General News
Stanbic IBTC Money Market Fund Rated Aa(f)
Stanbic IBTC Money Market Fund, one of the six Mutual Funds managed by Stanbic IBTC Asset Management Limited and regulated by the Securities & Exchange Commission (“SEC”) has recently been assigned a fund rating AA(f) by Agusto & Co., Nigeria’s reputable credit rating agency. This is the highest rating so far conferred on a Mutual Fund managed in Nigeria by the rating agency.
According to the Agusto & Co., the rating denotes a fund with “minimal exposure to downside risk (i.e. impairment of the net asset)”. Established in 2009, the fund is ideal for conservative investors looking to optimize cash balances that might be required in a short period of time. The Fund has a capable Investment Management team with an average of 10 years financial services experience and a well established investment process.
Yinka Sanni, chairman, Stanbic IBTC Asset Management Limited while commenting on the feat said the company will continually leverage its robust risk management framework to safeguard and ensure optimal return on investment for investors in the company’s Mutual Funds. This, he said, is anchored on strict adherence to global best practices by the fund manager.
“Stanbic IBTC Asset Management Limited is committed to implementing initiatives that improve corporate governance for the benefit of all stakeholders. We remain steadfast in implementing governance practices that comply with international best practice”, Mr. Sanni said.
According to Olumide Oyetan, chief executive officer of Stanbic IBTC Asset Management Limited, “the Stanbic IBTC Money Market Fund is a collective investment scheme that invests in a wide range of very liquid short-term money market instruments such as Guaranteed Commercial Papers, Bankers’ Acceptance, Term Deposits and Certificates of Deposit, among others, with domestic banks in Nigeria”.
He said the Fund invests 100% of its assets in low risk money market securities (including treasury bills) with financial institutions in Nigeria rated “A” and above by credit rating agencies recognized by the SEC. The Fund is geared to rival direct money market placements and has the added advantage of making quarterly distribution of income which is very important for investors who require periodic liquidity. The effective yield net of fees on Stanbic IBTC Money Market Fund as at 31 December 2011 was a competitive 15.44% which was available to subscribers with a minimum investment of N50,000.
Other mutual funds under management by Stanbic IBTC Asset Management Limited include: Stanbic IBTC Nigerian Equity Fund, which is currently Nigeria’s largest mutual fund; Stanbic IBTC Ethical Fund, Nigeria’s first socially responsible quoted mutual fund, which allows subscribers to make long-term investments without compromising their religious beliefs or principles; Stanbic IBTC Guaranteed Investment Fund; Stanbic IBTC Bond Fund and more recently Stanbic IBTC Balanced Fund. Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Bank Group is a member of Standard Bank Group.
Overall, the Stanbic IBTC Group has managed funds for Pension Funds, Retirement Benefit Schemes and High Net worth Individuals since the late 1980s. Stanbic IBTC Asset Management Limited’s current list of portfolio management clients includes many large multinationals and blue chip companies.
General News
Nigeria Police suspends tinted glass permit enforcement over court injunction

Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Tinted glass permit
The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.
An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.
Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.
The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.
IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.
General News
NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.
According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.
The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.
Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.
He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.
Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.
In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.
Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
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