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Access Bank keeps impacting lives with DiamondXtra savings scheme

Access Bank has gone a step forward by enhancing the scheme to include benefits such as a Family Health Insurance cover for a year worth N1.6million



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For Okpala Mark, a Lagos-based clearing and freight forwarding agent, he never has to worry about paying his children’s school fees, at least not for the foreseeable future, after winning a five-year education allowance from the DiamondXtra savings reward scheme powered by Access Bank.

“Awesome,” said the agent, who has had the account since 2012, while expressing his excitement at winning the prize. “It’s very very important (for me),” he continued, “As a matter of fact, it’s a very big relief on my children’s school fees. Very big relief. I thank God and I thank Access Bank.”


Okpala further explained that he had opened his DiamondXtra account a long time ago and was not expecting to win. “Actually when I opened the account I didn’t know I would win anything or if they were doing any promo on the account. So I just opened an account. When I was told that I had won, I didn’t believe it. It was a very big surprise when I got there and I was told that I won.”

Last April, one of the winners was Chukwuemeka Emmanuel, a businessperson based in Lagos that had been operating his DiamondXtra account for five years. “I am filled with joy today and I encourage Nigerians to tap into the rewarding scheme,” Emmanuel said.

READ ALSO: Why Nigerian top bank stocks are too cheap to ignore?

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“When I received a call that I have won ₦1million, I did not believe it, but now that the bank’s executives have presented a cheque, I have no reason to doubt them. I thank God and thank the management of Access Bank for this great initiative. My advice to all out there is to go and open a DiamondXtra account and save to win too.”

Like Emmanuel and Okpala, Access Bank has been impacting the lives of numerous customers through the reward scheme. Formerly called SavingsXtra, the initiative was launched in July 2008 by the defunct Diamond Bank to encourage savings and reward its loyal customers.

Following a repositioning of the product in 2013 to cater to a larger section of Nigerians, the name of the scheme was changed to DiamondXtra.

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Although, the merger between Access and Diamond  Bank had raised concerns on whether the savings initiative would no longer hold, but it still stands as the longest reward scheme with two million customers. Over the last 11 years, about N5.7 billion have been won in cash and gift items monthly and quarterly by more than 19,000 customers.

Now in its 12th season, Access Bank has gone a step forward by enhancing the scheme to include benefits such as a Family Health Insurance cover for a year worth N1.6million; an increase in the number of winners for the Rent-for-a-year prize to 21 per quarterly draw from three and a ₦1million business grant.


Meanwhile, a total of 5,027 customers will be rewarded with ₦348.9million in the current edition.

READ ALSO: Banks beware: Small challenger banks are introducing disruptive account setup options 

Despite being a highly-rewarding scheme, entry for participation is very simple. Existing customers only need to increase their DiamondXtra account balance with a minimum of ₦5,000 every month while new customers can open an account by simply dialing *901*5# with a minimum of ₦5,000 and start growing their balances.

Every ₦5,000 in the DiamondXtra account gives the customer a ticket in the draws, so the more multiples of ₦5,000 saved, the higher the chance of winning.

At the monthly draw, 10 customers have the chance to win ₦1 million each while the quarterly draw includes the star prize of ₦100,000 salary paid every month for the next 20 years, education allowance for five years, rent for a year, and cash prizes ranging from ₦50,000 to ₦1 million.

The current season also features women’s draws in March to commemorate Women’s Day as well as targeted draws to reward associations, organizations, Clubs, and Societies.


The reward redeeming process is as straightforward as well. Speaking in an interview with Ventures Africa, one of the winners of the ‘rent for a year’ prize in the current season, Akitiyan Yerimah in Kaduna, said she was able to get her prize despite not making it to Lagos.

“It wasn’t stressful. I was not able to make it to Lagos to redeem the prize but I was able to liaise with the branch officer here and they credited my account.”
Yerimah, who has been a customer of Access Bank for just three years and uses her account for savings, added that the reward has “gone a long way in solving some financial issues.”

READ MORE: COVID-19: Union Bank closes some branches, downgrades activities in FCT, Lagos, Ogun

She then called on Nigerians to partake in the initiative as it was real. “A lot of people think that things like this are a scam but it’s real,” she said. “Even me, before I thought it was a scam but as one of the beneficiaries, I believe that a lot of people can start saving too. Even if it is little, they still have a chance to win.”

Reiterating the bank’s commitment to rewarding its customers for their patronage, Victor Etuokwu, the company’s executive director for retail banking, describes DiamondXtra as “the best banking product in the country at the moment” while calling on Nigerians to move to the initiative so that they can “partake in the goodies which the product brings.”

Meanwhile, Robert Giles, the bank’s head for product insights and capabilities, notes that the recent merger between Access and Diamond will ensure more accessibility of products to more customers.

“It is exciting that we are going to continue changing more lives because we now have a larger customer base,” he said. “So our coming together with the best capabilities will bring the best services and products in the market.”

DiamondXtra is an interest yielding hybrid account – a combination of both savings and current account features – which allows the deposit of both cash and third party cheques. To open a DiamondXtra account, simply dial *901# from your mobile phone and follow the prompts and fund the account with a minimum of ₦5,000 or click here to know more.

Going forward, the Executive Director, Retail Banking, Access Bank, Victor Etuokwu, while speaking during the launch of its 12th season of the promo in Lagos, said that the bank has introduced new segments to the scheme.

READ MORE: Business Man, Nine Others Win Big in DiamondXtra Season 11 Monthly Draw

Etuokwu stated: “This year will be wonderful for our access bank customers especially the ones who have a diamondxtra savings account. This season we are introducing several good stuffs over last season.

“We will have over 63 winners for rent for a year category, 3 people winning salary for life and we will introduce a free health insurance scheme that will cover the customer, spouse or husband and three children.”

Nairametrics often allows the usage of its website for businesses wishing to send out important press releases, articles and other communication forms of their products, services, events, employees, and personalities. Some of these articles are paid for.

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Economy & Politics

Lagos to shut down Marine Beach bridge for emergency repairs

The closure will allow the Federal Ministry of Works to carry out emergency repairs on the bridge, in line with the government’s vision of providing a better transportation system in the state.



Lagos to shut down Marine Beach bridge for emergency repairs

Lagos state government has announced that the Apapa Marine Beach bridge will be closed for five months, from Wednesday 27th May, to Wednesday 21st October, 2020.

The closure will allow the Federal Ministry of Works to carry out emergency repairs on the bridge, in line with the government’s vision of providing a better transportation system in the state.


In a statement from the Lagos state Ministry of Transportation, the Commissioner, Dr. Frederic Oladeinde, noted that the repairs were long overdue, and necessary to ensure safety of Lagosians, given the number of motorists that use the route.

READ MORE: Nigerians knock Fashola over comments on “bad roads”  

The Commissioner noted that the repairs included bearing and expansion joint replacement and would be executed in two phases, taking one lane of the bridge at a time.

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The first phase will involve handling the lane inbound Apapa while the second phase will be designated to work on the lane that conveys vehicles outside the axis,” he said.

Alternative routes

Oladeinde noted that alternative routes around the bridge had been improved to make them motorable, and ease movements for road users.

READ ALSO: Osinbajo sets up committee on reopening of Nigerian economy, suspends loan deductions for states

To manage the construction period, the statement noted that Traffic Management Authorities would be hard at work to ameliorate the expected traffic issues and supervise other arrangements.


“Motorists inwards Wharf road will be diverted to the other section of the bridge outwards Apapa, a contraflow of 200metres has been put in place for vehicles to realign with a proper direction inwards Ajegunle or Wharf road, Apapa, while Motorists descending to Total Gas under bridge will drive without any hindrance,” it read.

The Commissioner called for the understanding and cooperation of motorists and road users during the period to ensure a smooth flow of plans.

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Economy & Politics

Fayemi set to activate digital economy with N5billion broadband infrastructure

Governor Fayemi plans to activate Ekiti state’s digital economy, this would help generate healthy competition within the ICT sector



Fayemi set to activate digital economy with N5billion broadband infrastructure in Ekiti state

Ekiti state government has concluded plans to create a digital hub, with the laying of a 606-kilometer broadband infrastructure.

The project is expected to lift the state from 16% internet penetration to 90% and is estimated to be worth N5 billion, with the Federal Government contributing N1.1 billion of the total sum.


This plan is part of the memorandum of Understanding (MoU) which the state Governor signed with O’odua Infraco Resources Limited, a consortium that develops high speed and efficient Fibre Optic Cable (FOC) Open Access Network (OAN) across the South-West region of Nigeria.

According to the Managing Director of O’odua Infraco Resources Limited, Mr Sammy Adigun, the project will be officially flagged off in October and completed within 14 months.

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(READ MORE: What Nigeria stands to gain from new National Broadband Plan)

This decision is a follow-up to the recent crash of Right of Way charges from N4,500 to N145 per meter for broadband infrastructure, and in line with one of the five pillars of Governor Kayode Fayemi’s development plan for Ekiti state.

The Governor noted that these decisions would help generate healthy competition within the ICT sector, thus activating Ekiti state’s digital economy and digital education.

Fayemi noted that the project execution, as well as the broadband policy in the state would be coordinated and supervised by a Digital Infrastructural Committee, made up of various relevant government institutions critical to the implementation of the project.

READ MORE: NCC, Infracos to boost broadband infrastructure with N265 billion 


“For us the roadmap is first the fibre connectivity itself, the second is the adequate data center infrastructure, the third is the e-learning programme which will cover our educational institutions, then our safe city, our security programme will also be included.

“With our geographical land information system (GIS), we would digitalize all our land records, and of course, commercial investment as well as digitalisation of our government assets and our health education initiative,” Fayemi explained.


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Economy & Politics

NCC reacts to claims that minister chased Diaspora Commission’s staff from office complex

The NCC denies claims of the video on social media, pointing out that the staffs of NIDCOM were not sent packing from the digital economy complex



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The Nigerian Communications Commission (NCC) has reacted to claims by the Chief Executive of Nigeria Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, that her staff members were chased out of its premises by armed men on the orders of the Minister for Communication and Digital Economy, Isa Pantami.

The NCC, through a press statement on May 24, 2020 signed by its Director, Public Affairs, Dr. Henry Nkemadu, has said that nothing of such happened as it denied claims in a video making rounds on social media that the staff of NIDCOM were sent packing from the digital economy complex.


According to the press statement from NCC:

Following the completion of the NCC building at Mbora, Abuja designated as NCC Annex and the acute shortage of accommodation space for the staff of the commission in the NCC head office at Maitama, Abuja, the Board of the commission directed the decongestion of the Head office building. Some of the departments of the NCC had started moving to the new office complex of 5 floors when discussions were held between the NCC and the Diaspora Commission to enable the Diaspora Commission also utilize any free offices within the complex.

“The fifth floor allocated to them had to be used to accommodate other departments from the NCC headquarters to ease the congestion. NCC’s offer to house the Nigeria Diaspora Commission was predicated on the long held position of the NCC that agencies of government will achieve more through strategic collaboration, partnership, synergy and sharing to the extent allowed by relevant laws.”

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(READ MORE: PenCom dissolves interim management committee for First Guarantee Pension, appoints new board)

NCC disclosed that it had secured approval for the commissioning of the office complex by President Buhari, and also the launching of 4 important projects of NCC, together with the renamed Ministry of Federal Ministry of Communication and Digital Economy.

It also stated that the offer to NIDCOM had not been withdrawn, but had only hit a bump arising from the preparation for the visit of President Buhari to launch the projects and inaugurate the complex. It said that the Board and Management of NCC took a decision to ensure that every activity in the building was in line with the Federal Government’s agenda.

Going further, the statement reads:

“Incidentally, after the offer of the office spaces to the Diaspora Commission, the Director General, Mrs. Abike Dabiri-Erewa had not visited the complex to take possession of any of the offices and also the commission had not started using any of these spaces as offices.


‘’As is usual in ensuring security and accountability before, during and after presidential visits, the building had to be cleared to allow for only known and identifiable persons to have access within the complex. Therefore, the Honourable Minister of the Federal Ministry of Communications and Digital Economy Dr. Isa Ali Ibrahim Pantami could not have sent armed men to drive the staff of the Diaspora Commission out of the Communication Economy Complex.”

The statement also pointed out that as at that time, only NCC staff were accredited to have access within the premises and that all properties belonging to NIDCOM were safely warehoused in some of the offices within the complex.

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