Sterling Bank Ends Account Maintenance Fees to Mark Independence Day

Celebrating symbolically as a “gift” to Nigerians, Sterling Bank has said that account maintenance fees will be removed on all personal accounts for the 65th Independence anniversary of the country.

This move is presented as a big step toward empowering customers more financially, following the bank’s prior elimination of local online transaction transfer fees in April 2025. 

The bank says the decision shows its long-term dedication to getting rid of needless fees that burden clients. Managing Director of Sterling Bank Abubakar Suleiman, emphasized the link between the most recent change, noting that every fee drop brings clients one step closer to financial independence. and the previous cancellation of transfer charges. 

The News Chronicle observed that the policy is also a daring statement in an industry in which Nigerian banks in total made over ₦650 billion in account upkeep. and e-banking fees only in 2024. Sterling Bank is indicating a desire to change its relationship with clients by eliminating one of the most consistent sources of income and so highlighting value above temporary profits. 

Emphasizing that the project is not solely about consumer and company banking’s growth executive, Obinna Ukachukwu, but also about developing greater trust, He referred to the elimination of fees as an investment in long-term relationships that might drive sustainable growth for both the bank and its consumers. He noted that transparency and equity continue to be the guiding compass. 

According to Sterling Bank, this most recent shift fits with its overall plan to be more customer-focused and inclusive in banking. The initial removal of transfer costs already helped people and small businesses doing online transactions, and the bank says its actions are motivated as much by financial concerns as by ideals. 

Access to one’s funds shouldn’t come with punishments, the bank has always maintained; hence, it hopes to defy the conventional paradigms of Nigerian banking by removing these fees.

By this action, Sterling is positioning itself as a forward-thinking, digitally innovative bank meant to match its expansion to the demands of daily Nigerians.