Banking
Diamond Bank Customers Get N25m, SUV
Some customers of Diamond Bank in the South eastern Nigeria were recently rewarded with a total sum of N25 million and a brand new SUV.
The bank said move was made to appreciate its customers.
This took place at the eight season of its annual Diamond Xtra Savings account draw held at the New Berry Park, Enugu State.
A total of 40 winners won cash prizes of 500,000 and N1million Naira whilst a lucky winner went home with the grand prize of a Sports Utility Vehicle (popularly called a Jeep in Nigeria).
Diamond Bank stated that the 40 customers that were made millionaires through its regional draw is a reflection of its commitment to growing the financial asset value of its loyal customers. This is coming on the heels of its Mid-year draw held in the Ikeja Military Cantonment, Lagos in which 30 customers also emerged as millionaires.
The Enugu Regional draw had in attendance many industry stakeholders, customers, potential customers, shareholders, journalists and top management of the Bank to make it a festive and lively occasion.
Speaking at the event, Mr Osita Ede, the Diamond Bank’s Head, Mass Market said the ceremony was unique because it was targeted at Diamond Banks customers located in the South Eastern Region. It was just for the branches in Enugu, Anambra, Imo, Abia and all the other States in that region.
He said the Diamond Xtra reward scheme was no longer a promo as it had become a part and parcel of Diamond Banks efforts at rewarding its loyal customers.
Mr Ede 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 Banks “Salary for life” no matter where his or her account was opened.
This meant that the lucky individual would be entitled to the sum of N100, 000.00 every month for Twenty years irrespective of the region. This happened every month for customers with a Diamond Xtra account across the country.
He further said every month a total of 15 customers were selected from those having a Diamond Xtra account, with 1 customer winning N2 million, 13 customers winning N1 million in addition to the lucky winner of the Salary for Life.
The winner of the Star Prize of the SUV, Mr Ugwuozor Tochukwu Emmanuel from the Port Harcourt Road Branch, Onitsha when contacted on phone, after initially conveying doubts about the authenticity of the call was eventually convinced that it was genuine.
He expressed his gratitude and could not contain his excitement as he burst into his native dialect to ask when he would receive his prize and if he could start coming immediately to pick it up.
Officials from KPMG and the National Lottery Regulatory Commission were also on hand to vouch for the authenticity and transparency of the promo.
Speaking at the event, Mr Eke Michael, representing the Lottery Commission, confirmed that Diamond Bank had fulfilled all its necessary obligations and satisfied the commission.
One of the past winners at the event, Mr Casper Ibe, a Catholic Clergy also confirmed that indeed, the promo was genuine as he was one of those who won the N1 million cash prize from the Owerri Branch in 2012.
DiamondXtra was launched in 2008 by Diamond Bank to reward its loyal customers. The Bank has paid out over N4 billion to over 4,500 of its customers and has allocated N600 million for winners this year.
Some of the other customers that won N1 million at the draws are; Eneh Peter, Perpetua Anyanwu, Cyracus Chukwudi Chidozie, Ulonnam Nkechinyere Joy and Onwuka Jemaima Uzoma.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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