Banking
Diamond Bank to Splash Over N500m on Customers in Savings Xtra Season 9
By Dipo Olowookere
Following success of its Savings Xtra season 8, Diamond Bank Plc on Thursday in Lagos launched the season 9 of the promo.
During the season 8, several customers, numbering over 1,000, were rewarded with cash prizes ranging from N500,000 to N1 million and a star prizes of Hyundai SUVs.
The colourful event, which attracted some of the bank customers, shareholders, journalists and management staff of the bank, saw in attendance past winners of its regional draws and the latest set of winners from the Lagos draw who were presented with their cheques and also shared testimonials of how Diamond Bank has improved their lives through the Savings Xtra promo.
The winner of the grand prize of a brand new SUV in the Lagos draw, Mr Kingsley Ezeji, was also in attendance to be presented with the keys to his star prize of a brand new SUV.
Speaking at the event, the bank’s Head of Mass Market, Mr Osita Ede, noted that Diamond Bank expected that a total of 1,055 customers will be rewarded with a total of N584 million.
He said, “Every month, 13 customers will win N1 million each, one customer will win N2 million and the luckiest customer will win Salary4Life.
“In addition to the monthly and regional draws, season 9 will have draws for Diamond Woman where 10 female customers will be rewarded and also hold two special draws to celebrate key milestones during the year where 30 customers will win 1m each.”
He said the Diamond Xtra reward scheme was no longer a promo as it had become a part and parcel of Diamond Bank’s efforts at rewarding its loyal customers.
He said it was important to note that the campaign continues because, every month a lucky Diamond Bank customer could emerge as the recipient of Diamond Bank’s “Salary for life” no matter where his or her account was opened.
Officials from KPMG and the National Lottery Regulatory Commission were also on hand to vouch for the authenticity and transparency of the promo.
Also speaking at the event, Mr Kenneth Ukanwa, representing KPMG, the audit firm in charge of the validation process for the promo said the processes put in place for picking eventual winners and even those qualified for the promo was transparent and above board.
He said KPMG was satisfied with the outcome of the past draws as they also ran checks and mock runs to ensure the verification process was authentic.
The first draw of the DiamondXtra Season 9 will take place on January 3, 2017 and to qualify for the monthly draw, all a customer needs to do is to maintain a minimum monthly balance of N5,000 in their DiamondXtra account while additional deposits would count as multiple entries thereby increasing the customer’s chances of winning.
Explaining the concept behind the account and the draws, Aisha Ahmad, Head Consumer Banking, Diamond Bank pointed out that the principal goal of the savings extra account is to promote a savings culture amongst the people.
She further stated that the draws were to reward customers who had religiously operated their Savings Xtra account and stayed true to the concept behind which the product was created.
She concluded by stating that Diamond Bank Plc would not relent in its efforts to create mutually beneficial relationships between the bank and customers through its products, services and offerings.
Banking
Proxy Share Acquisition: Nothing to Worry About—LivingTrust Mortgage Bank Assures Shareholders
By Aduragbemi Omiyale
The board of LivingTrust Mortgage Bank Plc has assured the investing public, particularly its shareholders, that its operations are not being affected by reports of an alleged proxy share acquisition surrounding the organisation.
It was claimed that an investor attempted to take over the control of the real estate lender with funds alleged to have been from questionable sources.
In a clarification to the investing public through the Nigerian Exchange (NGX) Limited on Tuesday, April 7, 2026, the company said it cannot confirm if security operatives investigating the claims have submitted their report to the Central Bank of Nigeria (CBN).
However, it assured that, “Our bank is stable and that in the event of any change in ownership, we will file the necessary formal notifications and publish detailed announcements.”
In the notice today, LivingTrust Mortgage Bank narrated that, “As a company listed on the Growth Board of NGX, there are regular movements on the bank’s shareholder register.
“The bank’s monitoring of material movements showed an acquisition of 2.24 per cent of its shareholding by Apel Asset Ltd-Nominee, as per its register of June 25, 2025, as obtained from our registrar. However, one month later, in July 2025, the register obtained from the bank’s registrar showed the same shares to be listed in favour of Deril Academy Limited. We are further aware that in July 2025, Deril Academy Limited teamed up with some other shareholders in a takeover attempt via a matter filed in the Federal High Court, Lagos. The attempt failed, and the matter has now been withdrawn.
“Please note that we do not reveal the veil of corporations of juridical entities investing in the shares of the bank, below the level considered statutorily significant.
“While the CBN assesses the source of funds invested in financial institutions, persons purchasing shares of less than 5 per cent of total shareholdings in the open market are not required to be reported to the CBN.”
Business Post reports that the majority shareholders of LivingTrust Mortgage Bank, formerly Omoluabi Mortgage Bank, are Cititrust Holdings Plc and the Osun State Government.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) registry surged to 68.6 million in the first three months of 2026 from 67.8 million in the last quarter of 2025, reflecting continued uptake of the unique identity platform for bank customers amid new regulatory directives to strengthen the Nigerian financial landscape further.
Data released by the Nigeria Inter-Bank Settlement System (NIBSS) showed that the database expanded by 754,128 in the first quarter of the year.
Last year, the sector recorded 4.3 million new registrations, largely driven by the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to register remotely, thereby boosting cross-border financial inclusion.
The data for fresh enrolments in 2026 showed a slowing rate of registrations, with fewer than one million recorded in the first three months. The total number of active bank accounts in Nigeria stood at over 320 million as of March 2025, highlighting a gap between BVN coverage and the broader banking population. While a single BVN can be linked to multiple accounts, unlinked accounts remain a challenge for financial oversight.
Last month, the Central Bank of Nigeria (CBN) introduced a revised BVN regulatory framework to strengthen identity verification and fraud prevention. Among the new provisions, only individuals aged 18 and above are eligible for BVN enrolment, and customers are now permitted to update the phone number linked to their BVN only once.
The apex bank also directed financial institutions to maintain a temporary watch list of BVNs associated with suspected fraudulent transactions. Affected BVNs remain on the list for up to 24 hours, during which owners are contacted for clarification before further action is taken.
According to the CBN, the measures are designed to tighten fraud monitoring, protect transaction integrity, and enhance identity management across Nigeria’s banking system.
By Modupe Gbadeyanka
One tune that is on the lips of young and energetic Nigerians is the new ALAT: The Evolution jingle.
The melodious clink was designed to capture the energy of a smarter and more seamless banking experience. It is bright, catchy, and full of life.
The lender said the ALAT: The Evolution jingle is more than just music, as it represents a clear statement of intent. It signals a shift towards banking that feels natural, responsive, and in tune with the user.
As customers update their app and explore ALAT: The Evolution, the jingle serves as a reminder that a better, smoother way to bank is already here. Wema Bank is not just evolving its technology; it is shaping how banking feels.
It was stated that the tune was introduced to mark the next phase of the financial institution’s digital banking journey.
Everyday banking can often feel routine or even stressful, with multiple steps and delays slowing things down. The ALAT: The Evolution jingle reimagines that experience with a lively and confident tone that mirrors the app’s capabilities.
From voice banking with SAW to Tap and Pay and bank uptime prediction, each feature is echoed in the rhythm and flow of the sound. It brings to life the speed, convenience, and reliability that define this new phase of ALAT: The Evolution.
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