The Nigerian Stock Exchange (NSE) has named Stanbic IBTC Stockbrokers Limited, a member of the Stanbic IBTC Group, the leading market operator in the Nigerian capital market. The stockbrokerage firm won the NSE CEO Award as the best dealing member firm on the Exchange in 2014. The award reinforces Stanbic IBTC Stockbrokers Limited as the largest stockbroking firm in Nigeria in both volume and value of total transactions handled in 2014. Market data for the year under review showed that Stanbic IBTC Stockbrokers Limited achieved a turnover in excess of 24bn units of shares, which represented 11.42 percent volume of shares valued at over N472bn or 17.55 percent to lead both the volume and value tables. Stanbic IBTC Stockbrokers was also the largest stock- broking house in Nigeria in 2013.
Read also: PEARL Awards tasks SEC, NSE on improving market confidence
The NSE CEO Award is an annual capital market award, in three sub-categories, that recognises excellence and exceptional performance by market operators in a given year. Promoters of the awards seek to reward outstanding contributions to the growth and development of the capital market and the Exchange. Oladele Sotubo, chief executive officer, Stanbic IBTC Stockbrokers Limited, said winning the NSE CEO award validates the appetite and growing capacity of the stock- broking firm, leveraging on the expertise of the Stanbic IBTC Group, to provide robust services in the capital market. He said the award and the recent listing on the Exchange of Stanbic IBTC Exchange Traded Fund (Stanbic IBTC ETF 30) are clear indications of the Stanbic IBTC Group’s focus on building a strong and vibrant stock market.
“We are delighted to be recognised for our efforts and credible performances in the Nigerian capital market. The award reflects our strong commitment to consistently deliver relevant, innovative and timely solutions to our ever growing local and foreign clientele,” Sotubo said. “Increasing our market share is a bold statement that gives our present and prospective clients more confidence to do business with us. It also means that we have to work harder to maintain that position as competition will continue to strive to take the lead from us,” he added.
