By SecretsReporters has established that as at 31 December 2025, the Chief Executive of Stanbic IBTC Bank, Oluwole Adelaja Adeniyi, held six personal credit facilities from the Bank. The six are insider-related credits, governed by 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 Bank recorded gross earnings of N935 billion in 2025.
Adeniyi has been Chief Executive of the Bank for six years. He chairs the Bank’s board credit committee and its board risk management committee.
Five of the six facilities are in naira. They are a card line of N5 million, term loans of N150 million, N95 million and N200 million, and an overdraft of N20 million. Their combined approved limits come to N470 million, priced between 20 and 36 per cent.
The sixth facility is classified as a “Card” and is denominated in United States dollars. Its approved limit is $28,798,600, at an interest rate of 30 per cent. It was granted on 29 July 2025 and runs to 31 July 2028. At 31 December 2025 the outstanding balance, with accrued interest, stood at $18,074,490.94, more than N27 billion at prevailing rates. No dollar facility stood in Adeniyi’s name in 2024.
Every one of the six facilities is performing, and every one is secured against cash. Adeniyi is not the largest dollar borrower among the Bank’s insider borrowers. Oluseun Olubunmi Delano, an Executive Director of the Bank, holds a term loan of $143,993,000 at 7 per cent, and Dr A.A.E. Sogunle holds a term loan of $503,975,500 at 10 per cent, both performing and both cash-secured. No regulator has queried the facilities, and no allegation of impropriety attaches to any of them.
The Bank had no director holding a direct interest in its issued share capital as at 31 December 2025. Stanbic IBTC Holdings PLC holds 99.9999999 per cent of the Bank, with the single remaining share held by Yinka Sanni, the Bank’s Chairman. Adeniyi holds no share in the Bank.
At the Holdings level, the directors with shareholdings as at 31 December 2025 were three in number: Ballama Manu, Kunle Adedeji and Babs Omotowa. Adeniyi is not among them. He is not a director of Stanbic IBTC Holdings; his directorship and his executive office sit in the Bank.
Searches carried out for this report returned no result for Adeniyi in the ICIJ Offshore Leaks Database, which holds the Panama Papers, Paradise Papers and Pandora Papers records; the surname matches in that database belong to a different man, Adeniyi Ibraheem Makanjuola. No United Kingdom directorship and no Delaware company in his name was found. No property deed in his name has surfaced in the public records searched in Nigeria or abroad, and the United States Federal Aviation Administration registry, checked in bulk data current to September 2026, holds no aircraft under his name or the Bank’s.
Adeniyi is a First Class graduate in Business Administration of the University of Benin and holds an MBA from the University of Manchester. He is a Fellow of the Institute of Chartered Accountants of Nigeria and a Fellow of the Chartered Institute of Bankers of Nigeria. He joined Stanbic IBTC Bank in 2007 and rose through operations and retail banking to Deputy Chief Executive before his appointment as Chief Executive in 2020.
The position is complete on its face. The Chief Executive of Stanbic IBTC Bank holds no share in the Bank and none in its parent company. His financial relationship with the institution he runs sits on the borrowing side: six disclosed facilities, all performing, all secured against cash, the largest of them a dollar card facility granted in July 2025 with more than half of its limit drawn within five months.
