The Debt Management Office (DMO) has revealed the rationale behind appointing Stanbic IBTC as the government’s official stockbroker, citing its strong reputation, extensive financial services, and deep market reach.
Speaking at a virtual meeting in Abuja, DMO Director-General Ms. Patience Oniha emphasized that Stanbic IBTC’s diversified portfolio in retail banking, capital markets, and pensions made it the ideal candidate for the role.
“Their brand is well-known and respected among our target investors, and their past experience in this role further solidified their qualification,” Oniha stated.
She highlighted that the move aligns with the DMO’s strategy to deepen Nigeria’s capital market, particularly in the secondary market, and increase retail investor participation in government securities like FGN Bonds, Savings Bonds, and Sukuk.
“The DMO is the largest issuer of securities in the market, and while wholesale investors dominate, we want to ensure retail investors also benefit. The appointment of a government stockbroker will help create more awareness and accessibility for smaller investors,” she added.
Stanbic IBTC, being a registered stockbroker with the Securities and Exchange Commission (SEC) and the Nigerian Exchange Group, fulfills the compliance requirements while also supporting liquidity and participation in fixed-income securities.
The DMO assured that this move will enhance investor confidence and provide opportunities for both institutional and retail investors to engage more actively in government-backed securities.
