Diamond bank create incentive for youth through its swag account

In a bid to create incentives for youths across Nigeria, Diamond Bank Plc, one of the leading retail banks in Nigeria, has rewarded 10 winners from the Diamond Bank SWAG Pocket Money Campaign with a sum of ₦10,000 every month for a period of one year.

The draw which qualified 6,039 people before the final selection, was conducted at the Diamond Bank Head Office head office and attended by students and staffs.

The Pocket Money for-a-year campaign was borne out of the need to meet the life-stage needs of students and corps members by building a proposition around the activities they identify and associate with.

It also gives students and National Youth Service Corps, NYSC, members₦10,000 every month for a period of one year when they maintain a minimum amount of ₦3,000 savings in their Diamond SWAG Accounts.

Diamond SWAG, an acronym which stands for Student with a Goal, is an account strictly for tertiary institution students and those undergoing their NYSC to support them all through their stay in school and all through the year of service for corps members.

Speaking during the draw in Lagos, Chinenye Nwosu Manager for Diamond SWAG, pointed out that: “The SWAG initiative is targeted at bringing students young into the bank for them to learn about financial literacy, financial independence and how to manage their funds even as they grow”

According to her, “while in school, we expect that every student should study, be able to pass and become successful in life. But as a bank, we think that it is very important to teach them financial literacy at a young age; so we decided to bank them earlier.  They already have a bank that has been with them all the way and is ready to provide them with financial assistance and services in any way they need it.”

While shedding more light on the initiative; Nwosu explained that the bank has been able to develop a life-stage banking initiative. “For children, we have Diamond Future Account from 0-12 years; for teenagers, we have Full Teens from age 13-17 and when you are 18 and above –that is, for tertiary students and NYSC corps members, we have the Diamond SWAG. So, it’s like stage banking initiative, something that grows with you as you grow.”

Desmond Okon