By Agboola Aluko | GLiDE NEWS
I n a bold step that could redefine digital banking in Nigeria, Sterling Bank has officially scrapped all charges on local online transfers carried out via its mobile app—becoming the first major bank in the country to take such a customer-first position.
Announced on April 1st, many initially thought it was an April Fools’ joke. But Sterling Bank has confirmed the policy is real and already in effect, sparking excitement across social media and customer circles nationwide.
“We believe access to your own money shouldn’t come with a penalty,” said Obinna Ukachukwu, Growth Executive leading the Consumer and Business Banking Directorate. “This is more than a financial decision—it’s a values-based one. It reflects our commitment to making banking fair, inclusive, and truly customer-focused.”
Under the new policy, Sterling customers can now make unlimited free transfers for all local transactions via the bank’s mobile app—a move that could save frequent users thousands of naira monthly.
Ukachukwu added: “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.”
The announcement has reignited public discourse around bank fees in Nigeria, especially as digital banking adoption continues to grow. Online communities lit up within hours of the news, with one WhatsApp broadcast from a prayer group reading:
“Please my good people this is not a joke!!! Sterling Bank has just shocked Nigeria today o!! My neighbour Justina just transferred N100k and no charges!!! God bless Sterling Bank!!”
This isn't Sterling’s first act of bold leadership. During the COVID-19 pandemic, the bank gained recognition for providing supplemental payments to healthcare workers in public hospitals—an uncommon move among Nigerian banks at the time.
Sterling’s zero-fee policy is part of a broader mission to transform the banking experience through transparency, empathy, and innovation.
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