Stanbic IBTC recently celebrated 30 years of providing custody services
in Nigeria with a Closing Gong ceremony at The Nigerian Exchange Limited
(NGX). The milestone reflects the institution’s longstanding
contribution to investor confidence and the continued development of
Nigeria’s capital market.
In his opening remarks, Jude Chiemeka, Chief Executive Officer, NGX,
welcomed Stanbic IBTC to The Exchange and commended its three decades of
custody services. He highlighted NGX’s continued investment in
technology, which he said has enabled over 2.6 million active retail
investors to trade on the platform.
“Technology continues to be at the heart of our strategy,” Chiemeka
said; noting that a vibrant and secure marketplace remains essential to
investor participation. He also recognised Stanbic IBTC’s role in
strengthening investor confidence and enhancing market safety.
Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, thanked NGX for its
continued partnership. “We are thrilled to be here today,
commemorating not just our journey, but also the remarkable progress
made by the NGX,” he said. He noted that the collaboration between the
two institutions has continued to drive innovation, product development
and thought leadership across the industry. “We are dedicated to
raising standards within the industry as part of Standard Bank Group.
Our focus remains driving the growth and development of Nigeria’s
capital market. Indeed, Nigeria is our home and we drive her growth. ”
he added.
Babatunde Majiyagbe, Chief Executive, Stanbic IBTC Nominees, reflected
on the evolution of the business from the era of physical share
certificates stored in fireproof vaults to today’s fully
dematerialised market, where securities are held electronically.
“We started with holding custody of physical certificates, investing
in vaults with fire and dust protection, so those certificates could be
presented when needed,” Majiyagbe recalled; noting that while the
market has evolved significantly, the commitment to service excellence
has remained unchanged.
“What has endeared a lot of investors to the market is that they are
dealing with a reputable organisation like ours. We are high on good
governance, and high on technology, making the process of investment in
Nigeria easier,” he said.
Majiyagbe added that Stanbic IBTC Nominees’ role goes beyond just
attracting foreign portfolio investment (FPI) and capital.
“For us, it’s not just about FPI; but also about the value we have
delivered over 30 years. Stanbic IBTC Nominees continue to be the eyes
and ears of foreign and domestic investors in our market.” Majiyagbe
added that the firm has also supported the development of market rules
and safeguards, noting: “We have, over the years, advocated for
growth, change, transformation and stability in our capability to
provide services to domestic and foreign portfolio investors
continuously.”
Bunmi Dayo-Olagunju, Deputy Chief Executive, Stanbic IBTC Bank and
Chairman Stanbic IBTC Nominees, said the next phase of growth will build
on the institution’s legacy of trust.
“For 30 years, we’ve delivered growth, security, and client
confidence. That’s why investors have stayed with us and why new
business keeps coming. Our target for this new phase of growth is
simple: build on that trust and ride the acceleration in Nigeria’s
economic activity. With custody, settlement, capital raise, and advisory
integrated on one platform, we’re not just a custodian. We’re an
infrastructure. We look forward to building on that trust for
generations to come, serving both local and international clients.
Hopefully, we’ll have another 100 years of maintaining that trust with
local and international markets,” Dayo-Olagunju said.
The ceremony reinforced Stanbic IBTC’s role in Nigeria’s financial
services sector and its continued commitment to innovation, trust, and
sustainable capital market growth.
