Sterling Bank has made a groundbreaking move by eliminating transfer charges on local transactions, aiming to create a more equitable banking experience for Nigerians. The question now arises: will other financial institutions follow this lead?

On April 1, Sterling Bank announced the removal of transfer fees for all local digital transactions, positioning itself as the first major bank in Nigeria to implement such a policy. Initially, the announcement faced skepticism, with many believing it to be an April Fools’ Day joke. However, Sterling has since reaffirmed the policy’s legitimacy and immediate implementation, signaling a significant evolution in the industry’s customer service approach.

Obinna Ukachukwu, the Growth Executive overseeing the Consumer and Business Banking Directorate, stated, “We believe that accessing your own funds should not incur a penalty. This decision transcends financial implications; it reflects our core values.”

With this new policy, Sterling customers can now make free transfers for all local transactions via the bank’s mobile app. This initiative is anticipated to yield considerable savings for individuals and small business owners who frequently engage in transfers.

“We may not be the largest bank in Nigeria, but we are certainly the most audacious,” Ukachukwu declared. “Sterling Bank is committed to the future of Nigeria, and we are backing our fellow citizens with more than just words.”

Sterling Bank has a history of prioritizing customer welfare, having previously offered financial assistance to healthcare workers during the COVID-19 pandemic. This latest initiative has garnered widespread public support, igniting conversations on social media and prompting calls for other banks to adopt similar practices.

“We take pride in leading this transformative change,” Ukachukwu concluded. “We hope to inspire others to rethink what customers truly require from their banks, not only in terms of services but also in values.”

On Wednesday, the Edo State Governorship Election Petition Tribunal, convened in Abuja, dismissed the Action Alliance’s (AA) petition aimed at overturning the election of Governor Monday Okpebholo.

The tribunal, led by Justice Wilfred Kpochi and comprising a three-member panel, determined that the petition, filed by AA and its National Chairman, Adekunle Rufai Omoaje, was without merit.

The tribunal concluded that the issues raised in the petition were pre-election matters, falling outside its jurisdiction to adjudicate.

The petitioners claimed that the Independent National Electoral Commission (INEC) had excluded their legitimate candidate from the governorship election held on September 21, 2024. They argued that, in contradiction to several court rulings, INEC recognized a candidate who had not been validly nominated by the party.

Furthermore, the petitioners contended that INEC’s failure to publish the name of their party’s rightful candidate constituted a significant violation of Section 134(1)(b) of the Electoral Act.

In addition to these claims, they asserted that Governor Okpebholo, representing the All Progressives Congress (APC), did not receive the majority of legitimate votes and that the election was tainted by corrupt practices.

As a result, they sought the annulment of the election; however, the tribunal panel denied their request on Wednesday.

The panel upheld all preliminary objections raised against the petition. The respondents, including INEC and Governor Okpebholo, argued that the National Chairman of the AA lacked the standing to file the action, as he did not participate in the gubernatorial election.

They also asserted that the petition was barred by statute, as it involved pre-election issues that exceeded the tribunal’s jurisdiction.

It is noteworthy that AA’s candidate, Mr. Tom Iseghhi-Okojie, withdrew from the race in favor of Governor Okpebholo just days before the election.