Abuja, Nigeria – The Securities and Exchange Commission (SEC) don drop fine of N50.145 million on Stanbic IBTC Capital Limited, wahala wey surround Guaranty Trust Holding Company Plc’s (GTCO Plc) public share offer. E get as e be!
So, according to wetin Stanbic IBTC talk for their half-year 2025 financial report, dem bad guys sabi as Lead Issuing House. But some other people don dey talk say the fine be N50.1 billion before e turn N50.1 million. Na serious conversion wahala be dat o! (No, no, we no go turn N50 million to N50 billion like say na currency exchange!)
SEC talk say Stanbic IBTC no gree carry out dem homework. Dem no collect wetin dem dey call “No Objection” approval before dem use internet banking and mobile apps to receive applications during the public offer. This na big deal for Nigeria because SEC dey require say dem issuing houses go first get approval before dem dey use these digital platforms. If dem no do am right, na investor dem go carry wahala.
Nigeria dey trend towards e-offerings, wey mean say everything fit happen for internet. SEC don dey push for dis digital way of doing business. But make we no forget say compliance no suppose suffer. (E be like say dem wan dance Gbege during party without proper arrangement!)
As per the rules, those wey dey do electronic offerings fit use internet, mobile apps, and even USSD to handle all dem important issues like subscriptions and payments, but approval na the koko. Na to protect investors, make everything clear and ensure no jaga-jaga for data. Nobody wan enter market go hear say their money don waka! (Omo, e go painful pass wahala!)
The regulator don drop gists say digital platforms with no proper clearance dey break their rules. Dem dey serious about protecting retail investors, no be joke! In recent times, SEC don dey try to balance digitization with compliance, and e no easy at all!
Plus, Nigerian Exchange Group don launch NGX Invest, one digital platform wey approved to handle public issues online. Even with all these upgrades, SEC still dey hammer home the point say compliance gets good head! Dem no wan make anybody comot for road.
This fine wey SEC drop on Stanbic IBTC show say dem no dey play with investor protection. This one na clear signal as Nigeria dey waka towards greater digitalization for capital raising. So, investors, shine your eye! (We dey talk am, make you no fall for wahala o!)
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