Friday, October 3, 2025
29.8 C
Lagos

Sterling Bank: No More Account Maintenance Fees to Celebrate Independence Day

 

Sterling Bank has once again redefined the boundaries of customer-first banking in Nigeria by scrapping Account Maintenance Fees (AMF) across all personal accounts.

Just months after abolishing transfer fees on local online transactions in April 2025, the bank has dismantled yet another long-standing industry practice, cementing its role as the nation’s leading force for transparent, fair, and customer-focused banking.

This decision cuts at the heart of a revenue model that has long cost Nigerian customers dearly. In 2024 alone, tier-1 banks raked in over ₦650 billion from account maintenance and e-banking charges.

Sterling’s move rewrites Nigeria’s banking rulebook while amplifying its bold stance: customers deserve freedom from too many deductions and the right to keep more of their hard-earned money.

Abubakar Suleiman, Managing Director of Sterling Bank, explained the principle driving this bold action: “Every fee we remove is one less barrier between our customers and true financial freedom. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees.”

Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling Bank, reinforced this position: “This initiative is about building lasting relationships that fuel sustainable growth.

We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.”

As Nigeria marks another Independence Day, Sterling Bank presents this decision as a declaration of financial independence for millions of Nigerians.

By freeing customers from deductions that silently erode their balances, Sterling is empowering them to keep and grow their wealth while redefining true financial freedom.

With two unprecedented moves in quick succession, the removal of transfer fees in April and now the elimination of account maintenance charges, Sterling Bank continues to challenge the status quo and champion a new era of fairness in Nigerian banking.

About Sterling Bank

Sterling Bank is a forward-thinking financial institution committed to transforming lives

through innovative solutions, exceptional service, unwavering integrity and a steadfast focus on its HEART strategy. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, proving that purpose-driven leadership can unlock transformative outcomes for individuals, businesses and society at large.

spot_img
spot_img

Hot this week

Polaris Bank, NCF Expand Tree Planting Drive to Lagos, Ogun, Kaduna States

Polaris Bank, in partnership with the Nigeria Conservation Foundation...

UN Scribe Appoints First African, Adedoyin Adeleke, Co-Chair of Independent Group of Scientists for 2027 Global Sustainable Development Report

Green Growth Africa proudly announces the appointment of its Executive Director,...

NCDMB Identifies Key Skill Areas for Capacity Building as AEW Holds in Cape Town

The Nigerian Content Development and Monitoring Board (NCDMB) on...

NCDMB: NOGICD Act Not Weakened by Presidential Orders on Oil Sect

The three Executive Orders issued by President Bola Ahmed...

Anambra Traditional Ruler, Ichie Martin Ezeosi, for Burial Oct 9

The Oko Community in Orumba North Local Government Area...

Topics

Ecobank Digital Channels: ‘Best Bet to Enjoy Safe, Convenient Digital Banking’

Ecobank advises its customers to utilise the bank’s digital...

Linkage Assurance Staff, Coker Aderonke-Faidat is CIIN’s Ambassador 2023/24

  L-R: Mr. Edwin Igbiti, President, Chartered Insurance Institute of Nigeria (CIIN)...

NSE Unveils Composition of New Market Indices July 1

The Nigerian Stock Exchange (NSE) will unveil the composition of new market indices on Wednesday, July 1, 2015. This follows the results of the bi-annual review for The NSE 30 and the five sectoral indices of The Exchange - The NSE Banking, The NSE Consumer Goods, The NSE Oil & Gas, The NSE Industrial and The NSE Insurance. The Nigerian bourse began publishing The NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed four sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. The sectoral indices comprise of the top 10 most capitalised and liquid companies in the Banking, Insurance and Food/Beverage & Tobacco (now Consumer Goods) sectors and the top five most capitalised and liquid companies in the Oil & Gas (Petroleum Marketing) sector.

AMCON Takes Over Assets of Pan Ocean Group over N240bn Debt

Hon. Justice A.M. Liman of the Federal High Court,...

FBN Holdings Reports N595bn Earnings in 2017

Mr. UK Eke Group Managing Director FBN Holdings Plc FBN Holdings Plc...

Nigeria, 7 Others Plan Special Micro-Insurance Policies

Nigeria and seven other African countries are considering some...

AIICO Insurance Grows GWP by 21.4% to N45.5bn in H1 2022 

AIICO Insurance Plc, foremost and most resilient insurance services...

Stanbic IBTC Unveils Campaign Promote *909# USSD Code

Stanbic IBTC Bank, a member of the Standard Bank...
spot_img

Related Articles

Popular Categories

spot_imgspot_img