As Nigeria celebrates its 65th Independence Day, Sterling Bank has taken a significant step by eliminating Account Maintenance Fees (AMF) on all personal accounts. This move follows the bank’s earlier removal of transfer charges on domestic online transactions in April 2025.
The bank emphasized that this change challenges a longstanding revenue approach that has often placed a financial burden on Nigerian customers.
In a statement shared with LEADERSHIP, Sterling Bank’s Managing Director, Abubakar Suleiman, highlighted the motivation behind this policy shift.
He stated, “Each fee we abolish removes an obstacle between our clients and genuine financial empowerment. This was the driving force behind waiving transfer fees earlier this year, and it remains the core reason for discontinuing account maintenance fees now.”
Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling Bank, added, “Our goal with this initiative is to foster enduring partnerships that support sustainable development. Prioritizing transparency and customer-centric value allows us to build a robust foundation benefiting both our clients and Sterling’s long-term vision.”
The bank frames this policy as a milestone in financial autonomy for millions of Nigerians. “By eliminating hidden charges that gradually diminish account balances, Sterling is enabling customers to preserve and enhance their wealth, thereby redefining what true financial freedom means,” the announcement concluded.
