E-Financial
Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs

The sixteenth season of DiamondXtra, a savings and reward account where customers of Access Bank are rewarded with several prizes, have been unveiled in Lagos.

L – R : Doris Okpara, Product Manager, DiamondXtra; Ngozi Igboanugo, Regional sales Manager Festac 1&2 & mainland Access Bank; Bolarinwa Animashaun, Regional Sales Director Lagos 2 Access Bank ; Emeka Ezikeugo, Diamondxtra N200,000 Onsite winner; and Adaeze Ume, Head Consumer liabilities, Access Bank during the launch of Diamondxtra Season 16 held at Alaba International Market Lagos yesterday.
The Season 16th of the special interest yielding hybrid account which allows deposit of both cash and third-party cheques has been upgraded as customers will win prizes to the value of N200 million and three SUVs, amongs other mouthwatering prizes.
Speaking at the unveiling in Alaba International Market, Lagos, Mr Bolarinwa Animashaun, regional sales director, Lagos, said the new season will bring more goodies to the customers as the bank has taken their interest at heart.
“In the last fifteen years, we have been able to ensure customer loyalty, reward committed customers over time and show that we are a bank that is ready to empower people and partner with people.
“If I take it into specific figures, we have rewarded 26,696 customers and we’ve given a total sum of N6.5 billion over the period.
This Season16is interesting, because, we have seen a lot of opportunities to expand into digital opportunities and this time around, we will be rewarding 15,786 customers, and 10,000 of them will be digitally rewarded.
“This is almost half of what we have done over the last 15 years. So that is what is making it special. We have takenit into the possibilities of how technology can expand our business and reward customers”.
The draws for the new season are going to be the same like the previous ones as it will be held in different regions.
“So, we start from the monthly draws, quarterly draws and the annual draws. What makes it extremely interesting this year is that we will be rewarding with up to N200 million in prizes and we have added some very interesting gifts. We will be given out three SUVs as part of the N200 million price for this year”, Animashaun added.
At the unveiling, Access Bank conducted onsite draws where 48 customers who have DiamondXtra accounts and were present at the unveiling won cash prizes ranging from N20,000 to N200,000.
Breakdown shows 40 customers won N20,000 each, five customers won N50,000, two customers won N100,000, while one customer went home with N200,000.
Among winners of the N20,000 prize was Mr Victor Edobor, who said he opened the DiamondXtra accounts 24-hours before the draws.
One of the two winners of the N100,000 prize, Mrs. Maureen Nneka Oforka, said she was surprised to have won at the well-attended event as that was her first time winning any prize.
She said, “I have never won any prize in my life. This is my first. I came here reluctantly and thank God, I am here and I am a winner of N100,000 which has already been paid into my account.
The grand prize winner of N200,000, Mr. Emeka Ezikeugo, a trader in Alaba, said. “I will forever be grateful to Access Bank for the prize as I was not expecting it. I thank the bank for showing leadership among its peers”.
To be part of the winning train and qualify for the DiamondXtra season 16 which is open to both new and existing customers, new customers are required to open a DiamondXtra savings account with just N5,000 by dialling *901*5# or walking into one of our branches to open the account.
However, the more multiples of N5,000 both new and old customers save, the higher their chances of winning at the monthly, quarterly and annual draws.
DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features. The DiamondXtra reward scheme has given away over N6.5 billion in cash and household items to over 15,000 loyal customers over the last 15years. Please click HERE to learn more.
E-Financial
UBA Announces Successful Completion of System Upgrade

United Bank for Africa (UBA) has successfully completed its much-anticipated system upgrade, restoring all banking services to normalcy.
In a message to customers, UBA reassured customers that they could now log in to the mobile app and enjoy a smoother, more efficient banking experience.
The bank acknowledged any inconvenience caused by the process and reaffirmed its commitment to providing top-tier financial services.
“We are pleased to inform you that our mobile app upgrade has been completed, and all services have been fully restored. You can now log in and enjoy a smoother banking experience and improved services,” UBA announced.
While the upgrade promises enhanced functionality and reliability, UBA urged customers experiencing any lingering issues to reach out to its 24-hour Customer Fulfilment Centre via 02012808822 or email [email protected] for prompt assistance.
With the completion of the process, UBA reassured its customers of its dedication to innovation and excellence in banking.
E-Financial
SERAP Gives CBN 48-Hour Ultimatum to Withdraw ATM Fee Hike

Socio-Economic Rights and Accountability Project (SERAP) has called on the Central Bank of Nigeria (CBN) to immediately revoke its recent increase in Automated Teller Machine (ATM) transaction fees, describing the move as “Patently unlawful, unfair, unreasonable, and unjust.”
In an open letter addressed to Olayemi Cardoso, governor, CBN, and dated February 15, 2025, SERAP warned that the fee hike would worsen economic hardship for millions of Nigerians, particularly those at the lower end of the financial spectrum.
The rights group gave the apex bank a 48-hour deadline to reverse the policy or face legal action.
The CBN’s new directive mandated that ATM withdrawals at off-site locations, such as shopping malls, airports, and standalone cash points, will attract an N100 charge per N20,000 withdrawal.
Additionally, a surcharge of up to N500 may apply for transactions conducted at certain locations. The new fees are set to take effect from March 1, 2025.
In its letter, signed by Kolawole Oluwadare, deputy director, SRERAP criticized the policy, arguing that it would disproportionately affect struggling Nigerians while benefiting commercial banks.
“The manifestly unfair increase in ATM transaction fees will hit hardest those at the bottom of the economy and exacerbate the growing poverty in the country,” SERAP stated.
The organization further argued that financial institutions should bear the cost of banking operations, rather than shifting the burden onto customers, particularly those with limited financial means.
SERAP accused the CBN of prioritizing the interests of banks over the welfare of ordinary Nigerians, many of whom already struggle with the high cost of living.
The group pointed out that banks continue to report record-breaking profits while imposing excessive charges on customers.
“CBN policies should not be skewed against poor Nigerians and heavily in favour of banks that continue to declare trillions of naira in profits, mostly at the expense of their customers.
“The increase in ATM transaction fees will inflict misery on Nigerians and contribute to human rights abuses,” the letter read.
SERAP also noted that the policy contradicts President Bola Tinubu’s commitment to tackling poverty in Nigeria.
The rights group argued that the CBN’s action violates multiple legal provisions, including the Nigerian Constitution, the CBN Act, and the Federal Competition and Consumer Protection Act.
SERAP highlighted specific sections of these laws that prohibit unfair business practices and protect consumers from exploitative charges.
According to SERAP, the increase in ATM fees discriminates against low-income Nigerians who may struggle to afford the higher fees, creates a two-tiered financial system that favours the wealthy, contradicts the CBN’s stated mission to promote national economic well-being, and violates international human rights obligations under the United Nations Guiding Principles on Business and Human Rights,
“The CBN has responsibilities under the UNGPs to take effective steps to avoid or mitigate potential human rights harm and to consider ending any charges or transaction fees where severe negative human rights consequences cannot be avoided or mitigated,” SERAP asserted.
“We would be grateful if the recommended measures are taken within 48 hours of the receipt and/or publication of this letter.
“If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest,” the letter warned.
E-Financial
FG Seeks Fresh $300m Loan from World Bank for Health Security

Federal government has engaged the World Bank for a fresh $300m loan to strengthen Nigeria’s health security infrastructure.
Information obtained from the World Bank showed that the loan, which is under consideration, will be implemented by the Nigeria Centre for Disease Control (NCDC) with the Federal Ministry of Finance acting as borrower on behalf of the Federal Government.
According to information on the World Bank website, the loan project is expected to “increase regional collaboration and health system capacities to prevent, detect, and respond to health emergencies in the Federal Republic of Nigeria.”
The project is currently in the pipeline stage, with the disclosure date scheduled for February 6, 2025.
The World Bank board is expected to give its approval on July 30, 2025, following necessary assessments. The appraisal is set for April 14, 2025, and implementation will commence in the 2026 fiscal year.
According to a document on the concept of environmental and social review, the Nigeria Health Security Programme aligns with broader government efforts to enhance disease surveillance, diagnostic capabilities, emergency response, and laboratory networks across the 36 states and the Federal Capital Territory.
The programme’s primary objective is to enhance regional collaboration and strengthen Nigeria’s health systems to deal with emergencies. It falls within the World Bank’s investment in health, nutrition, and population sectors across Western and Central Africa.
According to the Environmental and Social Review Summary of the project, HeSP will expand molecular laboratory capacity, upgrade primary healthcare centres, establish emergency operation centres, and construct warehouses.
It will also deploy mobile laboratories and install water, sanitation, and hygiene facilities alongside solar energy systems to support health infrastructure improvements.
Although the total project cost is yet to be determined, the World Bank has committed $300m to the initiative. The funds aim to bolster Nigeria’s pandemic preparedness and improve response mechanisms for public health threats.
The initiative comes as Nigeria strengthens its public health infrastructure following lessons from previous outbreaks, including COVID-19.
If approved, the loan will support the NCDC in improving disease surveillance, diagnostics, emergency response, and laboratory services.
Nigeria has previously secured funding from international financial institutions to boost healthcare resilience, including financing for vaccine procurement, emergency medical services, and infrastructure development.
However, the project, categorised as a high-priority public health intervention, carries substantial environmental and social risks due to potential health, safety, and ecological concerns associated with infrastructure expansion.
Identified risks include increased medical waste, occupational hazards, and heightened energy and water demands.
Social risks range from potential grievances from stakeholders to concerns over land acquisition and implementing health interventions in conflict-prone areas.
- E-Financial2 days ago
SERAP Gives CBN 48-Hour Ultimatum to Withdraw ATM Fee Hike
- E-Financial2 days ago
FG Seeks Fresh $300m Loan from World Bank for Health Security
- General News2 days ago
FG Drops Merger of NCAA, NAMA
- News2 days ago
Binance Chief Insists Some FG Officials, Reps Demand $150m Bribe
- News2 days ago
inDrive Unveils Cashless Bank Transfer Feature in Nigeria
- E-Financial2 days ago
CardinalStone Acquires Radix Pension Managers
- Telecom2 days ago
NITDA Pledges to Foster Innovation with Cloud Infrastructure and AI Applications
- Telecom15 hours ago
Toriola, MTN Nigeria CEO again Defends Tariff Hikes amidst Backlash