Removal of transfer charges on online transactions: Mazik Foundation for Consumer Rights commends Sterling Bank

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A nongovernmental consumer rights advocacy organisation- the Mazik Foundation for Consumer Rights (MFCR) has lauded Sterling bank for stopping transfer charges from all local transactions conducted through the bank's mobile app. This move according  to Mazik, is seen as a landmark decision that sets a new standard for customer-focused banking in Nigeria

This was contained in a press statement signed by the organisation's spokesman- Comrade Kingsley Kefe and made available to SOCIAL REPORTERS NEWS SERVICE in Asaba. 

"As of April 1, 2025, Sterling Bank customers can enjoy free transfers for all local transactions conducted via the bank's mobile app. This translates into significant savings, particularly for individuals and small business owners who make frequent daily transfers. 

"Mazik Foundation believes that this move will inspire other banks to follow suit and stop charging customers for online transfers.

"We therefore use this medium to call on the Central Bank  of Nigeria (CBN), and President Bola Tinubu to ease the burden on Nigerians by stopping hidden and exploitative charges the Nigerian Consumers face in the banking system", the statement said.

Mazik Foundation for Consumer Rights works at strengthening the efficacies of both providers and consumers of goods and services, through astute capacity building, incisive technical support, and skillful representation.




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