In a fresh push to grab a bigger slice of Nigeria’s massive remittance market, Sterling Bank has teamed up with global payments firm Thunes. Announced on January 6, 2026, this deal lets Nigerians abroad send money straight to Sterling accounts faster, cheaper, and more easily from Europe. It builds on earlier ties, like Sterling’s Switch platform linking with Thunes in 2025 for fee-free top-ups from the UK and EU.
Thunes’ Direct Global Network connects Sterling to bank accounts overseas, making transfers instant and clear on costs. New and current customers get seamless cross-border payments. Ayodeji Saba, Head of Switch & Remittances at Sterling, said: “This partnership reflects Sterling Bank’s deep commitment to making it easier for Nigerians abroad to send money home. With Thunes’ trusted technology, we’re giving our customers a faster, more reliable, and more affordable way.”
With about 17 million Nigerians living abroad, the need for quick links home is huge. Remittances hit over $20 billion in 2024 (around $20.93 billion per Central Bank of Nigeria data), up about 9% from 2023. This makes it a key target for banks and fintechs, bigger than foreign direct investment in many years.
Sterling, a mid-tier bank with market cap around ₦396 billion ($277 million), wants to stand out against mobile wallets and apps. Thunes has deals with others like MTN’s MoMo in 2025, showing hot competition for real-time inflows.
From a tech side, this uses Thunes’ network for direct bank-to-bank moves, cutting delays and fees that hurt old methods. As Nigeria goes more digital, such ties could pull more formal remittances, helping forex and families.
This deal starts 2026 strong for Nigerian fintech-banking mixes. With diaspora funds vital, expect more banks to chase similar upgrades. If you send money home, check if Sterling’s new options save you time and cash.
