Banking
Diamond Bank to Reward Customers with N600m
By Dipo Olowookere
A whopping N600 million has been set aside by Diamond Bank Plc to reward its loyal customers in the DiamondXtra Season 9 bonanza.
Activities planned for the season include extra ordinary draws that will produce 3164 lucky winners throughout Q3 2017.
According to information made available to the press, the Bank stated that in the months of July, August and September, N137 million will be given out to lucky customers that will emerge from the draws: 8 millionaires in July and September while 24 millionaires will emerge in August as N1 million will be won by a lucky customer every working day plus loads of other cash prizes.
During this period, 3 lucky customers will be rewarded with salary for life and will receive N100,000.00 every month for the next 20 years.
According to Chioma Afe, Head, Corporate Communications Division, Diamond Bank’s passion and commitment to its customers “is driven by the conviction that making them to save and plan for the future is what sustains the growth and development of any economy”.
She stated that DiamondXtra draws have come a long way in impacting the lives of new and existing customers of the Bank that had participated in the promo over the years.
She added that the draw is a unique customer reward scheme tied to the DiamondXtra account, which aims at promoting savings culture among Nigerians by rewarding them for saving.
She said: “In this Season 9, Diamond Bank is set to create more millionaires in Nigeria by empowering them with the resources to change their lives and, also, be active participators in the economy. Twelve customers would be rewarded with salary for life and will earn N100,000.00 for the next twenty years. That is how much we value our customers and help them shape their future”.
According to her, with a deposit balance of only N5,000 (five thousand naira) a customer is qualified to participate in the draw and multiples of that amount increases the customers chances of winning.
The DiamodnXtra initiative was launched in July 2008 and has produced 5,600 winners with a cumulative cash reward of over N4 billion.
The Season 9 edition promises to be more rewarding as the Bank has reaffirmed its commitment to financially empower more Nigerians by spreading the draws across the six geopolitical zones.
According to Afe, beginning from July 13, 2017 to September 30, 2017, every new and existing customer of the Bank who saves a minimum of N5,000 (five thousand naira) will stand the chance to win any of the prizes, which include salary for life, N1m for 31 customers, N500k for 20 customers, N10k for 600 customers, N500 for 400 customers and free recharge cards for 2000 customers.
The Bank has also introduced a new dimension to the reward scheme where customers are rewarded for loyalty. Customers who have maintained their DiamondXtra accounts for 5 years and above and have increased their balances with multiples of N5000 during this period will qualify for a special Longevity draw where 10 customers will receive N1m each while 100 customers will get N100k each.
According to Afe, a customer stands a better chance of winning if he or she saves more as every N5,000.00 in the account of a customer represents one entry ticket into the draws.
“Every DiamondXtra account customer has equal opportunity of winning in the daily transparent electronic draws. We would like to reassure all our loyal customers that Diamond Bank will constantly seek robust platforms like this not just to enrich them but to let them know that we care for their future wellbeing”, she said.
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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