LAGOS, NIGERIA – Sterling Bank has made a game-changing move in Nigeria’s banking landscape by eliminating transfer fees on its digital banking platform, OneBank. With this bold step, Sterling becomes the first major Nigerian bank to completely waive charges on customer transactions within its own app. The official announcement was made during a press conference held recently in Lagos, where top executives from the bank—including Maurice Igugu (Chief Marketing Officer), Obinna Ukachukwu (Growth Executive, Consumer and Business Banking Directorate), Uti Ellu (Group Head, Customer Experience Strategy), and Abubakar Suleiman (Managing Director/CEO)—gathered to unveil the groundbreaking initiative. “This is not a gimmick. This is the future—and it starts now,” said Abubakar Suleiman, CEO of Sterling Bank. “For too long, Nigerians have paid fees just to move their own money. We’re saying enough is enough.” Suleiman revealed that the decision is a direct result of the bank’s years-long digital transformation journey. Sterling has developed a robust infrastructure capable of supporting a vast user base, including a custom-built callback system that currently serves over five million customers and processes more than 180 million transactions. In addition, the bank has fully transitioned from a legacy European core banking system to a homegrown, scalable platform, hosted in a private cloud environment that can seamlessly support up to 50 times its existing customer base. “We’ve done the work. Now it’s time to pass those benefits on to the people,” Suleiman added. The Zero Transfer Fee Policy is available exclusively to users of OneBank, Sterling’s flagship digital app. As an added incentive, new customers who sign up before April 30 will receive a free AfriGo debit card and enjoy lifetime access to fee-free transfers. “This is more than a product feature—it’s an economic statement,” Suleiman said. “We’re standing with everyday Nigerians, small business owners, and anyone who’s tired of being nickel-and-dimed by the system.” Obinna Ukachukwu, who leads the Consumer and Business Banking Directorate, emphasized that the new policy is both a thank-you to long-time customers and a welcome mat to those seeking a better banking experience. “We owe this to the customers who believed in us and supported our transformation,” Ukachukwu said. “And for those joining us now, you’re family—so you get the same lifelong benefits.” He also hinted at what’s next for Sterling: new features and financial tools tailored to help both individuals and businesses improve financial wellbeing and drive economic growth. “We’re still covering some of the transaction costs, including fees paid to other banks. But we’re doing it because it’s the right thing to do. If more banks take this step, the entire industry—and the Nigerian people—will be better for it,” Ukachukwu concluded.