By Michael Eboh

The appointment of Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings Plc as stockbroker to the Federal Government of Nigeria will translate into increased retail investors’ participation in primary and secondary markets of Federal Government bonds and ultimately help to deepen Nigeria’s bond market.

Chief Executive Officer of Stanbic IBTC Holdings, Mrs. Sola David-Borha, said a major step towards attaining this goal is to specifically address the peculiar requirements of the retail segment, part of which includes undertaking focused awareness campaigns to ensure that the investing public is well informed about the workings of the bond markets.

Speaking at the formal signing ceremony of the agreement between the stockbroking firm and the Debt Management Office in Abuja, David-Borha reiterated the company’s long-term commitment to facilitating stability in Nigeria’s capital market, and the financial services industry in general.

“We identify and align ourselves completely with the strategic objective of this appointment. We know that it is a great responsibility and we are committed to increasing the pool of investors by addressing the retail segment and also to ensuring that the investing public is properly educated to understand the workings of the markets,” she said. She added that the company’s activities will be guided by good corporate governance, transparency and global best practices.

Coming on the heel of the organisation’s appointment as market maker by The Nigerian Stock Exchange, David-Borha said the new appointment is a testament to the Stanbic IBTC group’s leadership in the various market segments.

In its capacity as FGN broker, the company will provide prices for FGN bonds on the floor of The Nigerian Stock Exchange and also act as an intermediary between the Debt Management Office, The Nigerian Stock Exchange, stockbrokers and other market players to ensure that all activities in FGN bonds and other FGN securities that may be listed in future are effected smoothly.