Global payments infrastructure provider Thunes has announced a landmark collaboration with Sterling Bank, one of Nigeria’s leading full-service commercial banks, to significantly improve cross-border payments for Nigerians living abroad. The partnership is designed to make it faster, simpler, and more transparent for diaspora Nigerians to send money home.
With an estimated 17 million Nigerians living and working overseas, remittances remain a critical financial lifeline for millions of households across the country. However, high costs, delays, and limited transparency have long challenged traditional cross-border payment channels. This new alliance aims to change that by leveraging Thunes’ Direct Global Network, a global payments infrastructure that enables real-time, account-to-account transfers across borders.
Through the collaboration, Sterling Bank will roll out enhanced cross-border payment capabilities across multiple European markets, enabling Nigerians abroad to fund Sterling Bank accounts directly from their foreign bank accounts. For customers, this translates into instant payments, improved reliability, and clearer visibility into transaction flows, helping families and businesses better manage their finances.
Recent research by Thunes underscores the importance of remittances to diaspora communities. The study found that 46% of diaspora consumers across Europe consider sending money home a regular and essential financial activity—on par with paying rent or utilities. This highlights the need for dependable and frictionless payment solutions that can support everyday financial commitments.
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Commenting on the partnership, Daniel Parreira, Senior Vice President, Sales – Africa at Thunes, described the collaboration as a major milestone in the company’s African expansion strategy. According to him, welcoming Sterling Bank onto the Direct Global Network reinforces trust in Thunes’ infrastructure across the continent and advances its mission to make global money movement instant, transparent, and accessible.
From Sterling Bank’s perspective, the partnership aligns closely with its focus on customer-centric innovation and diaspora banking. Ayodeji Saba, Head, Switch & Remittances at Sterling Bank, noted that the collaboration enables Nigerians abroad to send money home faster, more reliably, and at a lower cost. He emphasized that the solution offers a better experience for diaspora customers looking to support loved ones or manage financial obligations in Nigeria.
Beyond speed and convenience, the partnership also speaks to a broader agenda of financial inclusion and community empowerment. By improving access to efficient cross-border payments, Thunes and Sterling Bank are helping users maintain better financial oversight, reduce transaction friction, and integrate more seamlessly into the global financial system.
For Thunes, the alliance supports its long-term goal of onboarding the next billion users in emerging markets into the global economy. For Sterling Bank, it strengthens its position as a forward-looking Nigerian bank committed to serving the evolving needs of its diaspora community. Together, the two companies are setting a new benchmark for cross-border payments into Nigeria—one built on speed, trust, and accessibility.
