Banking
Access Bank Targets 100 Million Customers by 2022
By Adedapo Adesanya
Top financial institution, Access Bank Plc, is seeking to increase its customer base to 100 million by 2022 from its present level, 41 million.
The Executive Director in charge of Retail Banking at Access Bank, Mr Victor Etuokwu, made this disclosure during the Diamond Xtra Season 12 Launch Event held in Lagos on Friday, March 13, 2020.
He said Access Bank has remained dedicated to expanding its services to Nigerians financially included by coming up with reward schemes like the Diamond Xtra initiative.
With over two million registered accounts on the Diamond Xtra savings plan, the bank is looking to expand more on the platform with good rewards this season.
According to Mr Etuokwu, for the past 11 years, over N5.7 billion has been awarded to over 22,000 customers, adding that in the 12th season, over N1 billion would be given out to loyal customers of the financial institution.
“This season, we are going to have 63 winners for rent for a year, from 21 last year and we have three people who are going to win N100,000 in Salary4Life.
“We have also introduced the health insurance scheme that will cover the customer, spouse and three children. We are also going to have the normal N1 million like we have done at this event.
“We also have a lot of loyalty schemes where loyal customers can win N20,000 and N50,000 cash prizes,” the bank executive said.
He also noted that as part of the bank’s commitment to gender equality, nine women will be awarded cash prizes of N300,000 each, while one of the selected winners will get a complementary N100,000 gift shopping voucher.
He added that as part of the senior citizens initiative, nine winners on the Diamond Xtra savings plan will be selected to win, noting that the goal of the bank to bring at least a member of every family on the Diamond Xtra Account.
Also speaking at the event, Mr Robert Giles, Head, Product Insights and Capabilities, noted that the bank will be crossing the N6 billion mark with this year’s promo.
“We’ve been doing this for 12 years and we have given out over N5.7 billion in prizes. We will be crossing the N6 billion this year as we will be giving out N1 billion. We have tripled money that people will get and use for their investments and businesses that will employ tens and hundreds of thousand of people,” he stated.
At the event, the Deputy Director/Coordinator for the Lagos Zonal Office of the National Lottery Regulatory Commission, Mrs Nkiru Onuzulu, who certified the draws, said her agency was pleased with the way the promo has been conducted without compromising standards.
Also, Mr Lawrence Amadi from KPMG, a consultancy firm, said the bank was transparent in getting winners from the exercise.
“We are required to ensure that all qualified members are account holders of the bank and they were chosen independently without the interference from Access Bank,” he said.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
