Banner Online News

For the second straight day, tension rose at Sterling Bank’s branch on Muhammadu Buhari Way, Central Business District, Abuja, as protesters from the Coalition of Civil Society Organizations Against Banks’ Fraudulent Practices and Customers’ Victimization occupied the premises, accusing the bank of unethical conduct and suppressing customers’ rights.

The demonstrators, who first besieged the bank on Wednesday, October 8, vowed to return after officials ignored their petition — and they did just that. By 10 a.m. Thursday, October 9, fourteen Coaster buses brought protesters from across the Federal Capital Territory, chanting slogans and demanding accountability from the bank.

Before confronting Sterling Bank, the group had earlier submitted a formal complaint to the Central Bank of Nigeria (CBN), calling for sweeping reforms in the banking sector.

Initially, the coalition had planned to move on to First Bank and GTBank on Thursday, but Sterling Bank’s refusal to receive their petition changed the plan. “We won’t leave until they listen,” one protest leader declared through a megaphone.

The standoff lasted more than two hours before a female bank official emerged shortly after noon to receive the petition — without giving her full name or designation.

The coalition said its action was part of a broader pushback against what it described as “suffocating banking charges, untraceable deductions, and systemic victimization of customers.” But the immediate trigger, they explained, was the long-running dispute between MIDEN Systems Ltd and Sterling Bank Plc over an alleged loan transaction that has left MIDEN unable to access its own funds.

According to the coalition, Sterling Bank has repeatedly failed to provide MIDEN with full transaction records, a breach that has crippled the company’s operations and cast doubt on the bank’s transparency.

Comrade Flora Elekwa, one of the coalition’s directors, said the group intervened after learning of the MIDEN–Sterling impasse from the media. “This is not just about one company,” she said. “It’s about countless Nigerians being shortchanged every day by banks that think they are untouchable.”

Elekwa alleged that more than $200 million is tied up in the disputed Sterling Bank transaction. “That kind of money can destroy a business — and lives,” she said.

Passersby gathered to watch the drama unfold. Some shared their own experiences with what they called “banking injustice.” One man claimed he lost ₦3 million from his account without explanation. Even a soldier in a passing military van reportedly gave the protesters a thumbs-up, saying, “This bank pays our salaries late.”

Despite the charged atmosphere, the protest remained peaceful. Police patrol teams monitored the scene and ensured there was no violence. Sterling Bank officials declined to comment publicly.

The coalition’s petition — signed by Dr. Sam Wilson (National Coordinator), Comrade Flora Elekwa (Director), and Lady Cecillia Bisong (National Organizing Secretary) — was finally acknowledged on Thursday afternoon.

With that, the protesters dispersed quietly, promising to continue their campaign until “banks stop treating Nigerians like helpless captives.”

For now, Sterling Bank has managed to avert further escalation — but other commercial banks, also accused of similar practices, may be next.