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Why you should download the Diamond Bank Mobile App now

It is not surprising that Diamond Mobile is one of the best mobile apps in Nigeria. Diamond Bank has been at the forefront digital banking for years.

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Diamond Mobile App

It is a known fact that the emergence of digital banking has transformed the Nigerian financial services industry. These days, bank customers can easily perform all sorts of financial transactions right on their mobile phones, thereby avoiding stress. However, the ability to enjoy a really good digital banking experience lies in how functional a mobile banking app is. And there is, perhaps, no better mobile banking app than the Diamond Mobile app.

It is not surprising that Diamond Bank Plc currently has one of the best mobile banking apps in the country. After all, the bank has, for many years, been at the forefront of pioneering the digital banking revolution in Nigeria. And despite its successes in this regards, the bank continues to innovate in efforts to guarantee a future of secure, fast, and convenient banking for all.

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Conversely, this article examines some of the reasons why Nigerians need to download Diamond Bank’s mobile banking app, which is otherwise known as Diamond Mobile. The app’s unique features and good user interface are some of the things that endear it to its current users. Interestingly, these are the same reasons why you should download the app now, assuming you do not already have one. See for yourself below.

Key highlights of the Diamond Mobile App 

Launched in October 2012, this mobile banking app has, over the space of seven years, become one of the most highly-rated and most downloaded mobile apps in Nigeria and Africa at large. Checks by Nairametrics confirmed that over three million users who have downloaded it from Google Play, iTunes, and Windows.

Indeed, Diamond Mobile has many interesting features, which is the reason why millions of people love to use it. Take for instance, Diamond Bank customers can conveniently use the app to perform basic banking transactions such as transferring money and checking account balances. These things, as simple as they may seem, would have required account holders to visit their local branches and queue for hours. But thanks to Diamond’s very functional app, customers can now perform those same transactions right in the comfort of their rooms.

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More benefits of the app

There are a whole lot of things users of Diamond Mobile can do with the app.  Transactions involving bills payment (rent, utility bills, paid TV subscription, etc) can be made using the app. Diamond Bank customers can also use the app to purchase airtime for the phones, book flights, reserve hotel rooms, buy event and movie tickets, as well as manage the recipients/beneficiaries for all kinds of payments.

Your details are protected

Another important feature of the Diamond app is the fact that it protects the banking details of its users. As you may well know, using a mobile app entails signing into it with your personal details. It, therefore, becomes important that users are guaranteed of the protection/safekeeping of their mobile banking details. This is exactly what Diamond Mobile does for its users. The app safely stores users’ details and even helps them recover their login details in situations where phones are either lost or stolen.

In conclusion, you need to download this app

Diamond Mobile is a very easy banking app to use. As a matter of fact, anyone using it for the first time might not even require any form of guidance introduction on how to go about it. This is because Diamond Bank Plc has continuously and meticulously improved on the app over the years to make it one of the best mobile banking apps in Nigeria, and indeed Africa.

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Emmanuel holds an MSc. in International Relations and a B.A in Philosophy & Logic, both from the University of Ibadan. He is a communications professional. As a Lead Business Analyst at Nairametrics, he focuses mostly on quoted companies, their products/services, and the economy in which they operate. Emmanuel is also experienced in the areas of corporate communication, brand communication, corporate storytelling, public relations, business research, management/strategy, etc. You may contact him via his email- emmanuel.abara@nairametrics.com.

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Ecobank Transnational to hold AGM by proxies on June 30th

Due to the ravaging Coronavirus pandemic, ETI said the AGM will be held by proxies.

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Ecobank

Ecobank Transnational Incorporated (ETI) has announced the date and venue of its 32nd Annual General Meeting (AGM). According to a disclosure that was sent to the Nigerian Stock Exchange, the company’s AGM and an Extraordinary Meeting are scheduled to hold on June 30th, 2020, at Eko Hotels and Suites in Victoria Island, Lagos.

Due to the ravaging Coronavirus pandemic, ETI said the AGM will be held by proxies. The proxy AGM is expected to enable the Pan-African financial institution to abide by the directives issued by governments and agencies regarding COVID-19 and how to contain its spread.

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“As a responsible corporate citizen, ETI intends to strictly comply with this restriction in addition to other applicable health and safety measures. Accordingly, attendance at this year’s General Meetings shall be mainly by proxies in accordance with the Articles of Association of the Company and applicable law,” a statement by the company said.

To this end, shareholders have been advised to select any of the company’s top executives (including the Chairman, Emmanuel Ikazoboh, and the MD of Ecobank Nigeria, Patrick Akinwuntan) to represent and vote on their behalf during the AGM. Proxy forms may be downloaded from the company’s website, filled, and submitted in advance.

Meanwhile, the issues that are up for discussion during the AGM and the Extra Ordinary meeting are enumerated below.

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Annual General Meeting

1. Approval of the accounts
2. Appropriation of the Profits
3. Election of Directors
4. Ratification of the co-option of directors
5. Renewal of the appointment of the joint auditors
6. Approval of the Final Board Fees for Retiring Directors

Extraordinary General Meeting

1. Withdrawal of resolution on consolidation of shares
2. Amendment of the Articles

Note that in Q1 2020, ETI reported profited after-tax from continuing operation of N66.4 billion, marking a 19% decline when compared to N81.9 billion during the comparable period in 2019.

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ETI’s share price on the Nigerian Stock Exchange closed Friday’s trading session at N5.55. The company has a market capitalisation of about N137.3 billion according to information obtained from Bloomberg.

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NNPC explains measures to cut cost of crude oil production

Ewubare stated that NNPC was looking very closely at such variables as logistics, security, and transportation with a view to reducing the cost of production to $10 per barrel or below. 

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The Nigerian National Petroleum Corporation (NNPC) has said that it is taking some measures to bring down the cost of crude oil production to $10 per barrel or below. 

According to a press statement that was signed by NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, this was disclosed by the Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr. Roland Ewubare, on a Channels TV breakfast programme on Friday, June 5, 2020. 

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Ewubare pointed out that the peculiarity of the terrain was an important factor in determining cost, with such issues as pipeline vandalism, crude oil theft, and some others being critical factors that are peculiar to the Nigerian terrain and would definitely drive up crude oil production cost in the country. 

He, however, stated that NNPC was looking very closely at such variables as logistics, security, and transportation with a view to reducing cost of production to $10 per barrel or below. 

He disclosed that much had been done over the years in the area of reducing contracting cycle which used to be a major factor responsible for high cost of production, stressing that the National Petroleum Investment Management Services (NAPIMS) achieved a six-month contracting cycle under him as Group General Manager. 

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Mr. Ewubare denied reports that Nigeria is part of OPEC+ member countries that did not comply with the output cut that was agreed by the alliance 

Mr. Ewubare explained that though Nigeria’s total production capacity was 2.3million barrels per day, it was currently producing only about 1.4million barrels per day in compliance with the OPEC+ production quota, stressing that what makes up the little extra over the 1.4mbpd figure being bandied around for Nigeria was condensate which is usually not computed as part of production in OPEC quota.  

While making some clarification, Ewubare said, There’s some confusion in the market around the parameters for the production cuts. Nigeria has a full production capacity of about 2.3mbpd. We are currently producing between 1.6 and 1.7mbpd. Our OPEC quota as a result of the cuts is about 1.4mbpd. You and I know that condensate is not included in the computation of the cut numbers. So what we have is 1.4mbpd of crude oil. The little you see above 1.4mbpd is made up of condensate which does not count as part of the basis for assessing our OPEC quota”. 

NNPC Group Managing Director, Mallam Mele Kyari, in a recent interview, advanced a similar position where he stressed that NNPC was working assiduously to bring down the cost of crude oil production to not more than $10 per barrel by 2021.  

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NNPC raises alarm over low grade, contaminated diesel in the market

This warning was contained in a report by the Managing Director, NNPC Retail Limited Managing Director, Dr. Billy Okoye, who also admonished motorists to be careful of the off-spec products. 

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The Nigerian National Petroleum Corporation (NNPC) has raised alarm over the circulation of low grade and contaminated AGO, popularly known as diesel, which is offered at discounted prices in some parts of the country. 

This was disclosed in a press release by the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, on Friday June 5, 2020. 

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This warning was contained in a report by the Managing Director, NNPC Retail Limited Managing Director, Dr. Billy Okoye, who also admonished motorists to be careful of the off-spec products. 

READ MORE: FG projects $2 billion annual revenue from Escravos Gas project

The state oil giant, in the press statement, said, “The Nigerian National Petroleum Corporation (NNPC) has raised an alarm over prevalent low grade and contaminated AGO, otherwise called diesel, offered at discounted prices in parts of the country.” 

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Dr. Okoye, stated that the warning became necessary because the low grade contaminated diesel is harmful to machines and the environment. He explained that NNPC Retail Ltd is a market leader and therefore considered it incumbent upon it to alert the general public on the circulation of these low grade products. 

While urging consumers of the product to patronize the oil firm’s service stations where the quality of their products was assured, Dr. Okoye gave assurances that NNPC Retail Limited dealt only in premium high-quality products in the interest of Nigerian motorists and users. 

READ MORE: Fitch revises national ratings of GTBank, Zenith bank

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Unlike the premium motor spirit otherwise known as petrol, which was operating a fixed price regime and had NNPC as the sole importer, the diesel products were deregulated and had other independent marketers apart from NNPC importing the products as well. 

The intense competition and unhealthy drive for profit, in addition to poor regulation, could have given rise to this.  

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