As Nigerians mark 65th Independence Day, Sterling Bank has announced the scrapping of Account Maintenance Fees (AMF) across all personal accounts. This decision is coming months after abolishing transfer fees on local online transactions in April 2025.
The Bank said the decision cuts at the heart of a revenue model that has long cost Nigerian customers dearly.
In a statement made available to LEADERSHIP, Managing Director of Sterling Bank, Abubakar Suleiman explained the principle driving the action.
He said; “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.”
Obinna Ukachukwu, the bank’s Growth Executive for Consumer and Business Banking on his part said: “This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.”
The Bank presents the decision as a declaration of financial independence for millions of Nigerians. “By freeing customers from deductions that silently erode their balances, Sterling is empowering them to keep and grow their wealth while redefining true financial freedom,” the statement added.
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