Sterling Bank has given Nigerians a true Independence Day gift by abolishing Account Maintenance Fees (AMF) on all personal accounts.
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This bold move comes just months after the bank scrapped transfer fees on local online transactions in April 2025—further cementing its reputation as Nigeria’s most customer-first bank.
For years, account maintenance charges have quietly eaten into customers’ savings, with tier-1 banks alone raking in over ₦650 billion from such deductions in 2024. By eliminating the fees entirely, Sterling is rewriting the rules of banking in Nigeria, giving customers the freedom to keep more of their hard-earned money.
Explaining the decision, Abubakar Suleiman, Managing Director of Sterling Bank, said:
“Every fee we remove is one less barrier between our customers and true financial freedom. Just as we did when we removed transfer fees, this is about empowering people to grow their wealth without unnecessary deductions.”
Also speaking, Obinna Ukachukwu, Growth Executive for Consumer and Business Banking, noted:
“This is about building relationships built on trust, transparency, and long-term value—for our customers and for Sterling’s future.”
Positioning the move as a declaration of financial independence for millions of Nigerians, Sterling is reshaping the idea of what fair banking should look like. With the back-to-back removal of transfer fees and account maintenance charges, the bank is leading a new era of transparency and customer empowerment in the sector.
About Sterling Bank
Sterling Bank is a forward-thinking financial institution focused on innovation, financial inclusion, and purpose-driven leadership. Through its HEART strategy, the bank continues to champion digital transformation, fairness, and solutions that improve lives and communities across Nigeria.
