By Ayomide Otitoju
Sterling Bank has announced the removal of transfer fees for all local online transactions, becoming the first major Nigerian bank to implement a zero-transfer-fee policy.
The initiative, effective immediately, is expected to provide significant relief to individuals and small businesses that conduct frequent transactions. In a statement, the bank reaffirmed its commitment to customer-centric banking, emphasizing that the policy reflects its values-driven approach.
“We believe access to your own money shouldn’t come with a penalty,” said Obinna Ukachukwu, Sterling Bank’s Growth Executive for Consumer and Business Banking. “This is more than a financial decision—it’s about redefining banking to put customers first.”
Under the new policy, Sterling Bank customers will not incur charges for local transfers made via the bank’s mobile app. Ukachukwu stressed that the move is not merely a competitive strategy but a bold step toward reshaping banking in Nigeria.
“We’re not yet the biggest bank in Nigeria, but we’ve been the boldest. Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words,” he added.
