Ikoyi Court Summons 16 Stanbic IBTC Officials Over N806m Contempt Allegation

The Federal High Court in Ikoyi has ordered 16 senior officials of Stanbic IBTC Bank Plc to appear over alleged contempt in a N806 million debt dispute with Guaranty Trust Bank. Justice Dehinde Dipeolu granted the summons after GTBank’s counsel filed a motion accusing Stanbic IBTC of defying existing orders to preserve funds and disclose accounts linked to GY Farmers Ltd. Those named include Yinka Sanni, Wole Adeniyi, Olubunmi Dayo-Olagunju and other key executives. GTBank claims the bank’s affidavit misled the court by denying available funds despite evidence of an R8.7 million lien. Stanbic IBTC’s lawyer insists their filings were accurate and routine. The court has scheduled a hearing on April 20, 2026, for the executives to show cause why they should not face committal.

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