Business

Stanbic IBTC offers zero naira opening balance for stockbroking accounts

Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings PLC, and Nigeria’s largest stockbroking firm, has removed the minimum stockbroking account-opening balance for individuals to allow zero set up amount via its mobile app or electronic trading (e-Trade) platform on its website. According to a statement, “the organisation has taken it upon itself to enlighten and empower prospective investors, especially the millennials and Gen-Z demographics by providing the tools and opportunities for wealth generation and preservation offered through capital market investments.

“By removing the opening balance requirement and reducing its online brokerage fees, individual investors are encouraged to take advantage of this opportunity and enjoy the aspirational services provided by Stanbic IBTC Stockbrokers.” Titi Ogungbesan, Chief Executive, Stanbic IBTC Stockbrokers, while commenting on the rationale behind the move, described it as the organisation’s way of empowering individual investors to trade in Nigerian stocks. She said: “This is a great opportunity for new and existing investors to take advantage of. This development will enable interested persons to invest in the capital market through Stanbic IBTC Stockbrokers at their own pace.

 

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