Sterling Bank Customers Allege Unauthorised Deductions and Service Delays
- Some Sterling Bank customers alleged they suffered unexplained charges and waited months to access their account statements
- A civil society group submitted a petition to the Central Bank of Nigeria in October 2025 over the bank's alleged treatment of customers
- Sterling Bank denied any fraudulent conduct, saying it acted within applicable agreements and banking procedures
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Some customers of Sterling Bank have raised fresh concerns over what they described as unauthorised deductions from their accounts, prolonged delays in obtaining account statements, and difficulties accessing basic banking services.
Mrs Obiageri Obiefule, a corporate account holder, alleged that a number of customers had suffered significant financial losses due to charges she described as questionable.
Source: Original
Another customer, Marvelous Okoro, said she waited several months to receive a bank statement after noticing withdrawal alerts on her account, having requested the document to verify the transactions in question.
**Earlier Disputes Involving Sterling Bank**
The complaints add to a series of previously reported disputes involving the bank. One ongoing case centres on Miden Systems Limited, which raised allegations over how its accounts were managed and deductions made. Sterling Bank has disputed these claims, arguing that the deductions were tied to a loan facility and repayment obligations. A police investigation report filed during proceedings in the Miden Systems matter also contained allegations related to account transactions and the supply of account statements, all of which remain part of the active legal dispute.
In an earlier case, Grant Properties Limited contested the sale of property pledged as collateral for a bank facility. A Lagos State High Court in 2017 nullified the sale of a 2.4321-hectare plot to UAC Property Development Company, though Sterling Bank disputed aspects of the ruling and indicated the matter was under appeal.
In October 2025, a group calling itself the Coalition of Civil Society Organizations Against Banks Fraudulent Practices and Customers Victimization submitted a petition to the Central Bank of Nigeria, raising concerns about Sterling Bank's conduct towards its customers.
**Sterling Bank's Position**
Sterling Bank denied all allegations of fraudulent conduct and said it had acted in line with applicable agreements and standard banking procedures. In relation to the Miden Systems dispute specifically, the bank maintained that deductions made on the account were connected to a loan repayment arrangement and a court-ordered settlement.
The most recent wave of complaints, however, focuses primarily on customer service failures, unexplained account charges, and restricted access to banking records.
Source: Legit.ng
