Stanbic IBTC Holdings PLC, a member of Standard Bank Group, was commended by the Governing Council of the Chartered Institute of Stockbrokers (CIS) for the organisation’s support that has spanned several years.
The CIS Governing Council also accorded special recognition to Stanbic IBTC Holdings for the role played in the recent acquisition of a secretariat by the Institute.
A letter signed by Mr. Olatunde Amolegbe, President and Chairman of Council, CIS, and Mr. Josiah Akerewusi, Chief Executive and Registrar, CIS, read: “We wish to express the sincere appreciation and gratitude of the Governing Council of the Chartered Institute of Stockbrokers to Stanbic IBTC Holdings for the unwavering commitment you have shown towards the Institute over the years.”
The Chairman of Council and the Chief Executive further extolled Stanbic IBTC Holdings for the role played in the actualization of the Institute’s long-term goal to acquire a secretariat.
“We are glad to report that not only have we succeeded in acquiring a building in highbrow Ikoyi Lagos, but we have also undertaken and completed a massive renovation project to give the Institute a befitting Secretariat. This success story would not have been achieved without your generous donation of ₦25 million towards the building project,” the statement further read.
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Stanbic IBTC was honoured for its commitment to the Institute’s advancement and had its name emblemed on a Roll of Honour at a special ceremony that was held on Wednesday, 01 September 2021. A facility in the CIS Secretariat was also named the “Stanbic IBTC Membership Room”.
Speaking at the ceremony, Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, thanked the Governing Council of the CIS for the special recognition accorded to the Stanbic IBTC Management.
He said: “Being Nigeria’s leading full-service financial services organisation means our operations and transactions span the country’s financial ecosystem. The Nigerian capital market is an integral part of the country’s financial landscape, and the Chartered Institute of Stockbrokers can be described as the backbone of the capital market.
Therefore, we viewed it as an obligation to support the Institute in acquiring a befitting secretariat. We are also appreciative of the gesture to name one of the CIS facilities as the Stanbic IBTC Membership Room.”
He further highlighted the sterling performance of its subsidiary, Stanbic IBTC Stockbrokers Limited, and the role played in developing Nigeria’s capital market. “I would like to also mention that Stanbic IBTC Stockbrokers Limited, our stockbroking subsidiary, has for over a decade emerged as the leading stock brokerage firm in the Nigerian capital market.
As part of our commitment to the growth of the market and ensuring financial inclusion the firm recently gave individuals the opportunity to open stock brokerage accounts with zero naira.
We know this move will enhance further participation in the capital market as those who, for financial encumbrances, could hitherto not participate can now make investments. This shows our level of commitment in terms of the economic development of Nigerians as well as the country.”
