Stanbic IBTC Holdings PLC’s entities have won the Best Asset/Fund Management Company and Best Private Banking Business in Wealth and Society West Africa at the Global Wealth and Society Awards West Africa 2019. The awards further validate Stanbic IBTC’s standing as a leading end-to-end financial services organisation with market leadership across segments, including wealth management, corporate and investment banking, pension fund administration, stockbroking, custody, trusteeship and others.
Stanbic IBTC Asset Management Limited won the Best Private Banking Business in Wealth and Society in West Africa, while Stanbic IBTC Pension Managers Limited picked the Best Asset/Fund Management Company in Wealth and Society also in the West Africa category.
The award ceremony was held in conjunction with a Roundtable Dialogue comprised of private bankers, impact investors, and related parties, at the Eko Hotel Lagos. These new accolades complement the numerous recognitions awarded to both companies in 2018.
“Being singled out among peers is gratifying and we are very pleased to have been selected for recognition as the Best Asset/Fund Management Company in West Africa. It is another prestigious award made possible by our esteemed and loyal customers. Our customers constantly challenge us through their patronage and positive feedback allowing us to push the envelope in innovative service to ensure they get full benefit of partnering with us,” Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, said.
On his part, Chief Executive, Stanbic IBTC Asset Management Limited, Mr. Oladele Sotubo, expressed the firm’s delight for being recognized by such a reputable and credible organisation from a pool that includes some of the industry giants in Africa. He said the awards further demonstrate Stanbic IBTC’s strength and desire to consistently provide best-in-class financial services solutions across all market segments by leveraging on the expertise and rich heritage of the Standard Bank Group, to which Stanbic IBTC Holdings belongs.
“These awards are testament to our capabilities and competences across all business segments, and speak to our unwavering dedication to consistently deliver innovative and robust solutions to our clients,” Sotubo stated.
The Global Wealth and Society programme opened in London in 2018, according to the promoters, out of the belief that wealth can be a force for good. As such we look for instances everywhere in the world where wealthy individuals, institutions and funds were targeted to make an impact in their local communities or the world at large.
The programme is predicated on the belief that the best financial institutions are able to understand and look after their clients’ personal aspirations as well as family and business interests through exceptional service, conducted with integrity, a deep empathy for its clients’ needs, and superior and timely product innovation resulting in the preservation and expansion of the clients’ wealth in their lifetime.
Organizers of the awards, Global Wealth and Society, said recipients of these awards underwent a stringent and comprehensive evaluation process and that the selection of Stanbic IBTC Asset Management Limited was based on three major factors which distinguished the firm among its peers and they are; its being a national pioneer in ethical financial products and alongside its Imaan fund based on Sharia principles, and its Ethical Fund is Nigeria’s first quoted socially responsible mutual fund and accounts for one third of the Ethical Funds Sector in Nigeria.
Stanbic IBTC Money Market Fund is the institution’s most profitable product as well as the largest open-ended mutual fund in Nigeria and Socially Responsible Investment Funds and its customer-centric strategy drove strong Assets Under Management (AUM) growth for firm.
Stanbic IBTC Pension Managers Limited, on the other hand is the country’s largest pension fund administrator, with a proven record of finance tracking and the protection of investments. The company’s Retiree Fund 4 was the best performing fund in its category for 2018, with a YTD return of 15.54% compared to the average of 12.66% for Retiree Fund 4 in Nigeria. The company currently manages the largest Retirement Savings Account Fund (RSA) in Nigeria and is consistently providing products and services that meet customer, statutory and regulatory requirements. In addition to this, the PFA has continued to attract new clients, recording strong growth in AUM and a jump in high net worth clients in 2018.
The Special Presidential Investigation Panel for the Recovery of Public Property says it will slam a charge of economic sabotage on Unity Bank if it refuses to return the over N7 billion owed the Federal Government.
The Head, Media and Communication of the Panel, Ms Lucie-Ann Laha, gave the warning in a statement in Abuja on Monday.
According to her, the sum represents 15,561,769.99 dollars and N1,488,455,810.90 being excess and arbitrary charges on accounts of some agencies of government by the bank before the implementation of Treasury Single Account (TSA) system.
She said that the agencies included Nigerian Ports Authority (NPA), Nigerian National Petroleum Corporation (NNPC), Nigeria Custom Service (NCS), the Kaduna Refinery and NIMASA.
“Unity Bank, which had agreed to this amount in February, has neither proffered a payment plan nor demonstrated good faith by actually initiating payments.
” Instead, the bank has severed all communications with the Panel in this regard.
“It may be recalled that the panel had commissioned a team of experts, including forensic auditors, to look into the operations of accounts of MDAs in commercial banks within the country prior to the commencement of TSA,” Laha said.
The spokesperson said that the exercise had unearthed some sharp practices and elicited indictments.
She added that some of the indicted banks had since agreed to a refund plan and in fact commenced payments.
“Unity Bank has, however, not made any move in this regard.
“The Panel is unrelenting in its resolve towards ensuring that economic saboteurs are brought to book and looted public property, including money, duly returned to government”.
Governor-Elect of Lagos State, Babajide Sanwo-Olu, has said he will reduce reckless driving in BRT by employing graduates as drivers and adding more dignity to the work.
Sanwo-Olu spoke Saturday during an interactive session with his classmates at the Executive Master of Business Administration class, University of Lagos, 1998/2000 set
Sanwo’s classmates asked Sanwo-Olu how he would address the recklessness of some of the BRT bus drivers.
He said ; Quote
“By the time we get the culture of the drivers’ right, the routes are coming up, by the time we finish the Abule-Egba/Iyana Ipaja/Ikeja route, it will boost the number of BRT (buses).”
Accordingly to Sanwo-Olu, Lagos could one day adopt technology to upgrade and model the BRT ticketing system after what is obtainable in the United Kingdom.
At the dinner, the governor-elect also explained his plans to eradicate gridlock around the cit.
He said his administration hoped to, by the middle of next year, complete the blue rail starting from Okokomaiko, through to Mile 2, Orile and Marina.
“The water will work, BRT buses will work and rail will work,” Sanwo-Olu added.
Isiaka Oyetola, Osun State governor, has declared that his administration has no money for capital projects on assumption of office.
Oyetola said that his administration had to seek the intervention of the Federal Ministry of Works for the construction of the long abandoned Iwo-Osogbo Road as one of his maiden capital projects which he embarked upon as soon as he assumed office about seven months ago.
He stated that many people were not aware of the secret for the success recorded on the constriction of the road attributing it to the intervention of the Federal Ministry of Works in Abuja.
Oyetola who spoke while delivering an address at Aragbiji Palace Iragbiji during a Ramadan Lecture, said his government had no money on assumption of office to embark on white elephant and capital intensive projects.
Governor Oyetola further said that his resolve was to promptly pay workers’ salary, adding that the era of ‘half salary’ in the state has finally gone.
Mr. Oyetola also used the occasion to reiterate his commitment to provision of quality health care services in the state at no cost at all for Osun citizenry.
He said, “Everything you need for your sound health is available at all the 332 Healthcare Centres across the state of Osun. Just go to the healthcare centre closest to you to access the healthcare services provided by the government. Others yet to be available would be provided.
“You don’t have to go to Asubiaro Hospital in Osogbo before you can access our healthcare services. The one nearest to you will be equipped with all the necessary health provisions.”
Governor Oyetola, however, sought for the continuation of support of Osun people for his government saying, “A governor is like a driver, who needs the cooperation of all onboard for a safe trip.”
In attendance at the 12th Annual Aragbiji Palace Ramadan Lecture which the Royal Father of the ancient town, Oba Abdul-Rasheed Ayotunde Olabomi, has never missed since he assumed the throne about twelve years ago were the wife of the Governor, Alhaja Kafayat Oyetola, Osun Central Senator-elect, Dr. Ajibola Bashir, and other political functionaries.
The Federal Government said on Monday that it has lined up several activities to mark June 12 as Nigeria’s first Democracy Day.
Though it said that May 29 still remains a public holiday in the country and that President Muhammadu Buhari will be sworn in on that day, it nevertheless said major activities of the event will be shifted to June 12.
￼Minister of Information and Culture, Lai Mohamed, who spoke at a press briefing in Abuja, said both days would be marked as public holiday this year.
But the minister said most of the activities had been moved to June 12, and that the events slated for May 29 would be low key.
￼He said world leaders will only attend the June 12 events.
The minister said the events celebrating June 12 as Democracy Day will kick off on Friday, June 7, with a Historical Exhibition in Arts, Pictures and Immersive Environment and run through June 12.
The event, he said, is slated to hold at the ICC.
It will be followed on Sunday, June 9th by a Youth Concert, Creative Industry and Entertainment Night also at the ICC.
He said, “On Monday, June 10th, there will be a Secondary Schools Exhibition/Panel Discussion at the ICC, and Tuesday, June 11th will feature three events: the PMB Oratorical Contest at the ICC, an Anti-corruption Summit at the Transcorp Hilton and a First Lady’s Commissioning Programme in Yola, Adamawa.
“Wednesday, June 12th will start off with a parade at the Eagle Square, and the Democracy Day programme will wrap up with a Dinner and Gala Night at the State House Conference Centre.”