Sterling Bank Plc today proudly celebrates the first anniversary of its pioneering Zero Transfer Fees initiative, which has delivered over ₦1.6 billion in direct savings to customers across Nigeria.
Launched on April 1, 2025, the campaign eliminated transfer fees on all digital transactions including Sterling App, Internet Banking, USSD (*822#), and POS making everyday banking completely free for millions of Nigerians. In the past 12 months, customers have executed tens of millions of fee-free transfers, with the total value of waived fees reaching ₦1.6 billion. This amount represents real money returned to individuals, families, businesses, and SMEs that would otherwise have been deducted as charges.
“This milestone is more than a number it is a promise kept,” said Dr. Abubakar Suleiman, Managing Director/CEO of Sterling Bank. “From day one, we set out to redefine banking in Nigeria by removing unnecessary costs that erode our customers’ hard-earned money. One year on, ₦1.6 billion has gone back into the pockets of everyday Nigerians, empowering them to save, invest, and grow their businesses. This is banking that truly puts people first.”
The initiative has driven a significant surge in digital banking adoption. Internal data shows a 68% increase in monthly active digital users and a 142% rise in transaction volume since the zero-fee policy began. Customers have consistently praised the move for removing friction from routine payments, remittances, and business disbursements.
In addition to zero transfer fees, Sterling Bank has sustained complementary benefits such as free account maintenance, free debit card issuance and replacement, and zero charges on balance enquiries across all channels.
Commenting on the anniversary, the bank’s Chief Customer Experience Officer, Halima Balarabe, added: “Our customers told us they wanted simpler, cheaper banking. We listened and delivered not for a promotional window, but as a permanent feature of how we serve. The ₦1.6 billion returned is proof of our commitment to building lasting trust and shared prosperity.”
Sterling Bank remains committed to expanding financial inclusion and digital innovation. The bank plans to roll out additional customer-centric features in 2026, including enhanced zero-fee international remittances and AI-powered financial wellness tools.
Sterling Bank Plc is a full-service commercial bank licensed by the Central Bank of Nigeria. With a strong focus on innovation, sustainability, and customer-centric solutions, the bank serves millions of retail, SME, and corporate customers through a network of branches and a robust digital banking platform. Sterling Bank is listed on the Nigerian Exchange (NGX) and is part of the Sterling Financial Holdings Company Plc.