Sterling Bank has abolished account maintenance fees on all personal accounts, marking its second major customer-focused policy shift in six months. A statement released by Sterling described the new policy as a move to give Nigerians “financial independence” by cutting costs that have long burdened account holders. The bank noted that in 2024, tier-1 banks earned over ₦650 billion from account maintenance and e-banking charges. The removal of account maintenance fees follows long-standing complaints from Nigerians, who have described the charges as small but persistent deductions that significantly affect balances over time. Sterling framed the move as a declaration of financial independence, underscoring its intention to lead in customer-centered banking.