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 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.
