By NaijaonpointOnline
The Chief Executive Officer of Stanbic IBTC Bank, Oluwole Adelaja Adeniyi, holds six personal credit facilities from the financial institution he leads, including a $28.8 million card facility on which more than $18 million had been drawn as of December 31, 2025, according to the Bank’s disclosures.
The disclosures show that Adeniyi, who has headed the Bank since 2020, holds no shares in Stanbic IBTC Bank or its parent company, Stanbic IBTC Holdings PLC, despite occupying its top executive position.
The six credit facilities are classified as insider-related credits under Section 3.4(b) of the Central Bank of Nigeria’s prudential guidelines and the CBN’s BSD/1/2004 circular on insider credits.
The largest of Adeniyi’s facilities is a dollar-denominated card facility with an approved limit of $28,798,600, carrying an interest rate of 30 per cent. Granted on July 29, 2025, the facility runs until July 31, 2028.
By December 31, 2025, its outstanding balance, including accrued interest, had reached $18,074,490.94, equivalent to more than N27 billion at prevailing exchange rates.
The Bank’s 2024 disclosures contained no dollar facility in Adeniyi’s name.
SIX PERSONAL CREDIT FACILITIES
Beyond the dollar card facility, the Bank disclosed five additional credit facilities in Adeniyi’s name, all denominated in naira.
They comprise a N5 million card facility, three term loans of N150 million, N95 million and N200 million, and a N20 million overdraft.
The combined approved limits of the five naira facilities amount to N470 million, with interest rates ranging between 20 and 36 per cent.
All six facilities were reported as performing and secured against cash.
The disclosures therefore place Adeniyi’s financial relationship with the institution he manages largely on the borrowing side, with the dollar card facility representing the most substantial exposure among his personal facilities.
BANK’S OTHER INSIDER DOLLAR BORROWERS
Adeniyi is, however, not the largest dollar borrower among the Bank’s disclosed insider-related credit beneficiaries.
Executive Director Oluseun Olubunmi Delano holds a dollar-denominated term loan of $143,993,000 at an interest rate of 7 per cent.
Another insider borrower, Dr A.A.E. Sogunle, holds a term loan of $503,975,500 at 10 per cent.
Both facilities were also reported as performing and secured against cash.
The disclosures do not establish any regulatory breach or wrongdoing in connection with these facilities. No allegation of impropriety has been made against Adeniyi or the other borrowers.
NO SHAREHOLDING IN THE BANK HE RUNS
The Bank’s shareholding disclosures as of December 31, 2025, show that none of its directors held a direct interest in its issued share capital.
Stanbic IBTC Holdings PLC owns 99.9999999 per cent of the Bank, while the remaining single share is held by Yinka Sanni, the Bank’s Chairman.
Adeniyi does not appear among the Bank’s shareholders.
At the parent-company level, only three directors were listed as holding shares as of the same reporting date: Ballama Manu, Kunle Adedeji and Babs Omotowa.
Adeniyi was not among them and is not a director of Stanbic IBTC Holdings. His executive position and directorship are within the banking subsidiary.
PUBLIC RECORD SEARCHES
Further searches of publicly accessible records returned no result for Adeniyi in the International Consortium of Investigative Journalists’ Offshore Leaks Database, which contains records associated with the Panama Papers, Paradise Papers and Pandora Papers.
Surname matches in the database relate to another individual, Adeniyi Ibraheem Makanjuola, rather than the Stanbic IBTC chief executive.
The searches also returned no United Kingdom directorship or Delaware company registration in Adeniyi’s name.
No property deed in his name surfaced in the public records searched in Nigeria or abroad. Similarly, a review of bulk United States Federal Aviation Administration registry data current to September 2026 returned no aircraft registered under his name or that of the Bank.
These findings are limited to the public databases and records searched and should not be interpreted as proof that no other assets or interests exist.
SIX YEARS AT THE HELM
Adeniyi joined Stanbic IBTC Bank in 2007 and progressed through operations and retail banking before becoming Deputy Chief Executive.
He was appointed Chief Executive in 2020 and has now spent six years leading the institution.
He is also chairman of the Bank’s Board Credit Committee and Board Risk Management Committee.
His professional qualifications include a First Class degree in Business Administration from the University of Benin, an MBA from the University of Manchester, and fellowships of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.
The Bank recorded gross earnings of N935 billion in 2025.
THE DISCLOSURE QUESTIONS
The central issue emerging from the disclosures is the scale and structure of the personal credit facilities held by the Bank’s chief executive, particularly the $28.8 million card facility carrying a 30 per cent interest rate, of which approximately $18.07 million was outstanding at the end of 2025.
The disclosures also show that Adeniyi has no reported shareholding in either the Bank or its parent company, while chairing two important board committees responsible for credit and risk oversight.
The fact that all six facilities are reported as performing and cash-secured is an important part of the record. Equally, the existence of insider-credit arrangements does not, by itself, establish misconduct or regulatory non-compliance.
For now, the published figures present a striking financial picture: a bank chief executive with no disclosed ownership stake in the institution he runs, but with six personal credit facilities from that institution, including a dollar card facility approaching $29 million.