Here is what Stanbic IBTC told Gistmaster about the Financial Council Issue

After publishing the news of Financial council suspension of IBTC directors,Gistmaster got a message from the bank stating their own side of the story.

Our attention has been drawn to the media statements by the Financial Reporting Council of Nigeria (FRCN) in which several inaccurate and unseemly allegations were made against Stanbic IBTC Holdings PLC (“Stanbic IBTC”). Although the matter is in court, we are

Stanbic IBTC Directors suspended by Financial Council over Irregularities in Financial Statements

The Financial Reporting Council of Nigeria has suspended the Chairman of Stanbic IBTC Bank Plc, Atedo Peterside; its Managing Director, Sola David-Borha; and two staff of KPMG, Arthur Oginga and Dr. Daru Owei, over accounting irregularities and improper disclosures in Stanbic IBTC’s 2013 and 2014 financial statements.

The FRC in a statement on Monday, said Peterside, David-Borha and the KPMG staff remain suspended until the conclusion of investigation into the