Banking
Access Bank Customers Win in DiamondXtra Draw
By Dipo Olowookere
Over 1,000 customers of Access Bank across Nigeria emerged winners in the second quarterly draw of the DiamondXtra Season 12 reward scheme held in Lagos recently.
One of them was a 59-year-old trader at the Ogbaru market in Onitsha, Anambra State, Mr Dominic Akaraka, who won the Salary-4-Life prize.
Speaking after receiving his cheque at his branch in Onitsha, Mr Akaraka expressed his excitement and told newsmen that he has been a customer of Access Bank for more than 10 years, adding that Nigerians should partake in the initiative as it is real.
“I have been banking with Access Bank for more than 10 years now. The first time I got a call from the Bank that I won the star prize, I warned the person not to call me again and I hung up the phone thinking it was a fraudster but when they called again, I decided to give them a listening ear only to discover when I visited my branch that I have won the star prize of Salary-4-Life, which means I would be paid N100,000 every month for 20 years.
“I am too excited and short of words. I am 59 years old with a wife and six children. Before I got this call from Access Bank, I and my family have been going through financial challenges and business has been very slow and unprofitable due to the lockdown and restriction of business activities within the state.”
“All my fellow traders are aware already and are opening the DiamondXtra account. I will encourage my friends and family members to bank with Access Bank so that they can partake in this initiative because it has salvaged my financial situation. I feel like am still dreaming. Thank you Access Bank,” he said further.
Also speaking at the prize presentation ceremony, Head, Retail Product insight and Capabilities, Access Bank Plc, Rob Giles, noted that the bank has kept its promise of keeping the initiative going and growing.
Mr Giles revealed that over N5.4 billion in prize money has been doled out while adding that the bank recently launched a variant of DiamondXtra tagged Xtrawins where customers are rewarded with daily, weekly and monthly cash rewards.
“We are trying to make the prizes more accessible so that more Nigerians can win every year, and the introduction of the XtraWins daily draws allows us to reward more customers frequently. The special thing about DiamondXtra Season 12 is the difference we are making in the lives of our customers.
“Today, we have 5 winners who have emerged winners in the following categories: Salary-4-Life, Rent Allowance for a year, N1 million Business Grant as well as, the latest reward category, Family Health Insurance cover for a year which we introduced to assist families to secure access to quality health as a way of providing more relevant support to our customers in the current pandemic situation.
“Other prize categories won include, N500,000, N100,000 and much more. This savings scheme has been a success since its launch in 2008 and we intend to keep on impacting our customers positively,” he said.
Corroborating his words, Head, Consumer Banking, Access Bank Plc, Ms Adaeze Ume, explained that the motivation behind the XtraWins initiative was born out of the need to transform the lives of customers during these COVID-19 times.
“In our own little way of showing appreciation to our customers for their patronage and loyalty, the bank launched the XtraWins rewards – a campaign that rewards customers with daily, weekly and monthly cash prizes ranging from N500 – N1 million when they maintain a minimum of N1,000 in their accounts and conduct at least 3 transactions daily using our USSD service *901# or any of our mobile apps to purchase airtime, pay bills, transfer funds, etc.
“The beauty about the Xtrawins campaign is that winners emerge every day and we have rewarded over 8,000 customers in 9 weeks,” Ms Adaeze concluded.
DiamondXtra is an interest yielding hybrid account which allows the deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features.
The reward scheme has given away over N5 billion in cash and household items to over 15,000 loyal customers over the last 10 years.
By Modupe Gbadeyanka
About N2 billion is expected to be used to finance renewable energy products for customers by the end of 2026 in an effort to accelerate Nigeria’s clean energy transition.
To meet this goal, Sterling Bank is launching Sterling Solar Financing Hubs inside StarTimes retail outlets to embed on-the-spot solar financing at the point of purchase.
From the N2 billion earmarked for this initiative, N600 million has already been used up.
Under this programme, customers can now walk into participating outlets, select their preferred solar solution, receive financial guidance from dedicated Sterling Solar Financing Advisors, and begin the financing process immediately, subject to the bank’s credit assessment.
The first phase of the rollout commenced this July with five Solar Financing Hubs across Lagos, located in Lekki, Ikeja, Festac, Surulere, and Victoria Island.
The network will expand rapidly to 46 StarTimes outlets nationwide before the end of the third quarter of 2026, with a view to extending the model to more than 200 StarTimes locations nationwide.
Both parties have promised to continue working together to democratise access to clean energy financing, empowering more Nigerians to solarise their homes and businesses while contributing to a greener future.
“Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future,” the Divisional Head of Renewable Energy and Mobility at Sterling Bank, Mr Darlington Nwankwo, said.
Also commenting, the Vice President of StarTimes Nigeria, Mr Eric Xiao, said, “With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy.
“Moving forward, we will continue to deepen this partnership, ensuring that more Nigerians can enjoy reliable, affordable, and smart energy solutions, ultimately turning our vision of energy accessibility into a reality for all.”
By Modupe Gbadeyanka
The Nigeria Business Summit Regional Tour of Stanbic IBTC Bank made a detour to Jogor Centre, Ibadan, Oyo State, on Wednesday, July 15, 2026, to empower Micro, Small, and Medium Enterprises (MSMEs).
The event brought together business leaders, development partners and government representatives to discuss pathways for sustainable enterprise development across the South-West.
Participants engaged in practical masterclasses on export opportunities; access to finance and business growth strategies; gaining actionable insights into market expansion; trade documentation; credit readiness; financial record-keeping; and structured financing solutions designed to support long-term business success.
The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, informed participants that the programme is part of the lender’s commitments to supporting MSMEs through practical business education, strategic partnerships and improved access to growth opportunities.
The Executive Director of Business and Commercial Banking at Stanbic IBTC Bank, Mr Remy Osuagwu, on his part, said, “Our ambition is to be more than a financial institution to Nigerian businesses. We want to be a trusted growth partner, providing the financing, business insights and advisory support entrepreneurs need to build sustainable enterprises and unlock new opportunities.”
Similarly, the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who reinforced the company’s commitment to enterprise development, highlighted the importance of providing businesses with the right support structures to enable sustainable growth and long-term competitiveness.
“At Stanbic IBTC, we believe that sustainable economic growth depends on the success of small and growing businesses. That is why we are focused on providing access to finance, practical advisory support and the connections businesses need to move from ambition to scale,” he stated.
The Oyo State Commissioner for Investment, Trade, Cooperatives, and Industry, Professor Soliu Adelabu, said the initiative was designed to support businesses and strengthen the state’s entrepreneurship ecosystem, praising the bank for its support for traders, entrepreneurs, and artisans in the state.
The Permanent Secretary in the Oyo State Ministry of Women Affairs and Social Inclusion, Mrs O.M. Shotonwa-Roagess, highlighted the importance of strategic partnerships in expanding economic opportunities for women and vulnerable groups across Oyo State. She noted that the ministry remains open to collaborating with organisations such as Stanbic IBTC, development partners and the private sector to drive financial inclusion, entrepreneurship and sustainable economic empowerment.
The Nigeria Business Summit Regional Tour forms part of Stanbic IBTC’s broader commitment to empowering entrepreneurs through capacity building, financial inclusion and strategic business support, helping enterprises unlock new opportunities for growth and long-term success.
The Ibadan leg built on the momentum of previous tour stops in Katsina and Aba.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
