FRCN suspends Stanbic IBTC Directors


Monday, October 26, 2015 4:34 PM / CardinalStone

Following the petitions of minority shareholders of Stanbic IBTC Holdings Plc and the investigations that followed suit by the Financial Reporting Council of Nigeria (FRCN), the FRCN has announced the suspension of council registration of Stanbic IBTC's directors. The directors affected are:

  •          Atedo Peterside
  •          Sola David-Borha
  •          Arthur Oginga
  •          Daru Owei

As a result of this suspension, the directors will not be eligible to approve financial statements of the group. This suspension also applies to one of the partners of KPMG - Ayodele Othihiwa - the engagement partner in charge of the audit of Stanbic IBTC Holdings Plc's financial statements for the years ended 31st  December 2013 and 2014.


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