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Sterling Bank gifts Nigerians on Independence Day

...No more account maintenance fees

NM Partners by NM Partners
October 1, 2025
in Companies, Company News, Corporate Updates
Sterling Bank concludes core application migration, leads the way for African Banking
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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 N650 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.

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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.


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Tags: Sterling Bank Plc
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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