Sterling Bank Celebrates Year of Zero Transfer Fees

Sterling Bank has celebrated the first anniversary of its zero transfer fee policy, which has resulted in over N1.6 billion directly returned to customers. This policy, initiated on April 1, 2025, eliminates transfer charges on its digital platform, OneBank.

Abubakar Suleiman, the Chief Executive Officer of Sterling Bank, stated that the decision to waive revenue from online transactions was a deliberate move to redefine the bank's value proposition and strengthen its relationship with customers. Over the past year, millions of customers, including individuals and small businesses, have benefited from fee-free transfers, contributing to increased transaction volumes and deeper financial inclusion.

The bank's commitment to this initiative is part of its multi-year digital transformation strategy, which aims to enhance customer experience and expand access to financial services. Donatu Okpako, Chief Marketing Officer of Sterling Bank, described the anniversary as a milestone that signals future initiatives aimed at challenging traditional banking assumptions and creating real value for customers.