The Chief Executive Officer of Stanbic IBTC Bank, Wole Adeniyi, has been listed as a beneficiary of six insider-related credit facilities from the financial institution as of December 31, 2025, according to details contained in the bank’s audited financial statements.
The disclosures, examined closely by this paper, show that Adeniyi maintained five naira-denominated credit facilities with combined approved limits of ₦470 million, alongside a separately listed foreign-currency card facility.
The banking executive, who assumed leadership of Stanbic IBTC Bank in 2020, has spent six years overseeing the institution’s operations. Details of the borrowing arrangements are contained in the insider-related credit section of the bank’s 2025 financial report, which identifies directors, senior executives and other connected persons who maintained credit relationships with the institution.
The facilities fall within the regulatory framework governing insider lending, including Section 3.4(b) of the Central Bank of Nigeria’s prudential guidelines.
According to the disclosures, this executive’s naira facilities comprise a ₦5 million card line, three term loans of ₦150 million, ₦95 million and ₦200 million, and an overdraft facility of ₦20 million.
The facilities carry annual interest rates ranging from 20 per cent to 36 per cent. The report indicates that the credit arrangements were performing as of the reporting date, with cash listed as security for each facility.
Foreign-Currency Facility Draws Attention
A separate entry in the financial statements identifies a card facility in this executive’s name with its currency classified as United States dollars.
The facility was approved on July 29, 2025, with an expiry date of July 31, 2028, and an interest rate of 30 per cent. The bank’s disclosure lists an approved credit figure of $28,798,600 and an outstanding balance, including accrued interest, of $18,074,490.94 as of December 31, 2025. No Dollar Facility Stood in his name in 2024.
Other Senior Executives Listed as Borrowers
Adeniyi is not the only senior figure identified in the bank’s insider-credit disclosures. Oluseun Olubunmi Delano, an Executive Director, is listed with a foreign-currency term loan of $143,993,000 carrying an interest rate of 7 per cent.
Another entry associated with former Stanbic IBTC Holdings chief executive, Dr A.A.E. Sogunle identifies a foreign-currency term loan of $503,975,500 carrying an interest rate of 10 per cent. Both facilities were reported as performing and secured against cash.
The disclosure of these transactions is part of the bank’s obligations to provide information on credit exposures involving directors, executives and related persons.
CEO Holds No Disclosed Shares in Bank
Beyond the credit arrangements, the bank’s ownership records indicate that Adeniyi had no direct shareholding in Stanbic IBTC Bank as of December 31, 2025.
Stanbic IBTC Holdings Plc controlled virtually the entire issued share capital of the banking subsidiary, with 49,333,333,333 shares. The remaining single share was registered in the name of Yinka Sanni, Chairman of the bank.
He is also not listed as a director of the parent company, Stanbic IBTC Holdings Plc, although he occupies the chief executive position within the banking subsidiary. The disclosures therefore distinguish his role in managing the bank from any direct ownership interest in its shares. He also served on the bank’s Board Credit Committee and Board Risk Management Committee during the financial year.
The 2025 governance report identifies Simon Ridley as Chairman of the Board Credit Committee and Abubakar Sadiq Bello as Chairman of the Board Risk Management Committee. The Board Credit Committee’s responsibilities include reviewing and approving certain insider-related credit facilities, subject to its delegated authority.
Bank Records ₦935 Billion Gross Earnings
The disclosures emerged against the backdrop of Stanbic IBTC Bank’s strong financial performance in 2025.
The institution recorded gross earnings of approximately ₦935.1 billion, compared with ₦686.8 billion in 2024. Its profit before tax rose to approximately ₦448.7 billion, while profit after tax reached ₦318.8 billion.
The executive is also a Fellow of the Institute of Chartered Accountants of Nigeria.
