Sterling Bank account fees are removed on all personal accounts, empowering customers with financial freedom and keeping more of their hard-earned money

Sterling Bank account fees have been completely eliminated for all personal accounts, months after the bank removed transfer charges on local online transactions in April.

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The bank announced the move to coincide with Nigeria’s Independence Day, framing it as a step toward financial independence for millions of Nigerians.

By scrapping Account Maintenance Fees (AMF), Sterling aims to stop deductions that quietly erode customers’ balances, allowing them to retain and grow their wealth.

Managing Director ‎Abubakar Suleiman said: “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.

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.”

Obinna Ukachukwu, Growth Executive for Consumer and Business Banking, added: “This initiative is about building lasting relationships that fuel sustainable growth.”

The decision challenges a revenue model that has long cost Nigerian customers dearly. In 2024 alone, tier-1 banks collected over ₦650 billion from account maintenance and e-banking charges.

Sterling said this move rewrites Nigeria’s banking rulebook, amplifying its bold stance that customers deserve freedom from excessive deductions and the right to keep more of their hard-earned money.