Under the theme 30 Years of Trust, the gala event brought together the “who’s who” of the Nigerian capital market, including regulators, Pension Fund Administrators (PFAs), and institutional investors, to celebrate a legacy that began in 1996.

The Backbone of Nigeria’s Capital Market

While retail banking often takes the spotlight, the Nominees business serves as the critical infrastructure for the country’s institutional wealth.

Since its inception, Stanbic IBTC Nominees has evolved from a nascent unit into a market leader, managing the safekeeping and settlement of assets for the nation’s largest investors.

The Zero Tolerance Benchmark:

Babatunde Majiyagbe, CEO of Stanbic IBTC Nominees, highlighted the firm’s track record of zero tolerance for operational errors.

Service Scope: Beyond simple safekeeping, the firm provides settlement efficiency, accurate reporting, and critical regulatory compliance support for institutional clients.

Market Impact: The business is a pivotal partner for insurance companies, asset managers, and PFAs, ensuring the integrity of the multi-trillion naira pension industry.

Strategic Vision: Global Expertise meets Local Insight

Wole Adeniyi, chief executive of Stanbic IBTC Bank, emphasized that the custody business is not just a support function but a strategic pillar for the Group’s pan-African ambitions.

“The next 30 years will be about combining global expertise with local insight to create unparalleled value… supporting Nigeria’s capital market growth with infrastructure that meets global standards,” Adeniyi stated.

Jude Chiemeka, CEO of the Nigerian Exchange Limited (NGX), provided a client-side perspective, describing the relationship as transformative.

According to Chiemeka, the partnership provides the Exchange with the peace of mind required to manage large-scale market operations.

In the world of high-finance, custody is the ultimate trust business. The 30-year survival and growth of Stanbic IBTC Nominees reflects a successful navigation of Nigeria’s volatile regulatory cycles and technological shifts.

As Nigeria’s capital market looks toward more complex instruments, including derivatives and exchange-traded funds (ETFs), the role of a sophisticated custodian becomes even more vital.

Stanbic IBTC’s continued investment in cutting-edge technology suggests it is preparing to defend its market share against emerging fintech competitors who are increasingly eyeing the institutional asset servicing space.

This feat marks the 15th time the Bank has received this esteemed honour, reaffirming its commitment to providing innovative and efficient services to clients worldwide.

The award recognises Stanbic IBTC’s dedication to customer relations, service quality, competitive pricing and compliance with local regulations and practices.

The evaluation period for this award spanned from 01 January 2022 to 31 December 2022 and incorporated feedback from users of the Bank’s Sub-Custodian services.

Standard Bank Group, one of Africa’s largest banks and the parent company of Stanbic IBTC Holdings, also received the Best Sub-Custodian recognition in Botswana, Kenya, and Mozambique, demonstrating exceptional performance in several markets.

Babatunde Majiyagbe, Chief Executive, Stanbic IBTC Nominees, expressed his delight at receiving the award and attributed it to the organisation’s commitment to leveraging cutting-edge technology and delivering superior client satisfaction.

He expressed gratitude to clients for their trust and confidence in Stanbic IBTC Bank PLC and assured them of the Bank’s unwavering dedication to providing the best custodial and investor services on the continent.

Stanbic IBTC Bank PLC holds a prominent position in the Nigerian market and is a leading provider of financial services to individuals, businesses, and institutions in the country. The Bank actively contributes to Nigeria’s economic growth and development and has played a pivotal role in numerous landmark transactions in recent years.

With its team of highly skilled and experienced professionals, Stanbic IBTC Bank PLC is well-equipped to continue delivering exceptional services to its clients and spearhead innovation in Nigeria’s capital market and financial services sector.