Sterling Bank has removed transfer fees on all local online transactions, becoming the first major Nigerian bank to do so.
Sterling Bank announced this via a statement issued on Tuesday, April 1, 2025.
Sterling Bank’s Growth Executive for Consumer and Business Banking, Obinna Ukachukwu, said the decision to remove transfer fees was part of a values-driven approach to ensure banking remains fair and inclusive for all customers.
Ukachukwu stated: “We believe access to your own money shouldn’t come with a penalty.
CBN: Net forex reserves hit $23.11bn in 2024
“This is more than a financial decision – it’s about redefining banking to put customers first.”
The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.
Ukachukwu further emphasised that the bank’s decision is about more than just competitive strategy, saying: “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.
“Sterling Bank fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”
- Court sends 2 siblings to prison for kidnapping 23-year-old woman - December 22, 2025
- Obasa’s son sworn in as Agege LG chairman - December 22, 2025
- ‘I never meant to insult Christians’: Ini Edo apologises to CAN over movie title - December 22, 2025
