Stanbic IBTC Celebrates 30 Years of Custody Services with NGX Closing Gong Ceremony
In a landmark event marking three decades of excellence, Stanbic IBTC recently commemorated 30 years of delivering custody services in Nigeria with a prestigious Closing Gong Ceremony at The Nigerian Exchange Limited (NGX). The milestone underscores the bank’s enduring influence in fostering investor confidence and advancing Nigeria’s capital market development.
NGX’s CEO, Jude Chiemeka, welcomed Stanbic IBTC to the exchange floor and applauded its steadfast commitment over the years. “Technology continues to be at the heart of our strategy,” Chiemeka stated, highlighting how NGX’s ongoing investment in cutting-edge technology has empowered over 2.6 million active retail investors to participate confidently in the market.
He emphasized the importance of a secure and vibrant marketplace: “A vibrant and secure marketplace remains essential to investor participation,” adding recognition for Stanbic IBTC’s pivotal role in strengthening market safety and building investor trust.
Wole Adeniyi, CEO of Stanbic IBTC Bank, expressed gratitude for the partnership with NGX. “We are thrilled to be here today, commemorating not just our journey, but also the remarkable progress made by the NGX,” he remarked. Adeniyi noted that the collaboration has driven innovation, product development, and thought leadership within Nigeria’s financial ecosystem. “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 affirmed.
Reflecting on the evolution of custody services, Babatunde Majiyagbe, CEO of Stanbic IBTC Nominees, recounted the transition from physical share certificates stored in fireproof vaults to today’s fully digital, dematerialised securities market. “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 explained. He underscored that despite technological advancements, the core commitment to service excellence has remained unwavering.
“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 added. Majiyagbe further emphasized that Stanbic IBTC Nominees’ role extends beyond attracting foreign investment; it embodies delivering value and ensuring market stability. “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,” he stated.
Bunmi Dayo-Olagunju, Deputy CEO of Stanbic IBTC Bank and Chairman of Stanbic IBTC Nominees, outlined an inspiring vision for the future. “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,” he said. He emphasized that with integrated services—including custody, settlement, capital raising, and advisory—Stanbic IBTC is not just a custodian but an essential infrastructure for Nigeria’s financial future. “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 added.
This historic event reaffirmed Stanbic IBTC’s leadership role in Nigeria’s financial services sector, emphasizing its unwavering commitment to innovation, trust, and sustainable capital market growth.