Yemisi Izuora
Stanbic IBTC has 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.