Stanbic IBTC Holdings PLC will replace its external auditor, PricewaterhouseCoopers, at its Annual General Meeting scheduled for May 2026.
The bank disclosed that PwC will retire at the close of the meeting, with a new audit firm to be appointed, subject to shareholder and regulatory approval. No successor has been named. The change comes at a time when Nigerian financial regulators are tightening oversight on audit quality and corporate governance across the banking sector. For a group of Stanbic IBTC’s size, the external auditor plays a central role in reviewing financial statements and internal controls.
Auditor changes are not routine for large financial institutions and are typically driven by tenure limits, independence considerations, or internal governance decisions. In this case, the transition follows a period of strong financial performance and capital expansion, placing added attention on the credibility of its reporting processes. Investors will be watching closely for the choice of replacement. The incoming auditor will inherit oversight of a group that reported over ₦1 trillion in gross earnings and continues to expand across multiple financial segments.
The appointment is expected to be one of the key resolutions at the 2026 AGM, where shareholders will vote on the new firm that will take over the audit of one of Nigeria’s largest financial services groups.
