7 January 2013

Nigeria: NSE Names Stanbic IBTC Leading Stockbroker

Stanbic IBTC Stockbrokers Limited, a subsidiary of Stanbic IBTC Holdings Plc, has been named the country's foremost stockbroking firm in 2012.

According to The Nigerian Stock Exchange (NSE), the top ten stockbrokers accounted for 66.09 per cent of the total value traded last year, with Stanbic IBTC Stockbrokers leading the table and accounting for 16.96 per cent or N223.3 billion of the total value of business conducted on the NSE during the year. The firm has been the leading stockbroking firm in Nigeria for the last eight years.

Chief Executive Officer of Stanbic IBTC Stockbrokers Limited, Mr. Oladele Sotubo, who expressed satisfaction with the company's performance during the period, said it confirms its outstanding work in the Nigerian capital market, part of which involved transactions in the 40 most capitalized stocks quoted on The Nigerian Stock Exchange.

He said the company will continue to work with regulators and operators to establish a world-class capital market in Nigeria by highlighting and implementing strategies that would help investors derive optimal value for their investments. He added that Stanbic IBTC Stockbrokers is capable of executing trades for clients not only in Nigeria, but also in other countries across the world including Kenya, Ghana, South Africa and as far away as New York, London, Dubai and Singapore, among many others.

"The firm looks forward to an enhanced performance in 2013 as the capital market is still in a recovery mode, with a significant number of listed equities still reflecting sound fundamentals," he stated.

Chief Executive Officer of Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha, stated that Stanbic IBTC will continue to spearhead efforts aimed at actualizing Nigeria's developmental aspirations.

Copyright © 2013 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.