Banking
Diamond Bank Customer Wins Car in DiamondXtra Promo
By Dipo Olowookere
A customer of Diamond Bank Plc has emerged winner of a brand new car in the Season 9 of DiamondXtra Reward Scheme.
The winner, Mr Rapheal Ogugua, a businessman based in Markurdi, Benue State, was presented with the vehicle last Friday at a regional prize presentation ceremony held in Umuahia, Abia State.
Mr Ogugua, who received his Hyundai Accent car, told newsmen that he has been a long-time customer with Diamond bank.
“When I was initially contacted and informed that I had won a new car, I couldn’t believe it. It didn’t make sense to me. I thought it was a scam, until last Friday, when I saw the car at the official presentation ceremony here in Umuahia.
“I am very grateful to Diamond Bank for this reward,” an elated Mr Osugua told journalists shortly after the presentation.
Head, South Directorate, Regional Businesses, Diamond Bank Plc, Nkem Okoro, said that the DiamondXtra account is open to both existing and potential customers of the bank. He revealed that a deposit balance of N5,000 qualifies a customer to participate in the draws while a multiple of that amount increases the customer’s chances of winning.
Diamond Bank has set aside a whopping N433 million as the total prize money to be won in its Diamondxtra Season 10 reward scheme which kicked off in January, 2018.
The prizes for this year have been increased by 20 percent to give more customers the opportunity to win in the monthly and quarterly draws, said Osita Ede, Head, Mass Market Segment, Diamond Bank Plc.
“DiamondXtra Season 10 is a testament of how people’s lives have changed. Now it is possible for someone to win salary for life. It is bigger than ever before and the Bank has given out over N5 billion and this year we are giving out 20 per cent over what we have been giving,” he added.
He also revealed that winners are expected to emerge from all the geopolitical zones in the country.
Of all the winners that are expected to emerge from the draws and rewarded in the season, one customer will win the star prize of salary for life and 10 customers will be rewarded with N1 million every month in the monthly electronic draws.
“The DiamondXtra Season 10 monthly and quarterly draws are meant to reward our customers and give them the financial power to contribute meaningfully to the growth of Nigeria’s economy.
“The draws scheduled for this season reaffirms Diamond Bank’s commitment to financially empower more Nigerians by spreading the draws across the six geopolitical zones throughout the four business quarters of the year,” Osita concluded.
Other unique benefits that DiamondXtra customers enjoy, include earning competitive monthly interest on savings, lodgement of cheques and dividend warrants from other banks into the account for value, access to quality healthcare for just N6,000 annually, Internet and telephone transactions and several other banking transactions on the Bank’s ATMs and other electronic channels.
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.
By Modupe Gbadeyanka
The flagship banking subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Guaranty Trust Bank (GTBank) Limited, has been announced as the winner of Nigeria’s Best Digital Bank award at the Euromoney Awards for Excellence 2026.
The lender clinched this accolade at the Euromoney Awards for Excellence 2026 ceremony, held on July 17, 2026, at The Peninsula London, England, for its outstanding performance, innovation, customer service, and leadership.
GTBank’s recognition as Nigeria’s Best Digital Bank reflects its continued leadership in digital innovation and its commitment to delivering seamless, secure, and customer-centric financial solutions.
As the banking franchise of GTCO, GTBank has consistently set industry benchmarks in digital transformation, pioneering solutions that have redefined how individuals and businesses access, manage, and experience financial services.
Over the years, GTBank has transformed the banking experience through a suite of innovative digital platforms, including the GTWORLD mobile app and solutions that provide millions of customers with seamless, secure, and convenient access to financial services.
The bank continues to strengthen its digital capabilities by introducing products and services that meet evolving customer needs while maintaining the highest standards of security, reliability, and service excellence.
This latest recognition underscores the company’s position as a market leader and reflects its sustained investment in technology, operational excellence, and innovation.
“This recognition is a testament to the legacy upon which GTBank was built and the vision that continues to guide us today.
“From inception, our goal has been to deliver on the Group’s vision to make end-to-end financial services accessible to everyone by leveraging technology to remove barriers, simplify experiences, and create meaningful value for our customers,” the chief executive of GTBank, Mrs Miriam Olusanya, stated.
“While we are honoured by this recognition, we see it as an acknowledgement of what we have achieved and a motivation to do even more.
“We remain focused on raising the bar for digital banking, investing in innovative solutions, and delivering exceptional experiences that create lasting value for our customers.
“As the financial services landscape continues to evolve, we will continue to innovate, adapt, and lead with the same commitment to excellence that has defined our franchise for decades,” she added.
The Euromoney Awards for Excellence 2026 convened leading financial institutions, industry executives, and policymakers from across the globe to celebrate excellence, innovation, and leadership in the financial services sector.
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.
