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Access Bank DiamondXtra Rewards Loyal Customers Generously

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Access Bank DiamondXtra

Access Bank DiamondXtra rewards loyal customers with billions in prizes, boosting savings culture amid Nigeria’s competitive banking landscape

Access Bank DiamondXtra continues to deliver powerful incentives that retain customer loyalty and encourage savings in Nigeria’s fiercely competitive banking sector.

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Also read: Imisi wins Big Brother Naija amid fierce backlash

The bank’s flagship rewards programme, now in its 17th year, has become a highly anticipated event, handing out billions of naira in cash prizes and lifestyle perks to depositors maintaining qualifying savings.

Over the weekend in Lagos, businessman Edwin Oraka won the prestigious “Salary 4 Life” prize, guaranteeing him N200,000 monthly for 15 years.

For Oraka, a real estate entrepreneur, this represents long-term financial security.

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For Access Bank, it showcases the enduring appeal of incentive-driven banking amid rising competition from fintechs and microfinance institutions.

Since its inception in 2008, Access Bank DiamondXtra has rewarded more than 30,947 customers with over N6.62 billion.

This year alone, the programme earmarks N228.7 million for 12,073 winners across various categories, including regional draws, loyalty bonuses, and digital marketing training.

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Chika Ochuwa, regional manager at Access Bank, stated, “This initiative has only grown stronger each year, achieving remarkable milestones through our customers’ unwavering trust and our exceptional team’s dedication. Innovation and excellence remain at the heart of our success.”

As Nigeria’s banking industry grapples with inflation, regulatory tightening, and eroding customer confidence, rewards schemes like DiamondXtra provide an emotional connection beyond mere interest rates.

By offering life-changing prizes, the bank nurtures a savings culture in a market where many savers are tempted by informal investments or foreign currency holdings.

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Regulators, including the Lagos State Lottery Regulatory Commission and the Federal Competition and Consumer Protection Commission, closely monitor the initiative.

“We collaborate to ensure that Access Bank honours its promotional commitments, which is vital for consumer protection,” said Olubunmi Otti, consumer watchdog coordinator for South-West Nigeria.

Critics question whether reward schemes offer sustainable financial inclusion, but Access Bank insists DiamondXtra aligns with its mission to empower customers.

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Oraka reflected this, saying, “My loyalty to Access Bank has been steadfast, and I believe in the bank’s long-term value as an asset.”

Also read: Lagos farmers receive agricultural training for food security

In an era of digital-first competitors, Access Bank leverages DiamondXtra as both a branding and savings tool, betting that the promise of extraordinary rewards will keep depositors loyal and engaged.

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Rest of World to Shut Down as Search for New Home Continues

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Rest of World

Rest of World shutdown plans point to January 2027 as leaders seek a new institutional home for the nonprofit technology newsroom

Rest of World, the international nonprofit digital publication known for reporting on technology’s impact beyond Western markets, is preparing to end operations as an independent organisation in January 2027 while its leadership searches for a new institutional home.

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Deputy Editor Rina Chandran confirmed the development in a LinkedIn post on Monday, October 26, 2026, saying the newsroom would continue publishing until the end of January as efforts to secure a future for the publication continued.

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“Yes, it’s true: Rest of World is shutting down. After six years of award-winning reporting, our leadership is searching for a new home for the publication that was launched to cover innovation outside the West,” Chandran wrote.

She recalled joining the publication as its Southeast Asia editor in Bangkok before moving to San Francisco, where she became a deputy editor covering how technology developed in Silicon Valley affects people in other parts of the world.

Chandran described working with the publication’s reporters, editors, freelancers and columnists as a privilege, expressing appreciation for the people who contributed to its journalism.

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She also reassured contributors that work already commissioned would still be published and that existing journalism would be preserved and remain accessible.

“If you are a freelancer or columnist who has already been commissioned, you’re good! Your work will be preserved and continue to be accessible,” she wrote, thanking readers, donors and supporters.

The announcement follows a report by Semafor on Sunday that Rest of World founder and principal financial backer Sophie Schmidt had held discussions with several large institutions about potentially taking over the newsroom.

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According to Semafor, two people familiar with the plans said a late-January wind-down date had been set to give employees time to receive exit packages and seek new jobs if efforts to find a new institutional home failed.

Schmidt reportedly told donors that the publication would stop operating as a standalone entity at the end of January.

The proposed closure comes amid a reported decline in traffic from web searches and social media referrals over the preceding 18 months.

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The publication had attempted to retain readers by placing greater emphasis on Western audiences and requiring visitors to register before accessing articles.

Founded in 2020, Rest of World sought to broaden technology journalism beyond the traditional focus on Silicon Valley and other Western technology centres.

Its reporting examined how digital products, platforms and infrastructure shape everyday life, work and economies in emerging markets and other underreported regions.

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Schmidt pledged $60m to establish the project as a nonprofit newsroom.

Over the years, its coverage has explored technology-driven changes in labour markets, digital infrastructure, artificial intelligence and the influence of major technology companies.

The publication’s 2025 annual report said it reached more than 753,000 readers monthly across platforms and channels, with reporting spanning nearly 40 countries during the year.

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Those figures illustrate the scale of its international reporting, even as the organisation faces difficulties sustaining its current operating model.

The planned end of independent operations does not necessarily mean the publication’s journalism will disappear.

Its leadership is seeking an institution that could provide a future for the newsroom, while Chandran has said its existing work will remain accessible.

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Also read: Flamingos Target Quarter-Finals in Mexico Clash

Whether a suitable organisation will take over the publication, and what form Rest of World might take under new ownership or institutional support, remains unresolved.

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