Access – Diamond Bank Merger: Consumer to benefit Immensely


Access- Diamond Bank Talk. The Head, Consumer Liability Products, Diamond Bank, Mr. Osita Ede, in a recent interview with Lailasnews has cleared the fear in the air on the ongoing business talk between his Bank and Access bank PLC saying the consumers will benefit greatly from their talk which might finally lead to merger. In order to bring you this details, Consumernewsng.con culled this story from

See excerpt below:

Diamond Bank has a lot of retail products and the Diamondxtra is one of them. With the business combination deal with Access Bank, will the Diamondxtra product continue?

We have looked at all that and it is going to be a bigger Diamondxtra. Diamondxtra stays the way it is. Some of the concerns have been coming up with regards to customers who won prizes like ‘Salary for Life.’ We see some of those questions in the social media asking what happens to them. So, the message we want to go out there is that nothing changes.

Those that have won, your prizes will still keep coming, the Diamondxtra remains Diamondxtra. In fact, we are not even changing the name. So as we merge, it is going to become a bigger bank, we are stronger together.

So, the idea is to push out the product for all the customers. Just imagine Diamondxtra having more customers with all the customers in Access Bank also getting on board. It is going to be a much bigger reward scheme.

I would say one of the reasons why we are bent on keeping Diamondxtra is that if you listen to testimonies of some winners we have had, it is actually so touching.

For instance, if you were at the launch of season 10 where some of them gave testimonies of how their lives were touched and changed, you will find out that for a whole lot of people this has been a life changer for them.

And for that reason, we want to continue with that experience. It is our way of connecting with the average Nigerian and we want to continue that. For instance, if you go to the website, you will see a video of a welder who won ‘Salary for Life’ and the young man never knew that he could win.

And every month he gets his payment, he gets his N100,000 paid into his account and he is going to get that for 20 years. I think he has done for just 2 years now and his still has 18 years to go.

The great thing there is that Season 10 ended by the end of January and the we will launch a bigger season, that will be a bigger and better season. But I will just hold onto some of the features till the launch. We have a whole lot of things; we will never disappoint our customers when it comes to rewarding them. So, there will be some big stuffs coming up.

Asked to describe the experience from Season 10 of diamondextra, he said, In Season 10 we have actually had more winners than we had in Season 9. In fact, the total number of winners for season 10 was 4,957, and that was about five per cent more than what we had in Season 9. We made 130 millionaires, we gave out three new cars and we introduced a special prize category called education grant.

And in that education allowance, the winner gets N100,000 every month for five years. Just imagine you are getting into school or your son or ward is getting into school, and for the next 5 years the individual gets N100,000 every month for five years.

So it is a very wonderful reward scheme and we didn’t just throw out that reward, we engaged a whole lot of our customers and asked them, what are the additional things you will want to see in Diamondxtra. We included education and rent for a year.

So, the individual who wins rent for a year gets N1 million immediately. So Season 10 was exciting. And I am sure you have seen some of the winners on social media and their comments and how excited they are.

And we made sure that the reward goes round the country, so it is not just a Lagos affair, it covers Nigeria. If you are in the north you are going to be hearing our radio jingle talking about Diamondxtra, so it cuts across. We have adverts, we have people talking about it in hausa and different languages, so it is a Nigerian thing.

Asked if Access bank customer have the opportunity of participating in the scheme? He has this to say,

Absolutely, it will be opened to customers from both Diamond and Access Bank. But of course, before the integration if as as Access Bank customers, if you want to participate you can open a Diamondxtra account and get on board. So, basically Diamondxtra is going to become bigger and of course we are going to throw in some additional sweeteners.

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