Sterling Bank on Wednesday, April 1, 2026, marked the first anniversary of its Zero Transfer Fees policy, announcing that more than ₦1.6 billion has been returned to customers since its launch on April 1, 2025.
The bank said the milestone highlights its commitment to delivering measurable value through digital banking.
The policy, implemented on the OneBank platform, removed charges on local electronic transfers, placing Sterling among the first major Nigerian lenders to waive online transaction fees.
Millions of users including individuals, small businesses and digital-first customers have benefited, driving increased adoption and transaction volumes.
Chief Executive Officer, Abubakar Suleiman, said the move reflects a deliberate shift toward customer-focused banking.
“We made a conscious decision to stop charging for the movement of money and focus on delivering real value,” he said, adding that the results over the past year validate both the principle and resilience of the bank’s model.
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Sterling attributed the policy’s sustainability to a multi-year digital transformation, including the transition from legacy systems to a proprietary core banking platform supported by a scalable private cloud.
Suleiman said the overhaul was designed to strengthen capacity, improve service delivery and support long-term growth.
Chief Marketing Officer, Donatus Okpako, described the anniversary as both a milestone and a pointer to future strategy.
“The ₦1.6 billion returned to customers represents real relief and a meaningful shift in value toward users,” he said, noting that the initiative challenges traditional assumptions about how banks generate revenue.
The bank added that the policy has deepened engagement with formal banking channels, supported financial inclusion and sparked broader industry conversations on pricing transparency.
Sterling said it will expand offerings across payments, savings and credit, maintaining a focus on improving financial outcomes.
As the Zero Transfer Fees policy enters its second year, the bank reaffirmed its commitment to a customer-first model driven by technology and inclusive growth.