By Chukwuma Umeorah
Access Bank has reintroduced its ‘Salary for Life’ scheme under the DiamondXtra Season 17 promo, revealing that it has spent N6.6 billion rewarding customers since the programme’s inception in 2008.
Speaking at the latest regional draw event in Lagos on Friday, Regional Sales Director, Access Bank, Olukemi Olayinka, disclosed that 165 customers received various rewards, including five individuals who won N100,000 each.
“Families have been blessed with this initiative. The bank has impacted over 33,000 families through the initiative,” Olayinka said.
The DiamondXtra scheme, which originated under the legacy Diamond Bank prior to its merger with Access Bank, has grown exponentially over the years. According to Olayinka, 131 customers are currently beneficiaries of the Salary for Life scheme, and three new winners will be added this season. Beneficiaries receive N200,000 monthly for 15 years.
“In addition, Access Bank plans to reward 12 customers with N1 million each and two with sport utility vehicles (SUVs) during the ongoing season,” she added.
Beyond financial rewards, the bank also supports small and medium-scale enterprises (SMEs) with business training and collateral-free loans. “We don’t stop at rewarding savings. We help our customers grow. We train them, guide them through business challenges, and provide loans based on turnover—some as high as N10 million,” Olayinka explained.
She emphasised that consistent customer rewards directly impact financial inclusion, as more customers are incentivised to use banking services. “We have been able to retain existing customers and, through this initiative, we have acquired a lot of new accounts,” she said.
Adaeze Ume, Unit Head, Consumer Banking, stated that the decision to reintroduce the Salary for Life scheme was based on customer votes. She noted that the bank collects customer preferences annually, and this year, 40 per cent voted in favour of the scheme, compared to previous years where other options, like cars, were more popular.
Ume added that the current season includes digital cluster draws. “Under this initiative, customers generate referral codes via the Access More app. Groups of 50 referred individuals can qualify for N100,000. The bank has allocated 150 slots for such groups, 30 of which are reserved for women under its ‘W’ initiative,” she explained.
Access Bank says DiamondXtra now has over five million account holders, with a target to add at least one million more before the year ends.
The programme, which aligns with the bank’s purpose to drive mass-market participation and social impact, continues to be replicated across regions in Nigeria including Lagos, Abuja, the South-West, and North-Central.
Leave a comment