The move marks a turning point for the industry and reflects a deep-rooted
The bank is committed to building a future where banking services are affordable, convenient and tailored to the everyday needs of Nigerians.
“This is not a gimmick. This is the future. It starts now,” said Chief Abubakar Suleiman
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Sterling Bank’s executive officer at a press conference held at Lagos. “For years, Nigerians have had to pay fees to move their money. That ends now.” Suleiman explained that the decision is the result of years of digital transformation. The bank has developed a custom call-back system that serves more than 5 million customers and has processed more than 180 million transactions. The company has also fully migrated from its legacy European core to a dedicated, scalable platform and implemented a private cloud environment with a capacity
far exceeding current and future needs.
“We have developed a platform that can easily support 50 times our current customer base,” Suleiman added. “Now it’s time to pass on the benefits of this transformation to the people.”
The zero transfer fee policy applies only to users of OneBank, Sterling’s leading digital app. New customers who sign up before April 30 will also receive a free AfriGo debit card and free transfers for life.
This is more than just a product update. “This is an economic statement,” said Suleiman. “We stand with our customers, small business owners and all Nigerians who are tired of being ripped off by the system.”Obinna Ukachukwu, Growth Executive and Head of the Retail and Commercial Customer Council, said the policy was both a reward for loyal customers and an invitation to new ones. “We want to thank our customers who have remained loyal throughout our transformation journey,” said Ukachukwu. “We are also opening our doors to anyone who is willing to experience a different kind of banking. If you join us in April, you will become part of our family and enjoy the same benefits for life.” He added that Sterling will create more value in the coming months, giving people and businesses the tools to improve their financial well-being and boost economic growth. “We continue to absorb some of the transaction costs, including fees paid to other banks. But we do this because we believe it is the right thing to do. If others in the industry follow suit, then we all benefit,” Ukachukwu concluded.
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About Us
is a forward-thinking financial institution committed to changing lives through innovative solutions, exceptional service, unwavering integrity and a relentless focus on the HEART strategy. As a pioneer in digital banking and financial inclusion, Sterling continues to lead by example, demonstrating that purpose-driven leadership can deliver transformative results for individuals, businesses and society at large.
