Sterling Bank has once again redefined the boundaries of customer-first banking in Nigeria by scrapping Account Maintenance Fees (AMF) across all personal accounts.

Just months after abolishing transfer fees on local online transactions in April 2025, the bank has dismantled yet another long-standing industry practice, cementing its role as a leading force for transparent, fair, and customer-focused banking.

This landmark decision strikes at the core of a revenue model that has long cost Nigerian customers billions. In 2024 alone, tier-1 banks earned more than ₦650 billion from account maintenance and e-banking charges. Sterling’s move rewrites the rules of Nigerian banking while amplifying its bold stance: customers deserve freedom from unnecessary deductions and the right to keep more of their hard-earned money.

 “Every fee we remove is one less barrier between our customers and true financial freedom. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees,”

— Abubakar Suleiman, Managing Director, Sterling Bank

Reinforcing this vision, Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling Bank, noted: “This initiative is about building lasting relationships that fuel sustainable growth. By putting transparency and customer value first, we are building a foundation that serves both our customers and Sterling’s future.”

As Nigeria marks another Independence Day, Sterling Bank frames this decision as a declaration of financial independence for millions of Nigerians. By eliminating deductions that silently erode balances, the bank is empowering customers to keep and grow their wealth while redefining true financial freedom.

With two groundbreaking moves in less than a year, the removal of transfer fees in April and now the elimination of account maintenance charges, Sterling Bank continues to challenge the status quo and champion a new era of fairness in Nigerian banking.

About Sterling Bank

Sterling Bank is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, and unwavering integrity. Guided by its HEART strategy, Health, Education, Agriculture, Renewable Energy, and Transportation, Sterling is a pioneer in digital banking and financial inclusion. Through purpose-driven leadership, the bank continues to unlock transformative outcomes for individuals, businesses, and society at large.