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 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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