Sterling Bank has surprised everyone in Nigeria by stopping all charges for local online money transfers. This big move puts customers first and shows a new way banks can treat people better.
When Sterling made the announcement on April 1st, many thought it was an April Fools’ joke. But the bank quickly made it clear—this was not a prank. The new rule started right away.
Sterling is now the first big bank in Nigeria to stop taking fees for regular digital money transfers. This has been a big issue for people who use banking apps every day.
Obinna Ukachukwu, who leads growth in the Consumer and Business Banking team, said, “You should not be charged to use your own money. This is not just about money—it’s about doing what’s right for our customers.”
He also said, “We may not be Nigeria’s biggest bank, but we are the boldest. We believe in Nigeria’s future, and we are proving that with action.”
With this change, Sterling Bank customers can now send money for free using the bank’s mobile app. This will save a lot of money, especially for small business owners and people who transfer money often.
Sterling has always tried to help people. For example, during the COVID-19 pandemic, the bank gave extra money to healthcare workers in public hospitals. Now, they continue to show they care by making banking fair and honest.
Many Nigerians are happy about the free transfer policy. Social media and WhatsApp groups were full of excited messages, with one saying, “This is not a joke! Sterling Bank shocked Nigeria today! My neighbor just sent N100k with no charges!”
People are now hoping other banks will follow Sterling’s lead and stop charging for transfers too.
This new step is part of Sterling’s bigger plan to give customers honest, easy, and helpful banking services.
Sterling Bank is a national commercial bank in Nigeria. It works to make a better future by investing in Health, Education, Agriculture, Renewable Energy, and Transportation. The bank is known for supporting its customers and bringing fresh ideas to the Nigerian banking world.
