Sterling Bank is shaking up the Nigerian banking landscape once again — this time by eliminating Account Maintenance Fees (AMF) across all personal accounts.
This bold move comes just months after the bank made headlines in April 2025 by scrapping transfer fees on local online transactions. With this latest step, Sterling Bank is cementing its position as one of Nigeria’s most customer-focused and transparent financial institutions.
For years, account maintenance fees have quietly drained billions from customer accounts. In 2024 alone, Nigerian tier-1 banks collected over ₦650 billion in account maintenance and e-banking charges. By removing these fees entirely, Sterling is not just easing the financial burden on its customers — it’s challenging a deeply entrenched industry practice.
“Every fee we remove is one less barrier between our customers and true financial freedom,” said Abubakar Suleiman, Managing Director of Sterling Bank. “This was the rationale behind eliminating transfer fees in April, and it’s the same principle we uphold today.”
Backing this initiative, Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling Bank, added:
“This is about building long-term relationships rooted in transparency and trust. When we put customer value first, everyone wins — our customers and our business.”
The timing is symbolic. Announced around Nigeria’s Independence Day, the removal of AMF serves as Sterling’s declaration of financial independence for millions of Nigerians. It sends a clear message: banking shouldn’t quietly chip away at your savings. Instead, it should help you grow them.
With two major changes in under a year — zero transfer fees and now zero account maintenance charges — Sterling Bank continues to challenge the status quo and lead the way toward a fairer, more customer-friendly banking experience in Nigeria.
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