Banking
Diamond Bank Elevates Two ETs to EDs, Promotes 950 Staffers
By Dipo Olowookere
In spite of the harsh economic terrain threatening jobs of many employees and hurting the projections of corporate organisations in Nigeria, Diamond Bank has reaffirmed its commitment to continuously safeguard the career growth of its workers.
Recently, two staff members who joined the bank over two decades ago as Executive Trainees were elevated to Executive Directors following regulatory approval by the Central Bank of Nigeria (CBN). This was alongside the Bank’s promotion of 950 members of its workforce.
Diamond Bank’s chief spokesperson, Ms Chioma Afe, said that the Bank places premium value on its workforce and is very passionate about the development of the career goals of staff members that are living the core values of the Bank, noting that job security and career development of staff members have continued to enable the bank deliver quality customer service and strengthen investor confidence in the business.
“Providing unequalled customer experience and delivering superior shareholder value is our core vision; however, meeting this mandate is difficult without the right staff.
“At Diamond, we believe that people are key to providing quality customer experience. That is why despite the hard economic conditions in the country, we are promoting our workers and placing much emphasis on career development of staff members,” she said.
According to the bank, Mrs Chizoma Okoli, Executive Director, Business Development and Mr Chiugo Ndubisi, Executive Director/Chief Financial Officer joined the Bank as Executive Trainees in 1992 and 1996 respectively; rose through the ranks to their current positions on the Board of the Bank.
Commenting on the appointment of Mrs Okoli and Mr Ndubisi to the Executive Management of the Bank, Ms Afe said, “These appointments further demonstrates our devotion to provide a viable platform for our staff to work and excel while grooming them to take on more challenges as they progress within the organisation. We are convinced that Mrs Okoli and Mr Ndubisi will play pivotal roles in the next phase of the Bank’s evolution especially at the Board level.
With these new appointments and promotions, the Bank has strengthened its workforce and fortified its management team, led by Mr Uzoma Dozie, to take on the challenges and opportunities in the business years ahead.
Mr Ndubisi graduated with a First Class Honours Degree in Engineering from University of Nigeria, Nsukka and holds a Master of Business Administration degree (MBA) from the University of Lagos, Akoka.
He was previously the Divisional Head, Financial Management and formerly the Bank’s Financial Controller. He is a Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN), and an Associate of the Chartered Institute of Taxation of Nigeria (CITN).
He has attended various international and local courses including the Advanced Management Program (AMP) of the Wharton Business School (University of Pennsylvania), Driving Strategic Impact Program of the Columbia Business School and the HSBC International Bankers’ course in London. He is also an alumnus of the Lagos Business School (Pan-African University) Senior Management Program (SMP).
He has actively participated in many projects in the Bank including the various capital raising exercises, as well as the successful integration of the records of the former Lion Bank of Nigeria Plc, which earned the Bank the prestigious ThisDay award for the Best Bank on Mergers and Acquisitions category. He was also involved in the successful implementation of the new banking software (Flexcube) in year 2000, as well as the successful implementation of the new Flexcube version in 2007.
Mrs Okoli is one of the pioneer staff of the Bank and has worked in various roles across the business. She was previously the Head, Corporate Banking Directorate. Prior to this, she served in various capacities as Head, Institutional Banking; Head, Specialized Industries; Regional Manager, Apapa; Divisional Head, National Corporate (Lagos 1) and was the Group Head, Commercial Banking, Adeola Hopewell Group. She is also on the board of Diamond Bank UK and Diamond Pensions Funds Custodian (DPFC).
She is a 1989 Law Graduate from the University of Benin and was called to the Nigerian Bar in December 1990.
She also has an MBA from the Warwick Business School, Coventry, UK. She has attended various courses in Nigeria and abroad, inclusive of the distinguished Advanced Management Program of the Wharton Executive Education, University of Pennsylvania. She is an Alumnus of the Lagos Business School.
“Chizoma’s appointment as an Executive Director is particularly auspicious following our successful corporate restructuring exercise last year. Not only does this appointment demonstrate to our large number of female staff that they can aspire for the top at Diamond Bank; we are convinced that Chizoma’s wealth of experience working across diverse roles in the organisation over the last 25 years will be a vital asset at the Board level,” concludes the statement.
Diamond Bank Plc is one of Nigeria’s fastest growing retail banks, leveraging innovation and technology to enhance customer experiences and drive financial inclusion in what it terms Beyond Banking.
Since incorporation in December 1990, Diamond Bank has challenged the market environment by introducing new products, innovative technology and setting new benchmarks through international standards.
Today, Diamond Bank is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts. Diamond Mobile app, for example, is Africa’s leading banking app and the first with the touch ID feature.
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.
