Diamond Bank is putting smiles on the faces of Nigeria by offering a first of its kind window at opportunities for customer to acquire choice Peugeot Cars without paying any interest on the principal.
The Diamond Bank finance of car offer available are Peugeot models 307.406 and 407.
These according to the bank are yuletide gilts. Having noted that this is coming at a period of shrinking industry lending, the bank says it remains committed to putting smiles on the face of Nigerians consumers desiring the best service at an affordable price.
Details of the offer, as released by the bank shows that customers have two options to choose from you can either make a down payment of 30 per cent and pay the balance over 18 months on a zero interest basis, or make as low as 15 per cent down payment and earn a N5,000 monthly cash bank which qualifies you for the Diamond saving xtra salary life rewards scheme. Whilst customer who choose Option I will earn the zero interest repayment plan, customers who purchase any of the cars with Option 2 will qualify for the savings xtra salary 4 life rewards in which they stand a chance to win income payment of N100,000 every month for the next 20 years, plus a host of other fantastic prizes. In addition, every customer will stand a chance to have their loans read in fact at a draw process in which one in every 50 customers will win.
According to Charles Udoh, head Corporate Communications, “we are offering customers an early Christmas gift by giving them an opportunity to acquire brand new Peugeot cars without having to worry about the burden of high interest repayments.
Few financial institutions are lending at this time, and with the extra benefits, added with our savings Xmas rewards scheme, the offer becomes even more compelling.
Mr Udo further stated that both customers and non-customers of Diamond Bank are eligible to participate provided they meet the lending requirements. Meanwhile two more customers of the bank emerged winners of “salary 4life “star prize in the Diamond saving, Xmas season 2 rewards draw for November which took place in Lagos. Jude Onyebuchi Duru, a customer from the Bank’s Idumota, Lagos Island branch and Sunday Christian Ntude of Grace Road, Eket branch, Akwa Ibom State, emerged the two latest “Salary 4 life “Star prize winners which entitles them to a monthly income of N100,000 thousand Naira for the next twenty years respectively.
In the same vein, 10 customers win N500,000 cash each, while 25 others won prizes including, motorcycles, LCD Television sets, Generators, Laptops and Air conditioners.
The latest salary 4life winners join four other customers, Grace Ihekerenma Iloabuchi (Ikwere road Port Harcourt branch), and Olatunde Adekunle Oketade (Le-ebanon road, Ibadan branch), as well as Amadi Cordelia Oluchi, (Nyannya Abuja branch), and Babangida Mailafiya, (Doma Road, Lafia branch) who won in the September and October draws respectively, making a total of 6 winners so far. 18 more salary 4life prizes will be given away before August 2010.
Addressing the audience, during the draw in Lagos, Mr Garry Marsh, head, Retail Banking, said that the savings xtra campaign had been resounding success so far and all the objectives behind savings xtra campaign have been achieved. According to him, “we are glad that we have come this far in the campaign, in the first phase of the campaign, we succeeded in transforming the lives of many people in such a manner that will remain evergreen in their lives and we hope to achieve the same thing in this second season of the campaign. This is the second draw in the second season and we are already doing wonderful thing, in the lives of our customers”.
Also speaking during the draw was John Anyanwu from KPMS, the overseer of the processes of the draw, stated that since the inception of the draw in 2008, Diamond Bank had remained consistent with the outlined rules and guidelines for the draw. He said,” there is absolute transparency in the draws and I can assure every body that all the results from the draws so far have remained credible and transparent.
I can equally testify that the draw held here today is in line with all the lad down procedures guiding this campaign. All accountholders of the Bank who are eligible to participate in this draw participated, and no customers was given undue advantage to emerge as a winner. All winners emerged from a free and fir draw process to day.”
Nigeria, 12 Others To Drive Global Trade By 2030 – Report
A trade research report has indicated that Nigeria and 12 other countries will be responsible for the driving of the global trade to the tune of $30 trillion by the year 2030.
The research, which was commissioned by Standard Chartered and prepared by PwC Singapore posited that Nigeria and 12 other countries would be responsible for driving global trade to $30tn by 2030.
According to the report sponsored by the Singaporean organisation, the global exports would be more than double from $17.4tn to $29.7tn over the next decade, while much of the growth would be driven by 13 markets.
It said Nigeria would be growing at an annual rate of 9.7 per cent, with about $112bn in exports by 2030, through key corridors such as India, Indonesia and Mainland China.
It also stated that Kenya, the second African nation on the list, would be growing by 7.6 per cent annually, with $10bn in exports by 2030 through key corridors namely, Pakistan, Uganda and the United States of America.
The list consists mostly of Asian countries with Mainland China contributing the most at $5.02tn by 2030 and growing at 7.1 per cent annually.
Other countries are Hong Kong ($939bn, 5.7 per cent), South Korea ($972bn, 7.1 per cent), and India ($564bn, 7.6 per cent).
Bangladesh, Singapore, United Arab Emirates, Indonesia, Malaysia, Vietnam, and Saudi Arabia also featured in the report.
The report is based on an analysis of historical trade data and projections until 2030, as well as insights from a survey of more than 500 C-suite and senior leaders in global companies.
According to the report, global trade will be reshaped by five key trends: the wider adoption of sustainable and fair-trade practices, a push for more inclusive participation, greater risk diversification, more digitisation and a rebalancing towards high-growth emerging markets.
It said almost 90 per cent of the corporate leaders surveyed agreed that these trends would be shaping the future of trade and would be forming part of their five to 10-year cross-border expansion strategies.
The research also found a significant trend towards the adoption of sustainable trade practices in response to climate concerns and a rising wave of conscious consumerism.
It said while almost 90 per cent of corporate leaders acknowledged the need to implement these practices across their supply chains, only 34 per cent ranked it as a ‘top three’ priority for execution over the next five to 10 years.
By: Corlins Walter
Currency In Circulation Rose By N129bn In Oct – CBN
The currency in circulation in the country rose by N129bn to N2.97tn in October from N2.84tn in September, according to the figures from the Central Bank of Nigeria (CBN).
The currency in circulation had fallen to N2.78tn in August from N2.81tn in July.
It stood at N2.74tn in June, N2.79tn in May, N2.79tn in April, N2.8tn in March, N2.78tn in February and N2.83tn in January.
The CBN said, “The currency in circulation increased by N465.47bn or 19.06 per cent to N2.91tn in 2020, compared with N2.44tn in 2019.
“In 2020, there were higher withdrawals by DMBs than deposits, due to the panic need to hold cash to deal with the emergencies and reduced banking hours due to restrictions to curb spread of the pandemic”.
The apex bank said to maintain public confidence and ensure integrity of circulated notes in the economy, it developed and unveiled a clean note policy and banknote fitness guidelines in 2018.
The guidelines outlined details of quarterly and yearly activities towards the achievement of this objective.
According to the CBN, the clean note policy encapsulates diverse currency management activities to preserve the integrity and maintain the quality of banknotes in circulation.
The policy provides that every newly printed and existing banknotes should conform to predefined standards before circulation and re-circulation in the economy.
Currency in circulation is defined as currency outside the vaults of the central bank – that is, all legal tender currency in the hands of the general public and in the vaults of the deposit money banks.
The CBN said it employed the “accounting/statistical/withdrawals and deposits approach” to compute the currency in circulation in the country.
It said this approach involved tracking the movements in currency in circulation on a transaction-by-transaction basis.
According to the CBN, for every withdrawal made by a DMB at one of CBN’s branches, an increase in CIC is recorded; and for every deposit made by a DMB at one of CBN’s branches, a decrease in CIC is recorded.
The transactions are all recorded in the CBN’s CIC account, and the balance on the account at any point in time represented the country’s currency in circulation.
CBN’s eNaira Records 600,000 Downloads Within One Month
Barely four weeks after its launch in October, the eNaira app of the Central Bank of Nigeria (CBN) has witnessed about 600,000 downloads.
The CBN Governor, Godwin Emefiele, who disclosed this in a statement at the weekend, said, “In less than four weeks since its launch, almost 600,000 downloads of the e-Naira application have taken place.
“Efforts are ongoing to encourage faster adoption of the e-Naira by Nigerians who do not have smart phones.
“The support of the financial industry will be critical in the ongoing deployment of the e-Naira and efforts are ongoing to encourage continued partnership between the CBN and stakeholders in the financial industry”.
The CBN governor also said that building a robust payment system that would provide cheap, efficient, and faster means of conducting payments for most Nigerians have always been the focus of the apex bank.
According to him, the growing pace of digitization globally makes it essential that they leverage on digital channels in fulfilling this objective.
Emefiele disclosed that total transaction volumes using digital channels were more than doubled between 2018 and 2020, as volumes rose from 1.3 billion to over 3.3 billion financial transactions in 2020.
He added that digital payment channels also helped to support continued conduct of business activities during the lockdown.
The CBN boss noted that the robust payment system has continued to evolve towards meeting the needs of households and businesses in Nigeria. This, according to him, reflects the confidence people have in the payment system.
He said that between 2015 and September 2021, about US$900 million has been invested in firms being run by Nigerian founders.
“Notwithstanding these gains, close to 36 per cent of adult Nigerians do not have access to financial services.
“Improving access to finance for individuals and businesses through digital channels can help to improve financial inclusion, lower the cost of transactions, and increase the flow of credit to households and businesses,’’ Emefiele added.
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