Stanbic IBTC warns of fake investment schemes on social media

Stanbic IBTC Holdings Plc has issued a stern warning against fraudulent investment schemes proliferating on social media platforms. The financial services group clarified that advertisements promising "guaranteed returns" in "high-quality stocks" and using its name, logo, or executive images are unauthorized and deceptive.

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They do not originate from Stanbic IBTC Holdings PLC or any of its subsidiaries, and they have not been approved, endorsed, or issued by the group in any form.

The group disclosed in a regulatory filing that these social media posts, which have featured the image of Busola Jejelowo, CEO of Stanbic IBTC Asset Management Limited, do not originate from the company or its subsidiaries. "The use of our name, logo, brand identity, and the images of our executives in these materials is fraudulent and intended to deceive unsuspecting individuals," the institution stated.

Stanbic IBTC has reported these fraudulent activities to the Securities and Exchange Commission of Nigeria. The company urged the public to exercise caution regarding unauthorized communications, especially those promising financial returns. Customers are advised to rely solely on official communication channels for verified information about Stanbic IBTC and its products and services.

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The use of our name, logo, brand identity, and the images of our executives in these materials is fraudulent and intended to deceive unsuspecting individuals.

The financial institution emphasized its commitment to protecting its brand and customers from deceptive practices. It also advised individuals who have fallen victim to such schemes or disclosed personal information to report the matter to law enforcement agencies immediately.

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Such messages should be treated as suspicious unless independently verified through our official channels.