Another Nigerian bank set to share N130m to customers after Sterling Bank drops online charges

• Stanbic IBTC Bank intends to supply its clients with much than N130 cardinal during the 4th play of its savings campaign
• The slope reiterated its committedness to helping Nigerians cultivate a beardown redeeming civilization done their assorted slope accounts
• The inaugural encourages Nigerians to make a redeeming civilization by rewarding their dedication to the fiscal institution

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

In the 4th play of its savings promotion, Stanbic IBTC Bank plans to supply implicit N130 cardinal to its customers.

Customers of the slope volition request to simply adhd astatine slightest N10,000 to their slope accounts. Photo Credit: Contributor
Source: Getty Images

The slope reaffirmed its dedication to processing a robust savings civilization among Nigerians by announcing the commencement of Season 4 of its wildly fashionable Reward4Saving Promo.

In total, much than 1,900 winners from the past 3 seasons person won N318 million, and 874 fortunate winners volition person N130 cardinal this year.

Speaking astir the initiative, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, emphasised the bank’s dedication to fiscal empowerment, saying,

“We are committed to empowering our customers to execute their fiscal goals. The Reward4Saving Promo is our mode of saying ‘thank you’ to our loyal customers and encouraging them to make a savings culture.”

By rewarding their commitment, the promotion encourages Nigerians to cultivate a civilization of saving.

For astatine slightest 30 days, customers of the slope volition request to simply adhd astatine slightest N10,000 to their @ease wallet oregon caller oregon existing savings. Their chances of winning summation arsenic they prevention much multiples of N10,000.

Eligible participants indispensable support a minimum equilibrium of N10,000 successful their @ease Wallet oregon Stanbic IBTC Bank Savings Accounts for astatine slightest 30 days successful bid to beryllium automatically enrolled into the campaign. To participate, non-account holders are urged to unfastened Stanbic IBTC Bank Savings Accounts and support a equilibrium of N10,000.

To lend credence to the transparency of the winners’ enactment process successful the Reward4Saving Promo, the draws are usually supervised by representatives from the National Lottery Regulatory Commission and the Advertising Regulatory Council of Nigeria. The promo has won “The Most Transparent Consumer Promotion” Award 2 years successful a enactment astatine the Industry Awards.

This came arsenic Sterling Bank has announced that it volition no longer complaint transportation fees for section online transactions. The slope is besides encouraging different Nigerian banks to follow the aforesaid policy.

The announcement was archetypal made connected Tuesday, April 1, 2025, via X (formerly Twitter).

It tweeted: "NIGERIANS ARE NO FOOLS! Enough Is Enough. No much quiescent suffering. We’re doing our portion by cancelling Transfer Fees.

Let the different banks copy." In its tweet, Sterling Bank tagged First Bank, Fidelity Bank, UBA, Access Bank, GTBank and StanbicIBTC, calling them to bash the same.

Many radical initially thought it was an April Fool’s joke, but the slope aboriginal confirmed successful an authoritative connection that the zero-transfer-fee argumentation is existent and takes effect immediately.

Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, emphasised the bank’s dedication to fiscal empowerment, saying. Photo Credit: Contributor
Source: Getty Images

With this decision, Sterling Bank, which is simply a subsidiary of Sterling Financial Holding Company, becomes the archetypal large Nigerian slope to destruct these charges on integer transactions.

Under the caller policy, Sterling Bank customers tin transportation money for escaped utilizing the bank’s mobile app. This is expected to assistance individuals and tiny businesses prevention money, particularly those who transportation retired aggregate transactions daily.

Nigerians unfastened accounts arsenic slope announces 100% escaped charges

Legit.ng reported that erstwhile Aviation minister, Chief Osita Chidoka, is among the Nigerians anxious to unfastened a idiosyncratic relationship with Sterling Bank, pursuing the bank's determination to destruct charges connected section physics transactions.

The no-charge transactions use to customers sending to accounts of Sterling Bank and besides to different banks.

On April 1, Sterling Bank made headlines by announcing it would region each section transportation charges connected its OneBank platform.

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Source: Legit.ng