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#NoNoiseJustSigns: Access Bank Unveils DiamondXtra Season 17, To Reward Customers With Over N200m.

 

L–R: Echezona Ezeuko, Regional Sales Manager, Festac Region, Access Bank PLC; Emmanuel Augustine, Winner, DiamondXtra Promo; Adaeze Ume, Unit Head, Consumer Banking, Access Bank PLC; Pastor Alex Onyeamachi Nwachukwu, Winner, DiamondXtra Promo; and Olukemi Olayinka, Regional Sales Director, Lagos 3 Directorate, Access Bank PLC — during the launch of DiamondXtra Season 17 in Alaba, Lagos.
  • Rewards 165 Customers In Onsite Draws

 

Access Bank has officially unveiled Season 17 of its flagship loyalty reward scheme, DiamondXtra, with a renewed promise to transform lives and deepen financial inclusion across Nigeria.

 

To mark the launch, the bank rewarded 165 lucky customers with cash prizes ranging from N5,000 to N100,000 in onsite draws held at the Lagos Trade Fair Complex in Lagos.

 

DiamondXtra is a hybrid account that merges the benefits of both savings and current accounts. It allows customers to earn interest on deposits while maintaining full transactional functionality.

However, what sets the account apart is its unique reward mechanism—customers automatically qualify for periodic draws that offer life-changing prizes.

 

One of the major highlights of the new season is the return of the ‘Salary for Life’ initiative, a beloved feature of past seasons. Under this offer, selected winners will receive N200,000 every month for 15 years, amounting to a total benefit of N36 million per winner.

 

Speaking at the launch event, Adaeze Umeh, Unit Head, Consumer Banking at Access Bank, said: “We are excited to bring back ‘Salary for Life’ in response to customer demand. Winners will receive N200,000 monthly for the next fifteen years. In addition, this year we are introducing digital cluster draws through the Access More app. Customers can generate a referral code and share it with family and friends. Once a group of 50 qualifies, they’ll stand a chance to win N100,000 as a group.”

Umeh also revealed that of the 150 digital clusters planned for the season, 30 will be dedicated exclusively to women—a deliberate move to support the bank’s growing ‘W’ community, which focuses on empowering women through access to finance and opportunities.

Customer feedback played a pivotal role in shaping this year’s prize offerings.

According to Umeh, Access Bank routinely polls customers to determine the rewards they prefer.

“The last time they asked for ‘Salary for Life’ was in 2019. Last year, they opted for cars, and we gave out cars. This year, about 40 percent of customers voted for ‘Salary for Life’, and we listened.”

She further explained that three winners will be selected for the salary reward each quarter.

“So far, 131 customers have won ‘Salary for Life’ in previous seasons. These new winners will be joining that exclusive community. We are significantly expanding the scope of rewards this season—from 4,000 winners in Season 16 to a target of 12,000 winners this year with a total sum of N228.7m. That’s three times the number, and it reflects our commitment to mass-market inclusion and social impact.”

The bank has reported that DiamondXtra now boasts over five million account holders, and the bank aims to onboard at least one million more by the end of 2025.

“Our target is not just numbers,” Umeh said. “We want every new and existing customer to experience excellent service, whether in person or digitally. With DiamondXtra, they enjoy interest, convenient banking, and life-changing rewards.”

 

Also speaking at the event was Olukemi Olayinka, Regional Sales Director at Access Bank, who emphasized the far-reaching impact of the initiative.

“We are thrilled that 165 customers walked away with rewards today, including five individuals who won N100,000 each. Over 33,000 families have benefitted from DiamondXtra since inception. This is about making a difference.”

“Beyond individual rewards, DiamondXtra is also helping entrepreneurs. The scheme now extends support to small and medium-scale enterprises (SMEs) through business training, mentoring, and collateral-free loans.

“It’s more than just savings,” Olayinka noted. “We provide up to ₦10 million in loans based on turnover, without requiring collateral. We guide customers through business challenges, offering the kind of support that ensures sustainability.”

She added that the bank’s continuous reward programme also plays a role in driving financial inclusion.

“Many people are joining the formal banking system for the first time because of DiamondXtra. We’ve acquired thousands of new accounts through this initiative, while also keeping our existing customers actively engaged. To join the winning train and stand a chance to win our mouth-watering cash prizes this season, simply dial *901*5# or walk into any of our branches nationwide to open a DiamondXtra account with a minimum of N5,000. Remember, the more you save, the more chances of you winning in the monthly, quarterly or cluster draws”. Olayinka concluded.

 

DiamondXtra continues to be rolled out across key regions in Nigeria, including Lagos, Abuja, the South-West, and North-Central, making it one of the country’s most far-reaching financial reward programmes.

 

As Access Bank continues to innovate around financial products with social impact, DiamondXtra stands out as a blueprint for combining banking with purpose, reinforcing the institution’s overarching goal of improving lives and communities across Africa.

Fidelity Bank Reclaims Trillion-Naira Market Cap As Stock Rises To ₦21

 

Leading financial institution, Fidelity Bank Plc, has reentered the trillion-naira market capitalisation club, after its share price rose by 5.3%, climbing from ₦19.95 to ₦21.00 on May 13, 2025, according to data from the Nigerian Exchange Limited (NGX). This latest development also brings the total number of Nigerian companies with a trillion-naira market capitalisation to 19.

 

According to a report published on Techcabal website, the bank had previously dropped below the threshold on May 12, marking another fluctuation in its valuation. Earlier in the year, Fidelity Bank Plc first reached the trillion-naira milestone on April 4, 2025, joining tier-1 banks such as Zenith Bank, Guaranty Trust Holding Company (GTCO), Access Holdings, First HoldCo, and United Bank for Africa (UBA). However, it fell below the mark on April 7 before reclaiming its position on April 23.

 

With 50.2 billion outstanding shares, the valuation reflects renewed investor confidence and signals Fidelity’s potential transition to tier-1 status. Analysts believe the bank is well-positioned to meet the Central Bank’s ₦500 billion ($311.9 million) minimum capital requirement through equity.

 

“The strong Q1 results suggest continued upward momentum in its stock,” said Nabila Mohammed, an analyst at Chapel Hill Denham. “This could boost investor confidence and help sustain its valuation.”

 

The stock has surged 141% in the past year, up from ₦8.70 in May 2024. Meksley Nwagboh, Head of Brand and Communications, attributed the rally to a 189% rise in 2024 after-tax profit—the highest among Nigeria’s top 10 banks.

 

That momentum carried into 2025, with Q1 after-tax profit soaring 190% to ₦91 billion ($56.8 million), driven by higher interest income, forex gains, and cost efficiencies.

 

“Lower credit losses helped boost net interest income,” said Olamide, a Lagos-based banking analyst. “Combined with solid full-year results and dividend expectations, the bank’s fundamentals are attracting investors.”

 

A report from Proshare noted the NGX Banking Index gained 6.96% in Q1 2025, driven by recapitalisation efforts that injected ₦2.4 trillion into the sector. Fidelity was the NGX’s third most-traded stock between February and May.

 

According to Mohammed, Fidelity’s high net interest margin and low-cost deposit base enhance its appeal. On February 8, it completed the first phase of its capital raise with 237% oversubscription. CEO Nneka Onyeali-Ikpe confirmed plans to conclude the next phase before H2 2025.

 

The bank’s Vision 2025 agenda includes expanding internationally—starting with its 2023 acquisition of Union Bank UK—and securing tier-1 status.

 

Afrinvest projects continued growth, with gross earnings and pre-tax profit forecasted to rise 46% and 49.4% respectively in 2025, reaching ₦1.5 trillion and ₦415.4 billion. The firm maintains a 12-month target price of ₦21.60 for the stock.

 

With robust earnings, a solid recapitalisation strategy, and growing investor interest, Fidelity is positioning itself as a strong contender in Nigeria’s top banking tier.

NAICOM Hosts 4th Meeting Of Joint Committee On Insurance For Public Buildings

 

 

The National Insurance Commission (NAICOM) convened the 4th Meeting of the Joint Committee on Insurance for Public Buildings and Buildings Under Construction on Wednesday, May 14, 2024, at Bon Hotel Garki II, Abuja. The meeting, chaired by the Deputy Commissioner for Insurance, Finance and Administration, Mr. Ekerete Ola Gam-Ikon, brought together stakeholders to discuss progress and challenges in implementing insurance regulations for public buildings and buildings under construction.

 

In his opening remarks, Mr. Gam-Ikon welcomed new members from the quantity surveying profession and briefed the committee on NAICOM’s enforcement efforts, which have commenced with third-party motor insurance and are expanding to public buildings and buildings under construction. He emphasized the importance of collaboration with regulatory agencies and highlighted the commission’s focus on claim settlement, citing the example of a fire incident at a Cash and Carry supermarket where insured parties received prompt claim payments.

 

The committee discussed implementation progress, with the representative from Development Control indicating that they have started enforcing insurance requirements since January 2025 but are awaiting necessary documents to commence full enforcement. Other stakeholders, including the Nigerian Insurers Association (NIA) and the Federal Fire Service, shared their perspectives on the importance of complete documentation, risk assessment, and insurance coverage.

 

The Chairman of the joint committee, Mr. Gam-Ikon, urged Development Control to establish a database of public buildings and buildings under construction and ensure that only buildings with approved documents are insured. Dr. Talmiz Usman, Director of Legal Enforcement and Market Development at NAICOM, thanked committee members for their support and participation.

 

The meeting underscored the importance of collaboration and effective implementation of insurance regulations to promote safety and risk management in the construction industry.

Photo News:

The Deputy Commissioner for Insurance, Finance and Administration, Mr. Ekerete Ola Gam-Ikon (middle), and the President of the Nigerian Institute of Quantity Surveyors (NIQS), QS Nzekwe Kene Christopher Lawrence, during a courtesy visit to NIQS Headquarters in Abuja, aimed at strengthening collaboration on compulsory insurance implementation.