Lagos — Union Bank of Nigeria Plc. has doled out over N16million and attractive prizes, including nine brand new Toyota Corolla cars and 60 motor-cycles, to redeem its promises to lucky savers under its ongoing savings bonanza.

The savings bonanza, which began in April this year and is slated to end in January 2010, has witnessed four draws in different towns across the country to select lucky winners of the various attractive prizes.

The Group Managing Director/Chief Executive, Mrs Funke Osibodu, in her address at the draws, encouraged the bank's customers and prospective ones to sustain their patronage of the savings bonanza, advising them to increase their savings so as to stand the chance of winning some of the attractive prizes declared.

She stressed that the savings bonanza was not only to mobilise deposits from widely dispersed savers across the country, but also to encourage the savings habit among the populace, especially the small-scale ones. "Such funds are to be used to support productive real sector investments, thereby facilitating rapid economic growth in the country," she added.

She also used the opportunity of the draws to reassure that Union Bank was being repositioned to provide excellent services to its highly esteemed customers, thereby guaranteeing better value for shareholders.