Why was Stanbic IBTC fined by SEC Nigeria?

Stanbic IBTC Capital Limited was fined ₦50.145 million ($34,490) by the Securities and Exchange Commission (SEC) for using digital distribution channels during GTCO’s public offer without prior approval.

How much was the Stanbic IBTC fine?

The fine was ₦50.145 million, though Stanbic initially misreported it as ₦50.15 billion due to a clerical error. The mistake was later corrected.

What is a digital public offer in Nigeria?

A digital public offer is a capital raise conducted through apps, online platforms, and mobile channels. It improves accessibility and allows more retail investors to participate in Nigeria’s capital markets.

Why is SEC approval important for public offers?

SEC approval ensures investor protection, transparency, and fairness in Nigeria’s capital markets. It is a mandatory step for both traditional and digital public offers.

Will the Stanbic fine slow down digitalisation in Nigeria’s capital markets?

No. Digitalisation is growing rapidly, with retail investments through apps reaching ₦516.50 billion in July 2025. The fine reinforces the need for compliance but will not derail the digital drive.

Startups

Startups

Fluidize Emerges from Y Combinator, Revolutionizing R&D with AI-Powered Orchestration

Villpress Insider

Artificial Intelligent Startups

Oki AI Launches Knowledge Management Platform to Empower Growing Companies

Villpress Insider

Startups

Juxta Unveils GPS Alternative with Zero Hardware, Universal Coverage

Track anything, anywhere, no hardware, no limits, just pure location intelligence.

Villpress Insider

4 Min Read

Villpress For Business

Grow, expand and leverage your business..

In This Issues

Artificial Intelligent Startups

Dash AI: The “ChatGPT with Hands” Revolutionizing Knowledge Work Automation

Dash AI, a Y Combinator (YC S25) company, is launching an innovative AI agent designed to autonomously complete tasks by…

Villpress Insider

Startups

Stably AI Launches AI Agent to Automate and Self-Heal Playwright Tests, Transforming Software QA

Stably AI, a cutting-edge software testing startup, today announced the launch of its groundbreaking AI-powered testing agent that automatically writes,…

Villpress Insider