Sterling Bank Gifts Nigerians on Independence Day

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.  

​  

*  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

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The President made this call during nationwide broadcast to mark the country’s 65th independence anniversary on Wednesday.

Tinubu stated that Nigeria must be a nation of producers, not just consumers.

“Now, we must all turn on the taps of productivity, innovation, and enterprise, just as the Ministry of Interior has done with our travel passports, by quickening the processing. In this regard, I urge the sub-national entities to join us in nation-building.

“Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,” Tinubu said.

The President explained that though the economic reforms introduced by his administration, including the removal of the fuel subsidy, came with “temporary pains,” allowing Nigeria to descend into economic chaos or bankruptcy was not an option.

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The president addressed the nation as part of events to mark Nigeria’s 65th independence.

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Tinubu said: “The officers and men of our armed forces and other security agencies are working tirelessly and making significant sacrifices to keep us safe.

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