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Sterling Bank Gifts Nigerians on Independence Day

*  No More Account Maintenance Fees

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.

The Managing Director of Sterling Bank, Abubakar Suleiman, 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.”

The Growth Executive for Consumer and Business Banking at Sterling Bank, Obinna Ukachukwu, 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.

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.  

​  

    • Hot Source

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    EDC, AGRA Partner to  Offer Agric SMEs Growth  Strategies

    EDC, AGRA Partner to  Offer Agric SMEs Growth  Strategies

    The Enterprise Development Centre (EDC) of Pan-Atlantic University in collaboration with Alliance for Green Revolution in Africa (AGRA) has created a platform titled: ‘Exclusive Networking Event’, which is capable of connecting agricultural small and medium enterprises (SMES)to key players in the sector.

    The SMEs include financial institutions, business development service providers, and government officialsm thereby discovering strategies to fund, grow, and scale their businesses.

    Also titled: Funding the Future: Powering Nigeria’s Agric-SMEs, the recent Lagos event brought together agricultural business stakeholders from around the country.

    Its goal was to connect them with key players in the Nigerian agriculture sector and provide strategies for funding, growing, and scaling their businesses. The two-day session featured insightful panel discussions, funding opportunities, strategies, and success stories from some of the most successful food and agricultural SMEs, and high-value networking with some financial institutions and investors.

    Reaffirming the EDC commitment towards supporting SMEs in the country, the Head of Alumni Relations and Support Services at EDC, Dr. Nnenna Ugwu, stressed that the Centre is committed to helping agric-SMEs in the country to find funders, grow, and scale in a manner that is required and attainable in other countries.

    According to him, “‎Today, we are utilising Business Development Service Providers (BDSPs) to support small businesses on the AGRA platform and explore how they can be funded. And when we mean funding, it is a funding that works, a funding for the future, and a sustainable funding.”

    Speaking about the partnership with AGRA, a sustainably growing African Food System, Ugwu said: “EDC is an umbrella body that commits totally its life in building, hand-holding, and training entrepreneurs and small businesses. We train them, we hand-hold them, and we try to create an environment for them to thrive; therefore, we are committed to doing everything for SMEs.

    “Therefore, entrepreneurs in the agric-space need to be able to grow and sustain their businesses. We don’t give money,” she emphasised, adding that: “But, of course, we train them to be able to receive that money. We try to give them a link to those who can offer them grants and seed funding.”

    The Country Director for AGRA, Dr. Rufus Idris, ‎ said: “‎We’re here today to see how to strengthen the ecosystem of Business Development Service Providers (BDSP), and also strengthen service provision to Agric SMEs. We’re trying to see how that space can work better for us, ensuring that there’s a strong connection between the SMEs that are trying to grow, expand, stabilise, or sustain their operations, and linking that to getting the right kind of support from the business support services providers.”

    He added: “And that way, we can ensure that Agric SMEs can actually tap into the skills required to build their own capacity internally and better strengthen their business for growth.”

    “‎This partnership is born out of the fact that AGRA is committed to transforming Africa’s food system. In Nigeria, we are committed to supporting the Nigerian government in transforming the country’s food system.”

    More importantly, he stressed that Nigeria aims to increase agricultural output, boost food production, and feed its growing population, while also reducing post-harvest losses.

    To do that, he stated that: “We cannot just focus on working with smallholder farmers alone. We also have to focus on the private sector players there. A lot of the agric SMEs are struggling with a lot of things, some access to finance, being able to tap into the new market, being able to improve on business efficiency and operation, energy support services, and cost within that space.”

    Meanwhile, one of the participants at the programme, Principal Consultant/CEO at Doctor Fish Agric Consult, Israel Yusuf, thanked EDC for the opportunity provided for those in the ecosystem to thrive.

    “I want to appreciate EDC for what they are doing. This is a timely intervention, bringing together the different actors in the value chain to have a conversation on the challenges with a focus on solutions. EDC is an enterprise-driven organisation, an enterprise-focused organisation that believes that every challenge has a solution,” he stated.

    ​  

    The Enterprise Development Centre (EDC) of Pan-Atlantic University in collaboration with Alliance for Green Revolution in Africa (AGRA) has created a platform titled: ‘Exclusive Networking Event’, which is capable of

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    Tinubu Commiserates With Kogi Over Ibaji Boat Mishap

    Tinubu Commiserates With Kogi Over Ibaji Boat Mishap

    * Charges water transportation operators to prioritise safety over financial considerations 

    Deji Elumoye in Abuja 

    President Bola Tinubu has condoled with the government and people of Kogi State over the sad incident of a boat accident at Ibaji Local Government, which occurred on Tuesday, leading to loss of lives.

    According to reports, the victims of the tragedy were traders travelling from Ibaji Local Government Area of Kogi State to Ilushi market in Edo State.

    The president, in a release issued on Wednesday by his Adviser on Information and Strategy, Bayo Onanuga, expressed profound sorrow at the unfortunate incident, describing it as shocking and unfortunate, especially as the victims were embarking on their legitimate quest to make a decent living.

    President Tinubu commended the first responders at the accident scene and urged federal, state and local emergency responders to step up their efforts to provide the needed assistance to survivors and victims.

    The president once again urged operators of water transportation to prioritise safety over financial considerations in their daily business.

    He prayed for the peaceful repose of the soul of the departed and quick recovery for the injured.

    ​  

    * Charges water transportation operators to prioritise safety over financial considerations  Deji Elumoye in Abuja  President Bola Tinubu has condoled with the government and people of Kogi State over the

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