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More Millionaires Emerges in Diamond “Xtraordinary” Wins Scheme

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L – R:  Dominic Gali, Emerging Business Officer, Diamond Bank Plc; Tajudeen Adigun, N1Million Winner, Diamond XtraOrdinary Wins Scheme; and Dubem Ngwuluka, Branch Manager, Diamond Bank Plc, Apapa  at the cheque presentation ceremony to Winners of the Diamond XtraOrdinary Wins Scheme  held in Lagos recently.
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Diamond Bank has reaffirmed its resolve to reward its loyal customers with the emergence of 22 more millionaires in its ongoing Diamond Xtraordinary Wins promotion.

This brings to 35 the total number of millionaires produced by the Bank since July 2017 when the scheme began.

A unique feature of the DiamondXtra Season 9 campaign, the Diamond Xtraordinary Wins offer has produced more than 1,500 winners including 10 customers who won N500,000 each, 300 customers who won N10,000 each and 200 customers who won N5,000 each. The Bank also rewarded 1,000 customers with N500 airtime each.

Commenting on the scheme, Chioma Afe, Bank’s head of Corporate Communications, said, “We are pleased to add 22 more millionaires to the long list of customers who have benefited from the Diamond Xtraordinary Wins scheme.

Given that the primary requirement to win is to maintain a minimum of N5,000 in their DiamondXtra accounts, we are convinced that the N1million will go a long way in helping the lucky customers achieve their financial goals.

The Diamond Xtraordinary Wins scheme draws to a close at the end of September 2017. In the draw scheduled for this month, one customer will win the star prize of salary for life (where Diamond Bank will pay the customer N100,000 monthly for 20 years) and 13 customers will win N1 million each, 10 customers will also be rewarded with N500,000 each while 300 customers will win N100,000 each. An additional 300 customers will be rewarded with N10,000 each and 200 customers will emerge as winners of N5,000 each. And the Bank will also give out N500 airtime each to 1,000 customers.

“We encourage everyone to take advantage of this offer to win exciting cash prizes this month. All that is required is to open a DiamondXtra account, maintain a minimum account balance of N5,000 and you may be the next winner of Salary for life or any of the other mouth-watering prizes. Remember, saving multiples of N5,000 increases the chance of winning, so start saving today”, urges Mrs. Afe.

It will be recalled that the Bank recently introduced a Longevity Draw aspect in the campaign where DiamondXtra customers who have maintained their account for a minimum of 5 years and have increased their balances with multiples of N5,000 during this period will qualify for a draw to be among 10 customers who will receive N1 million each or 100 customers who will get N100,000 each”.

 


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E-Financial

World Bank Approves $300m Loan to Support IDPs in Northern Nigeria

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World Bank has said that it has given approval of $300 million to fund a new project aimed at bolstering access to services and economic opportunities for internally displaced persons (IDPs) and their host communities in northern Nigeria.

World Bank Approves $300m Loan to Support IDPs in Northern Nigeria

In a release, the World Bank said the Solutions for the Internally Displaced and Host Communities Project (SOLID) was approved on August 7.

It stated that the project will adopt an integrated development strategy to help displaced persons and host communities transition from humanitarian aid to self-reliance and resilience.

It also said the ongoing conflict and insecurity in the region have displaced more than 3.5 million people, straining infrastructure and deepening competition for scarce resources in affected communities.

The bank said SOLID will build on previous government and partner interventions, including the multi-sectoral crisis recovery project (MCRP), which focused on emergency recovery.

“Key areas of focus include building climate-resilient infrastructure, promoting social cohesion, supporting livelihoods, and strengthening institutions to better respond to the pressures of forced displacement.

“We are glad to support this initiative which has a tremendous potential to help Nigeria in addressing development challenges associated with protracted displacement in a sustainable way,” Mathew Verghis, World Bank country director for Nigeria, said.

“The Project’s integrated approach which is aligned with the National IDP Policy and the FGN’s long-term development vision will ensure that IDPs and host communities can transition from dependency on humanitarian assistance to self-reliance and resilience which will open up better economic opportunities,” it added.

The World Bank, which noted that the cproject is expected to benefit up to 7.4 million people, of whom up to 1.3 million individuals are identified as IDPs, added that the project will be implemented through a coordinated, community-driven approach involving all tiers of government, with strong partnerships from international stakeholders.

 

 

 

 


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UBA Unveils Revamped Website, Heralds New of Digital Experience

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United Bank for Africa (UBA), Plc, Africa’s Global Bank, has launched its revamped Group website to enhance users’ digital experience.

UBA Unveils Revamped Website, Heralds New of Digital Experience

The newly revamped website boasts of a faster, smarter, and more dynamic digital platform, designed to deliver live news updates, real-time Nigerian stock prices, and a world-class user experience among other world-class features.

The upgrade marks a significant leap in the bank’s digital transformation journey, setting new standards for speed, accessibility, and innovation in the African banking industry.

Alero Ladipo,  group head, Marketing and Corporate Communication, UBA, who spoke excitedly about the revamped website, explained that the redesign focuses on simplifying user-journey, improving responsiveness across all devices, and incorporating a language-agnostic interface that caters to the bank’s diverse global audience.

She explained that with its sleek, intuitive layout and enhanced navigation, the site empowers customers, investors, and stakeholders to access critical information instantly – whether it is the latest market movements, breaking financial news, or UBA’s wide range of products and services.

Ms Ladipo said, “We are thrilled to unveil our new website, which represents a significant milestone in our digital transformation journey. Our goal is to provide a world-class digital experience that meets the evolving needs of our customers and stakeholders.”

Continuing, she added, “A major highlight of the upgrade is its speed, powered by an upgraded server infrastructure with enhanced load balancing to ensure minimal downtime and lightning-fast performance. By combining speed, accessibility, and live market intelligence, our new platform strengthens our position as an industry leader.”

She pointed out that the site also integrates automated news updates powered by International agency, Bloomberg and real-time stock prices tracking, ensuring visitors remain informed at all times.

Throwing more light on the new features, Amanda Oguamanam, head, Digital and Online Marketing, UBA, said; “We have transformed our website to be faster, cleaner, and more engaging, removing clutter by over 60%, upgrading servers for speed and reliability, streamlining navigation, and tailoring content to inspire global partners while making it easier for customers to find what they need.”

Other standout features, she added, include improved accessibility for users with disabilities, dark/light mode toggle, advanced search functions, and a simplified content structure, which are all designed to deliver an inclusive, modern experience for a global audience.

The revamped website is live and accessible at www.ubagroup.com.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.


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NBS Reports ₦6.72 Trillion VAT Haul as Tax Reforms Pay Off

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Nigeria’s Value Added Tax (VAT) revenue surged to ₦6.72 trillion in 2024, marking an 84.6% increase from ₦3.64 trillion in 2023, according to the National Bureau of Statistics (NBS). This sharp rise reflects stronger economic activity and improved tax collection efforts across key sectors.

VAT revenue showed consistent growth throughout the year. In Q1 2024, collections stood at ₦1.43 trillion. This rose to ₦1.56 trillion in Q2, representing a 9.09% increase. Q3 recorded ₦1.78 trillion, up 14% from the previous quarter, while Q4 peaked at ₦1.95 trillion, a 9.5% rise from Q3.

In Q4 alone, VAT collections totaled ₦1.95 trillion, with domestic VAT payments contributing ₦917.40 billion, non-import foreign VAT at ₦554.68 billion, and import VAT at ₦474.75 billion. Domestic VAT remained the largest source, indicating strong local business activity and consumer spending.

Several sectors posted significant quarter-on-quarter growth in Q4. Extraterritorial organisations and bodies saw a dramatic rise of 180.05%, followed by agriculture, forestry and fishing at 70.83%, and human health and social work at 46.13%. These gains suggest increased operational scope, improved compliance, and possibly targeted government incentives.

However, not all sectors fared well. Households as employers and self-use production contracted by 28.97%, while the information and communication sector declined by 23%. The drop in ICT may reflect shifting market dynamics or regulatory headwinds affecting digital services.

Overall, the surge in VAT revenue signals a positive fiscal outlook for Nigeria, with implications for budgetary planning, infrastructure investment, and social services funding. It also highlights the importance of sector-specific monitoring to sustain momentum and address emerging challenges.


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