The Central Bank of Nigeria (CBN), National Pension Commision (PENCOM) and Securities and Exchange Commission (SEC) in half year ended June 30, 2025, imposed N113 million sanctions on Stanbic IBTC Holdings Plc for failing market rules & regulations.

In the corresponding half year of 2024, the Group was sanctioned N159 million for none- compliance to market rules

From the audited half year ended June 30, 2025, SEC imposed a penalty of N3,980,000 on Stanbic IBTC Asset Management Limited for: failure to comply with the Commission’s requirement on valuation methodologies of Fixed Income Securities and wrong disclosures in 2023 Audited Financial statements of enhanced short-term income fund.

In the H1 2025, the CBN imposed a fine of N2,700,000 on Zest Payments for failure to submit 2023 Audited Financial Statements for by 31 March, 14 days after the regulatory timeline.

Also, the SEC imposed a fine of N50,145,000 on Stanbic IBTC Capital Limited as the Lead Issuing House for the issuer, Guaranty Trust Holding Company Plc (GTCO PLC) who failed to obtain “No Objection” or approval from the SEC prior to tilising its digital distribution channels (internet banking and mobile apps) to accept applications under its Public Offer of shares.

Accoording to thee H1 2025 result and accounts, the SEC imposed a fine of N500,000 on Stanbic IBTC Trustee Limited, being a Trustee to three Funds and failing to ensure that the Fund Manager comply with the valuation methodology for fixed income instrument as provided in Schedule VI of the SEC Rules 2019.

The CBN imposed a fine of N56,000,000 on Stanbic IBTC Bank Limited for failing to report a cyber incident within 24 hours of detection in contravention of Section 5.6 of the CBN Risk Based Cybersecurity Framework, 2018.

The Bank was penalised N56 million comprising of N50 million for the contravention and N6 million representing N1 million daily for 6 days that the breach persisted.

“The Bank wrote to CBN to appeal the erroneous finding as the Regulation’s observation is incorrect,” the Group explained in a statement.