E-Financial
Access Bank’s DiamondXtra to Make Millionaires Daily in Mega Money Rain

Access Bank Plc has turned the dial up with its DiamondXtra product, in a bid to promote savings culture among Nigerians and reward loyal customers during the festive season.
They are set to reward one lucky customer with N10 million, another lucky customer with Salary for Life (N100,000 every month for 20years) on December 25th 2021 and in the countdown to this mega draw, they intend to reward one customer daily with N1million from December 6 to December 24, 2021.
Addressing newsmen during the unveiling of the campaign tagged “DiamondXtra Mega Draw” in Lagos recently, Victor Etuokwu, Executive Director, Retail Banking, Access bank Plc said ”There’s no better way to celebrate Christmas and the end of year than with a big win.
Beginning in the month of October, we will be giving our loyal customers and new customers the opportunity to save and qualify for the daily DiamondXtra Mega draw which will be a daily draw in December for N1million naira for a lucky customer, culminating in the jackpot draw on Christmas Day for the Grand prizes.
All you need to do to qualify for the draw is to open a DiamondXtra account and fund up to N50,000. For every N50,000 you save, you get a ticket into the Mega draw and increase your chances of becoming a Millionaire in the DiamondXtra Mega Draw.
To open a new account, simply dial *901*5# and if you have an existing DiamondXtra account, just dial *901# to fund the account with N50,000 or more. Victor concluded”.
Reiterating Victor’s comment, Adaeze Umeh, Group Head, Consumer Banking, Access Bank Plc, confirmed to newsmen that more than 31 customers will be rewarded with over N60million during the campaign period.
In her words “We want to change more lives and that is why we have taken the DiamondXtra scheme to another level. we want to empower more Nigerians financially during the festive period so that they can take care of their needs and loved ones too.
“We will be creating one millionaire every day in December and 2 lucky winners will go home with the grand prize money of N10million and Salary4life (N100,000 for 20 years).
“This is our own way of celebrating Nigerians and ushering them into the yuletide season. We urge all our customers to take advantage of this great opportunity and join the winning train.
“All you need to do as an existing Diamondxtra customer is to increase your account balance with a minimum of N50,000 or more to qualify. New customers can also walk into any of our branch or dail *901*5# to open a DiamondXtra account with a minimum of N50,000.
“Our Diamondxtra Cluster draws are still open for customers in the different regions and we encourage various associations, Clubs, Groups, Societies etc., to come together as a cluster, open DiamondXtra accounts for their members with N5,000 minimum deposit each and a draw will be held for their group where the winning pot is up to N150,000.
“To qualify for a cluster draw, a minimum of 80 -100 members of the association or club will have to open and fund their account with a minimum of N5,000 or more to stand a chance to win”. Adaeze concluded.
E-Financial
GTCO to Become First Nigerian Bank to List on London Stock Exchange

By 8 am on July 9, GTCO Holdings is set to commence trading on the London Stock Exchange.
As the group is set to list all its shares on the London Stock Exchange, becoming the first Nigerian banking entity to do so.
This is as the group launches a public offer of new ordinary shares to raise approximately $100 million on the London Stock Exchange.
The equity offering, which is an accelerated bookbuild and managed by Citigroup, began on July 2 and is to last until July 31.
On July 31, the group announced that it would cancel the listing of its Global Depositary Receipts (GDRs) on the UK Financial Conduct Authority’s (FCA) Official List.
It will also cancel their admission to trading on the London Stock Exchange (LSE)’s main market.
In place of the GDRs, the group will list all its ordinary shares directly.
aims to admit all its shares to the equity shares category for international commercial companies under a secondary listing on the FCA’s Official List.
The shares will also begin trading on the LSE’s main market for listed securities.
According to a regulatory filing on the London Stock Exchange, the net proceeds from the offering will be used to recapitalize GTBank Nigeria.
Based on the prevailing exchange rate of N1,540 to the US dollar, the targeted $100 million equates to approximately N154 billion.
This capital raise is expected to position the Group to fully meet the N500 billion minimum paid-up share capital required by regulators for banks with international licenses.
As of now, both Zenith Bank and Access Holdings have already met—and exceeded—this threshold.
E-Financial
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance

The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd at brief ceremony held in Abuja.
Olusegun Omosehin, commissioner for Insurance emphasized the Commission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements. He urged the companies to prioritize good corporate governance, stability, and timely claims settlement processes.
The Commissioner reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance. He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth.
SanlamAllianz recently launched its operations in Nigeria, marking a significant step in the company’s Pan-African expansion.
The launch follows the merger of Sanlam and Allianz’s Nigerian operations, creating a new entity named SanlamAllianz Nigeria.
This joint venture aims to transform the Nigerian insurance landscape by offering enhanced customer experiences, innovative solutions, and improved financial inclusion.
E-Financial
World Bank Approves Extra $65m for Nigeria’s SPESSE

World Bank has approved an additional $65 million loan for Nigeria to support the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145 million.
The approval was granted on June 24, 2025, according to details posted on the World Bank’s website, which also indicates that the project’s status has moved to “active” following the approval.
The SPESSE project, initially launched with an $80 million loan approved in February 2020, aims to strengthen institutional capacity for managing procurement, environmental, and social standards in both the public and private sectors across Nigeria.
The World Bank described the project’s development objective as the establishment of sustainable capacity in these areas.
This latest approval is part of a broader wave of financing expected from the World Bank to Nigeria in 2025.
The bank is scheduled to approve loans totalling $1.61 billion over the coming months, supporting various development initiatives.
Among these is a $300 million loan for the ‘Solutions for the Internally Displaced and Host Communities Project,’ expected to be finalised by the end of July.
This project aims to improve access to basic services and economic opportunities for internally displaced persons (IDPs) and host communities in selected local government areas in northern Nigeria.
In September, the World Bank plans to approve four additional loans: a $10.5 million facility to support technical assistance for the Central Bank of Nigeria, a $300 million Health Security Program targeting Western and Central Africa (Nigeria – Phase IV), a $500 million project for building resilient digital infrastructure (BRIDGE), and a $500 million loan under the Nigeria Sustainable Agricultural Value-Chains for Growth project aimed at promoting sustainable growth and job creation within key agricultural sectors.
Earlier in March 2025, the bank approved three financing requests amounting to $1.13 billion.
These funds are directed towards projects focused on enhancing quality education, boosting household and community resilience, and improving nutrition.
Among the approved loans were $80 million for the Accelerating Nutrition Results in Nigeria 2.0 project, $552 million for the HOPE for Quality Basic Education for All programme, and $500 million for the Community Action for Resilience and Economic Stimulus Programme.
In February, the Nigerian government announced expectations of new World Bank loans totalling $2.2 billion for six different projects in 2025. This follows a $1.5 billion loan disbursed in 2024 aimed at strengthening Nigeria’s economic stability and resource mobilisation efforts.
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