Sterling Bank has abolished account maintenance fees on all personal accounts, calling the move a “gift” to Nigerians as the country marked its 65th Independence Day on Wednesday. The announcement, which coincided with the independence celebrations, comes barely six months after the lender scrapped transfer fees on local online transactions in April 2025. The lender noted that account maintenance charges – criticised for eating into balances through small but steady deductions – generated over N650 billion for tier-1 banks in 2024 alone. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees,” Suleiman said. Sterling framed the move as a “declaration of financial independence” that will enable Nigerians to retain more of their earnings and push the industry toward greater fairness.