I feel really sad because I believe I and other innocent customers of Sterling Bank have been cheated by Sterling Bank, the one customer bank. Here is what happened.

I sent a message to their Twitter handle requesting Naira to USD exchange rate and monthly limit on their Naira MasterCard. They replied my twit through DM stating the Naira to dollar exchange rate is N385 with a $2000 monthly spending limit, but should also confirm with their Onebank app because the rate fluctuates.

So on Tuesday morning I decided to initiate a $998.62 transaction after confirming rate from their Onebank app which as at the time of the transaction was N385, but I got a shocker when I received an alert of the transaction that doesn't correspond to the advertised rate on the Onebank app. The 970usd transaction was settled at N445, a whopping N50 difference. This is totally wrong. I believe the N385 being shown on their Onebank app is deliberate, and its aim is to deceive their customers.

This deliberate misinformation with its wicked aim by Sterling Bank should stop immediately. CBN and other relevant agencies with oversight function should upped the responsibility so that innocent Nigerians will not be swindled by dubious corporate entities like Sterling Bank.

If you have fallen victim of Sterling Bank or any of these Nigerian banks please share your experience.