Stanbic IBTC Executives Face Jail Over Court Order Breach

Executives of Stanbic IBTC Bank, including Chukwuma Nwokocha, Yinka Sanni, Wole Adeniyi, Olubunmi Dayo Olagunju, and Olufunk Amobi, are at risk of imprisonment due to allegations of breaching a court order. Guaranty Trust Bank PLC (GTBank) has approached the Federal High Court in Lagos, seeking to hold these executives in contempt for disobeying an interim order related to a legal dispute (suit no.

FHC/L/CS/1738/2024). The application, filed under Order 35 of the Federal High Court Rules, requests the court to lift the corporate veil of Stanbic IBTC Bank to enable proceedings against the executives.

GTBank claims that Stanbic IBTC provided misleading information regarding account balances and failed to comply with court orders, including a lien on R8.7 million. The court has scheduled a hearing for April 20, 2026, and the executives are required to respond to the allegations.