to him, this was what inspired the Union Bank to launch a number of initiatives targeted at the group as part of its transformation programmes. He revealed that Union Bank launched an enterprise hybrid account that gives growing businesses the flexibility of a current account with the benefits of a savings account. The account is suitable for businesses such as co-operative societies, trade associations, professional bodies, social clubs and non-governmental organizations. Some of the features of the UnionEnterprise Hybrid Account include: access to Union Bank’s array of value adding, e-banking products and services; a minimum daily opening and closing balance of N5, 000 only; lodgement of cheques/dividend warrants; as well as provisions for third party over-the-counter transactions across the Union Bank branch network. Additionally, UnionEnterprise Hybrid Account holders will enjoy accrued interest on their account balance at the prevailing savings account rate, with zero commission on turn over. The two winners opened their Union Bank accounts at the fair, qualifying them for the raffle draw which won them the cash prizes. Other fantastic prizes were also won at the raffle draw, including smartphones and an iPad.

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This article was first published on 24th February 2015

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Joy Ehonwa is an editor and a writer who is passionate about relationships and personal development. She runs Pinpoint Creatives, a proofreading, editing, transcription and ghostwriting service. Email: pinpointcreatives [at] yahoo.com