Sterling Bank Plc has unveiled Sterling CARES, a free banking service for non-governmental organisations (NGOs), to empower non-profit organisations across the country.
This was disclosed in a statement by the Chief Executive Officer of Sterling One Foundation, Mrs Olapeju Ibekwe, said in Lagos.
Ibekwe said the unveiling was in partnership between Sterling One Foundation and the Nigeria Network of NGOs (NNNGO), to mark World International Day of Charity.
According to her, the new product will allow NGOs to operate their corporate accounts without transaction charges, except for SMS notification charges.
She said that the International Day of Charity provides an excellent opportunity to publicly support the social impact and philanthropic activities of charitable institutions via fee-free solution.
Ibekwe said: “Sterling CARES is open only to NGOs, legal entities operating for a social benefit.
” It is introduced to help them keep costs down at this challenging time when their work and support is needed now more than ever by people with a low socio-economic background.
“The product is exclusive to non-profit organisations who are the primary foot soldiers working to attain the United Nations Sustainable Development Goals (SDG) for all.
“It is not open to religiously shaped institutions, cooperative societies, schools, and associations.
“We recognise that non-profits like us help lots of people who are struggling to make ends me.