For the second consecutive year, STL Trustees has emerged “Trustees of the Year” at the annual Businessday Banks’ And Other Financial Institutions (BAFI) Awards held in Lagos recently.
Now in its seventh edition, BAFI Awards are universally recognised as the benchmark of excellence in Nigeria’s financial services industry. “BAFI Awards seek to identify and celebrate the financial institutions and leaders that have excelled across a number of areas, including financial performance, shareholder value creation, brand value growth, corporate governance, sustainability, employment of new technology,compliance,innovation, and contribution to the industry’s overall growth,” Frank Aigbogun, publisher, Businessday Media, said in his welcome address at the event.
Collecting the award on behalf of STL Trustees, Funmi Ekundayo, the company’s managing director/ CEO, said: “It is a great honour to be recognized by Businessday Media Limited as the Trustees of the year. Last year, when the award to recognize leading financial institutions in the non-banking financial sector was introduced, STL Trustees won the maiden edition of the Trustees of the year award and we are happy to win it again. We thank our clients for the trust they have reposed in us over the years and we salute every other Stakeholder who contributes their quota towards building a virile and respected Brand that continues to innovate its business model with a view to providing unparalleled trusteeship services to its clients. We owe this recognition to them.”
Nominationsforthebafiawards go through a rigorous review process before finalists are selected, hence to be recognised as Trustees of the year for the second consecutive time by there view committee is indeed a great honour for STL Trustees, she said.
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Licensed and authorised by the Securities and Exchange Commission as Trustees and Funds/portfolio Managers over two decades ago, STL Trustees has grown to become a model in the industry due to its expertise and culture of delivering innovative Trust solutions with speed.
STL has consistently played a pivotal role in bridging infrastructural gaps in Nigeria through its active participation in almost all the debt Capital Market Issuances in the past 10 years, which were all geared towards infrastructural development at both the National and State levels. The company is a delegate Trustee to the first Sukuk issued in the Nigerian Capital Market, the State of Osun Sukuk Al-ijara which was issued by the government of the Osun State to finance the construction of modern elementary, middle and high schools in the state.
Among several other Sub-national, Sovereign-backed, Sub-sovereign-backed and corporate Debt Issuance transactions, STL also acts as Delegate Trustee to the first Sovereign Sukuk to be issued in Nigeria; the N100B FGN Road Sukuk 1 as well as the subsequent Issuance, the N100B FGN Road Sukuk II. These instruments were issued by the Federal Government of Nigeria to fund the construction and rehabilitation of some roads across the six geo-political zones in the country.
Speaking on the operating culture at STL Trustees, Ekundayo reiterated that the Firm’s core values are Integrity, Professionalism, Commitment and Innovation. Armed with these corporate values, the Company strives to consistently deliver trust solutions that are guaranteed to meet the needs of both its corporate and individual clients on a continuously satisfactory basis.
