Stanbic IBTC Holdings Plc has issued a strong disclaimer against social media advertisements that are soliciting the public to join WhatsApp groups for investment opportunities promising "guaranteed returns" in "high-quality stocks." The financial services group clarified in a regulatory filing that these advertisements are fraudulent, false, and unauthorized.

The announcement comes after the circulation of social media posts that falsely feature the image of Busola Jejelowo, the CEO of Stanbic IBTC Asset Management Limited, alongside the Stanbic IBTC Stockbrokers logo. The company emphasized that these materials do not originate from Stanbic IBTC Holdings PLC or any of its subsidiaries and have not been approved or endorsed by the group.

"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 stated. Stanbic IBTC Holdings has reported these fraudulent activities to the Securities and Exchange Commission of Nigeria.

The company advised individuals who may have fallen victim to such schemes, made payments, or disclosed personal or financial information to report the matter immediately to the nearest law enforcement agency. It urged the public to exercise caution regarding unauthorized communications that claim association with Stanbic IBTC, particularly those related to investments and promised financial returns.

Stanbic IBTC Holdings stressed the importance of relying solely on authentic and verified information disseminated through its official communication platforms. "Such messages should be treated as suspicious unless independently verified through our official channels," the company stated. Customers are directed to official platforms including @StanbicIBTC on Facebook, LinkedIn, X (Twitter), Instagram, and YouTube for accurate information about the group and its products and services.

The financial institution reiterated its commitment to taking all necessary steps to protect its brand and customers from deceptive and fraudulent activities.