Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings, has been named the Best Investment Bank in Nigeria for 2026 at the Global Banking and Finance Review Awards.

This recognition highlights the firm’s commitment to leadership and excellence in Nigeria’s investment banking sector.

The Global Banking and Finance Review, a leading financial publication, annually celebrates institutions that demonstrate quality, innovation, and contributions to the advancement of banking and financial services worldwide.

Now in its 16th edition, the awards honour organisations that uphold outstanding service standards, strategic execution, and industry leadership.

Stanbic IBTC Capital’s accolade reflects its strong dedication to delivering capital markets and financial advisory solutions for clients in both the public and private sectors.

The firm has made significant strides in facilitating groundbreaking transactions; offering market-leading expertise in equity, debt, and structured finance, while nurturing the growth ambitions of businesses and institutions across Nigeria.

Commenting on the award, Oladele Sotubo, Chief Executive, Stanbic IBTC Capital, expressed gratitude for the recognition, stating: “We are truly pleased to be acknowledged for our relentless pursuit of excellence in the investment banking arena. This honour reflects our commitment to hard work and further establishes the deep trust our clients have in our expertise and service. It further motivates us to maintain our dedication to exceptional service, cultivate impactful partnerships, and continue delivering innovative financial solutions that meet our clients’ aspirations.”

The award selection process involves an extensive evaluation of performance across critical metrics, including innovation, client service, financial health, and industry advancement. Receiving this honour underscores the global financial community’s confidence in Stanbic IBTC Capital as a reliable partner for investment banking services in Nigeria.

Eric Fajemisin, Executive Director, Corporate and Transaction Banking, Stanbic IBTC Bank, stated, “Receiving this esteemed acknowledgement from the Global Banking and Finance Review Awards underscores our commitment to driving innovation and excellence within Nigeria’s investment banking landscape. This accolade highlights the significant role our skilled team plays in fostering economic growth and stability. We are dedicated to delivering exceptional value to our clients, which not only supports their financial success but also contributes to the broader development of the nation’s financial ecosystem.”

As a member of Standard Bank Group – Africa’s largest banking entity by assets, Stanbic IBTC Capital is strategically positioned to provide clients with access to a diverse range of financial solutions, supported by the Group’s continental network, global expertise, and profound understanding of African markets.

This recognition solidifies Stanbic IBTC Capital’s reputation and also highlights its essential role in advancing Nigeria’s financial markets. The firm provides innovative financial solutions that promote economic growth, and it anticipates continued success in the years ahead.

L-R: Wole Adeniyi, Chief Executive, Stanbic IBTC Bank; Dr. Christian Ebeke, Resident Representative for Nigeria, International Monetary Fund (IMF); and Eric Fajemisin, Executive Director, Corporate & Transaction Banking, Stanbic IBTC Bank, during the Stanbic IBTC Economic Outlook Session held recently in Lagos, Nigeria.

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has recently held its annual Global Markets Economic Outlook forum, bringing together key stakeholders, industry leaders, and clients to assess global economic trends and Nigeria’s strategic position.

The event, themed ‘Global Economic Trends and Nigeria’s Position’, underscored the company’s commitment to providing insights that empower businesses to navigate a complex economic landscape.

The session featured presentations from the Bank’s economists and market analysts, who addressed key global developments impacting emerging markets.

The discussions also examined shifting monetary policy directions among major central banks, evolving commodity price dynamics, and the accelerating pace of technological transformation within the global banking and financial services sector – particularly the growing role of digital infrastructure, artificial intelligence, and innovation in shaping competitiveness and service delivery.

In a keynote address, Dr. Christian Ebeke, Resident Representative for Nigeria, International Monetary Fund (IMF), shed light on Nigeria’s optimistic outlook.

He highlighted several factors, including rising hydrocarbon prices, decreasing global financing costs, and tax reforms that took effect in January 2026, all of which could help the country surpass its revenue targets. He also pointed out the advantages associated with enhanced state policing.

Ebeke stated in his presentation that Nigeria should capitalise on immediate opportunities. This includes securing oil pipelines, improving electricity infrastructure, and shifting investment from government securities to the private sector.

On Nigeria’s position, the session focused on the country’s trade trajectory within global supply chains, opportunities for export diversification, and the role of foreign exchange stability in supporting investor confidence amid an unpredictable external environment.

Eric Fajemisin, Executive Director, Corporate & Transaction Banking, Stanbic IBTC Bank, said the forum reflects the bank’s continued commitment to keeping clients ahead of global shifts that have direct implications for their businesses.

“As global trade patterns continue to realign, it’s important that our clients understand not just what is happening, but what it means for their operations and growth strategies. This forum is part of our ongoing effort to translate global trends into actionable insights for businesses operating in Nigeria,” he said.

Mayokun Ajibade, Special Adviser on Financial Markets and Economic Policy to the Governor of the Central Bank of Nigeria, participated in a panel discussion during the event where he emphasised the necessity of addressing excessive liquidity in the banking system as a sustainable means of combating inflation.

Mayokun expressed the importance of a balanced approach, advocating for a focus on lowering inflation before pursuing interest rate reductions; noting that the Nigerian banking system has too much liquidity, therefore a decline in interest rates should not be expected without first addressing inflation.

The panellists also shared tailored solutions addressing challenges such as FX hedging, liquidity management, and trade finance. Experts from Stanbic IBTC Bank, including Toborena Enachwo and Wonuola Akanbi, engaged in dynamic discussions focusing on tools designed to help clients manage volatility effectively while optimising their cross-border operations.

Dare Otitoju, Head, Global Markets, Nigeria, Stanbic IBTC Bank, highlighted Nigeria’s growing relevance in global trade conversations, noting the country’s potential to strengthen its position as a trade and investment hub on the continent.

“Nigerians should look forward to a transition from stabilisation to selective growth. Global “higher for longer” rates indicate that capital will reward countries with policy consistency, which Nigeria is building, post-reforms. Key areas to watch include infrastructure funding, gas and manufacturing, and capital market opportunities as FX becomes more predictable. The Outlook message was clear: while 2026 may not be a boom year, prepared individuals and businesses will find real opportunities. That’s the plan we want Nigerians to leave with.”

Speaking on the growing intersection of technology and finance, Otitoju noted that digital transformation remains central to how the bank serves clients in a fast-changing environment.

“Across the banking industry globally, technology is no longer just an enabler; it is increasingly defining how institutions deliver value, manage risk, and build resilience. At Stanbic IBTC, we continue to invest in digital capabilities that allow us to respond to our clients’ needs with speed, precision, and insight, especially in times when global uncertainty demands faster, smarter decision-making,” he said.

The forum also created an opportunity for attendees to engage directly with the Bank’s research and advisory teams, with discussions extending to interest rate expectations, exchange rate outlook, and sector-specific opportunities across agriculture, manufacturing, and services.

Attendees noted the value of the session in helping them contextualise global developments within their own business planning.

As global economic conditions continue to evolve, Stanbic IBTC Bank reaffirmed its commitment to providing clients with insights, tools, and partnerships needed to navigate uncertainty and seize emerging opportunities, both within Nigeria and across its expanding role in global trade.

The attention of the Central Bank of Nigeria (CBN) has been drawn to reports of the rejection of the standard ₦100 banknote by some members of the public, businesses, and other stakeholders, apparently due to doubts about its continued legal tender status.

For the avoidance of doubt, the CBN hereby reiterates that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide.

The commemorative ₦100 banknote, which was introduced to mark Nigeria’s centenary, did not replace the existing standard ₦100 banknote.

The CBN strongly cautions individuals, businesses, financial institutions, and other economic agents against rejecting the standard ₦100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency.

The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach. The Bank remains committed to safeguarding the integrity of the Naira, ensuring confidence in all duly issued banknotes, and promoting smooth currency circulation across the country. Accordingly, members of the public are urged to accept and transact with all banknotes legally issued by the Central Bank of Nigeria.

For further clarification, members of the public are also advised to contact the CBN through its official communication channels.

Mr. Emmanuel Ovaga, the Chief Executive Officer (CEO) of PufferPay Limited will deliver the keynote paper at the 3^rd Business Journal Fintech & Financial Inclusion Roundtable 2026 scheduled for Friday, July 31, 2026 at Oriental Hotel, Lekki Road, Victoria Island, Lagos.

The theme of the Roundtable is: Fintech: Driving the Future of Digital Financial Ecosystem in Nigeria.

Mr. Emmanuel Ovaga is a graduate of Computer Engineering from the Enugu State University of Science and Technology, Enugu State.

He is a technology entrepreneur and business leader with a strong track record in building and scaling innovative digital and enterprise solutions across Africa.

As the CEO of PufferPay, he drives the company’s vision to deliver seamless, secure and inclusive payment solutions tailored for emerging markets.

He is also the Chief Executive Officer of Pufferfish Technology Limited, a Pan-African IT and consulting firm specialising in software development, data analytics and systems integration for both public and private sector clients.

Under his leadership, the company has established strategic partnerships with globally recognised technology providers, including industry leaders in enterprise computing and analytics.

Pufferfish Technologies Limited has in a few years of its existence, birthed PufferPay, a fintech payment business created to enhance financial inclusion and payments facilitation in Africa.

PufferPay is created with best-in-class technology for transaction speed and security that guarantees top-range service delivery to its growing customers.

Reacting to the development, the Publisher/Editor-in-Chief of Business Journal Media Group, Prince Cookey said:

“Mr. Emmanuel Ovaga represents the next generation of tech leaders in the fintech space in Nigeria and Africa. His laudable accomplishments as the CEO of PufferPay Limited deserve accolades. He has positioned PufferPay as a leading player in the digital financial ecosystem in Nigeria and emerging corporate tentacles across the continent. Accordingly, stakeholders attending the 3^rd Business Journal Fintech & Financial Inclusion Roundtable 2026 would be looking forward to a robust conversation on the State of the Fintech market today and tomorrow.”

The Special Guests of Honour include Dr. Aminu Maida, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) and Mr. Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) while Alhaji (Dr.) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the event.

The Guest of Honour is Mrs. Ekeoma Ezeibe, President/Chairman of Council, NCRIB.

Distinguished members of the Panel include:

• Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise (CPPE)
• Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc
• Jide Orimolade, Managing Director/CEO, Stanbic IBTC Insurance Limited
• Obioha Oti, President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN)
• Sarafadeen Fasasi, President, Association of Financial Inclusion Agents of Nigeria (AFIAN)
• Chidubem Emelumadu, Ecosystem Lead (Africa), Lisk

The revolutionary success story of Moniepoint, Opay, PalmPay, Flutterwave and others in the digital payment system in Nigeria represents a positive expansion of the financial services sector in the country.

With millions of Nigerians and businesses lacking access to basic financial services, the importance of Fintechs remain sacrosanct in achieving substantial level of Financial Inclusion and expanding the frontiers of the industry.

According to AI Overview, Fintechs in Nigeria have revolutionised the financial landscape by dramatically increasing access to banking services, driving, for example, a 20% increase in financial inclusion and helping to bring the banked population to roughly 63%. These firms have introduced faster, affordable digital payments, lending, and investment services, forcing traditional banks to adopt digital transformation.

On investment, AI Overview stated: “Fintechs in Nigeria dominate the tech landscape, securing 35% of total tech funding ($2 billion total) in 2024, with over 430 companies attracting roughly 36% of all African fintech investment. Despite global challenges, the sector remains highly resilient, driven by high demand, with significant deals including Moniepoint’s $110 million series C.” 

In January 2026, the Central Bank of Nigeria (CBN) granted national licences to Moniepoint, Opay etc, giving them the regulatory authority to operate across the 36 States of the Federation. The decision firmly underscores the great strides by Fintechs in driving Financial Inclusion and supporting sustainable economic growth in the country.

The 3^rd Business Journal Fintech & Financial Inclusion Roundtable 2026 aims to underscore the positive contribution of Fintechs in deepening Financial Inclusion, expanding access to financial services and contributing to economic growth in the country.

Expected participants at the Roundtable include regulators, operators from key sectors of the economy, media and members of the public.

Stanbic IBTC, a member of Standard Bank Group, partnered with the Katsina State Enterprise Development Agency (KASEDA) for its MSME Day celebration in Katsina, reaffirming the organisation’s commitment to supporting the growth and long-term success of micro, small and medium enterprises across Nigeria.

The event, organised by KASEDA as part of activities marking International MSME Day, brought together entrepreneurs, business owners, policymakers, development partners, and key stakeholders in the enterprise ecosystem to recognise the vital contribution of MSMEs to economic development, job creation, poverty reduction, innovation, and sustainable growth.

The celebration provided a platform for entrepreneurs to showcase their products and services, engage with relevant stakeholders, and gain insights into opportunities for business expansion, access to finance, market access, digital transformation, and capacity development.

It also reinforced the importance of collaboration between the public sector, private sector, and financial institutions in creating an enabling environment for enterprise growth.

Speaking on the partnership, Remy Osuagwu, Executive Director, Business and Commercial Banking, said Stanbic IBTC’s involvement reflects the organisation’s belief that MSMEs remain central to Nigeria’s economic transformation.

“At Stanbic IBTC, we recognise that MSMEs are not just small businesses; they are engines of employment, innovation, community development, and economic resilience. Our partnership with KASEDA for the MSME Day celebration in Katsina underscores our commitment to being a trusted partner to entrepreneurs, providing relevant financial solutions, advisory support, digital tools, and access to opportunities that help businesses grow sustainably.”

The partnership aligns with Stanbic IBTC Bank’s broader SME value proposition, which is designed to support entrepreneurs and growing businesses with tailored banking solutions, access to finance, digital banking platforms, trade support, and business advisory services.

According to Dr. Babangida Ruma, Director General KASEDA, Stanbic IBTC’s partnership further strengthens KASEDA’s objective of promoting enterprise development and building a more vibrant MSME ecosystem in Katsina State.

“We are pleased to partner with Stanbic IBTC on this important celebration of enterprise and entrepreneurship. Collaborations like this are critical to expanding opportunities for MSMEs, improving access to finance and markets, and helping small businesses become more competitive.”

Stanbic IBTC noted that the collaboration with KASEDA forms part of its continued drive to deepen engagement with entrepreneurs across Nigeria and deliver practical solutions that respond to the realities of small and medium-sized businesses.

“We understand that SMEs need more than banking solutions. They need partners who understand their journey, their ambitions, and their challenges. Through partnerships like this, Stanbic IBTC demonstrates its role as an SME-focused bank committed to helping Nigerian businesses move from possibility to progress,” Wole Adeniyi, Chief Executive, Stanbic IBTC Bank added.

Stanbic IBTC reaffirmed its commitment to supporting MSMEs through innovative banking products, strategic partnerships, financial literacy, enterprise development initiatives, and access to solutions that enable businesses to thrive in today’s competitive environment.

The financial solutions provider continues to offer practical support that help businesses manage operations efficiently, unlock growth opportunities, and build resilience in a dynamic economic environment.

The Federal Government has noted recent public commentary alleging that approximately two percent of GDP amounting to over ₦8 trillion was spent outside the approved budget based on references to the IMF Representative in Nigeria and the Fund’s 2026 Article IV Consultation Report.

These claims are incorrect and risk misleading the public regarding the government’s financial management.

For the avoidance of doubt, the Federal Government does not operate a “shadow budget” or expend public funds outside the constitutional and statutory framework established for public finance.

Under Sections 80 – 83 and 162 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), public funds may only be withdrawn and expended in accordance with the Constitution and laws enacted by the National Assembly.

Accordingly, Federal Government expenditure is incurred pursuant to duly enacted Appropriation Acts, Supplementary Appropriation Acts, and other statutory authorities enacted by the National Assembly.

In addition, multi-year capital projects which necessarily span multiple budgets are implemented in accordance with extant laws and approved provisions for capital rollovers where applicable.

These are recognised features of public financial management and should not be misconstrued as expenditures outside the budget.

It is inaccurate to suggest that trillions of naira have been secretly spent outside legislative approval. Such allegations should have identified the specific projects purportedly executed without appropriation or legal authority and present credible evidence in support of the claim. To be meaningful, assertions of this magnitude must be supported by verifiable facts rather than conjecture.

For the purpose of public education, it is important to distinguish between appropriation, expenditure authorisation, financing, and fiscal reporting.

Nigeria’s public finance framework contains several statutory transfers, first-line charges and intervention mechanisms established by Acts of the National Assembly. These include, among others:

– Statutory allocations and contributions to development commissions and other agencies created by law.

– Cost of collection and cost of administration retained by designated revenue-collecting agencies as expressly provided under relevant legislation.

– Capital expenditure approved in separate budgets for some agencies and the Federal Capital Territory by the National Assembly.

– Special interventions approved by law to address national priorities such as security, infrastructure, disaster response, and other strategic national programmes or emergencies.

– Debt service obligations and other statutory transfers that are authorised under applicable legislation.

These expenditures are neither secret nor illegal. They are established by law, disclosed in various fiscal reports, and subject to applicable oversight, audit and accountability mechanisms.

Their treatment for reporting purposes may differ from their presentation in the annual Appropriation Act, particularly under international statistical and reporting standards adopted by the Federal Government. Such classification differences should not be misrepresented as evidence of unlawful expenditure.

It is equally incorrect to suggest that the reported amount represents an increase in budget deficit. A fiscal deficit is determined by the relationship between total government revenues and total government expenditures.

Whether a capital project is financed through annual appropriations, supplementary appropriations, statutory transfers, approved intervention mechanisms, or other lawful financing arrangements does not, by itself, increase the fiscal deficit.

Indeed, the IMF’s observation relates primarily to the comprehensiveness, timing and presentation of fiscal reporting rather than the legality of expenditure. Like many countries, Nigeria continues to strengthen the alignment between budget presentation and international fiscal reporting standards as part of ongoing public financial management reforms. \

As a matter of fact, His Excellency, President Bola Ahmed Tinubu, GCFR had himself formally requested the National Assembly to end the practice of running multiple and overlapping budgets, and rather harmonise into a single, cohesive framework during his presentation of the 2026 Appropriation Bill to a joint session of the National Assembly on December 19, 2025.

The Federal Government remains firmly committed to prudent fiscal management, transparency and accountability. Recent reforms have significantly strengthened public financial management with ongoing improvements in budget assumptions and credibility, transparent revenue administration, digitalisation of government financial processes, and stronger treasury management. These reforms have been acknowledged by the IMF itself and other multilateral institutions, as well as international credit rating agencies, major media organisations and investors.

Public debate is both welcome and essential in a democratic society. However, it should be based on facts and an accurate understanding of Nigeria’s constitutional and fiscal framework. Mischaracterising technical observations as evidence of unlawful expenditure neither advances informed public discourse nor strengthens democratic accountability.

The Federal Government will continue to uphold the rule of law, maintain transparency in the management of public resources, and work with the National Assembly, oversight institutions, development partners and the Nigerian people to further strengthen fiscal governance in line with international best practices.

𝘚𝘪𝘨𝘯𝘦𝘥:

Taiwo Oyedele

Honourable Minister of Finance and Co-ordinating Minister of the Economy

Federal Republic of Nigeria

Managing Director, Global Head of TFFI and Regional Head, Trade & Lending, Middle East & Africa (MEA), Deutsche Bank, Anand Jha, presenting the award to Coverage Head, Corporate and Investment Bank, Ecobank Nigeria, Segun Anjorin, while other dignitaries look on. 

Ecobank Nigeria, a subsidiary of the leading pan-African financial services group Ecobank Group, has been awarded the Client Excellence Award by Deutsche Bank in recognition of its outstanding performance, operational excellence, and commitment to delivering superior Institutional Cash and Trade Finance services.

The award recognises Ecobank Nigeria’s consistent achievement of high standards in transaction processing, service delivery, operational efficiency, and collaboration within the global trade finance ecosystem. It further reinforces the Bank’s position as a leading financial institution providing innovative financial solutions that support corporates, financial institutions, and businesses engaged in domestic and international trade.

Receiving the award on behalf of Ecobank Nigeria, Segun Anjorin, Coverage Head, Corporate and Investment Bank, Ecobank Nigeria, expressed appreciation to Deutsche Bank for the recognition, noting that the award reflects the Bank’s unwavering commitment to excellence, innovation, and customer-centric service delivery.

“We are honoured to receive the Deutsche Bank Client Excellence Award. This recognition is a testament to our commitment to delivering seamless and innovative solutions that enable our clients to thrive in an increasingly interconnected global marketplace.”

“At Ecobank Nigeria, we remain focused on leveraging our extensive pan-African network, digital capabilities, and strategic partnerships to facilitate trade, improve transaction efficiency, and support economic growth across Nigeria and the African continent. We value our longstanding relationship with Deutsche Bank and look forward to further strengthening our collaboration in the years ahead,” Anjorin said.

Commenting on the award, Anand Jha, Managing Director, Global Head of TFFI and Regional Head, Trade & Lending, Middle East and Africa (MEA), Deutsche Bank, commended Ecobank Nigeria for its exceptional service standards and operational excellence.

“The Client Excellence Award recognises institutions that consistently demonstrate outstanding quality, efficiency, and reliability in transaction banking operations. Ecobank Nigeria distinguished itself through its commitment to excellence, strong operational controls, and customer-focused service delivery that has created measurable value for clients and counterparties alike.”

“We are pleased to recognise Ecobank Nigeria’s achievements and appreciate the strong partnership we have built over the years. We look forward to continuing our collaboration in supporting trade, payments, and financial flows that drive economic development across Africa and beyond,” Jha said.

The recognition underscores Ecobank Nigeria’s continued investment in world-class banking solutions and reinforces its role as a trusted financial partner for businesses seeking efficient cash management, trade finance, and cross-border banking services.

It also highlights the Bank’s commitment to supporting economic development by facilitating seamless trade and financial transactions across Africa and the global marketplace.

About Ecobank Nigeria

Ecobank Nigeria is a member of the Ecobank Group, the leading pan-African banking institution with operations in 33 African countries and international offices in London, Paris, Beijing, and Dubai.

With over 220 branches, more than 36,000 agency banking locations, and robust digital platforms, Ecobank delivers accessible, affordable, and instant banking services.

The Bank is strategically positioned to support pan-African trade, particularly under the African Continental Free Trade Area (AfCFTA).