How Stanbic IBTC Staff Allegedly Converts Multi-million Naira Bad Loan To Personal Use

Consequently, the presiding Judge, Abimbola Awogboro adjourned till 24th of May, 2023 for report of settlement.


Ajayi Olusola a staff of StanbicIBTC bank was arraigned before the court based on a petition written and jointly signed on behalf of Stanbic IBTC Bank by Kayode Agbetoye

Manager, investigations and Fraud Risk and Rekia Eletu

Head, Investigations and Fraud Risk, the petition titled “Alleged Diversion of Approved Written -off Amounts for Bad Loans by Olusola Ajayi Others.

The petition was written and address to the Commisioner of Police Special Fraud Unit 13b,Milverton Avenue Ikoyi Lagos.Nigeria.

Stanbic IBTC Bank PLC in the said petition stated thus:

We are currently investigating a case of alleged diversion of approved Written-off Loan by some staff members and others. The amount to be written-off, as approved by the Board,were expected to be posted into loan accounts of the beneficiary debtors, to nil off the outstanding loans as provisioned. It was however discovered that the written off amounts

https://worldtopnewsng.com/how-stanbic-ibtc-staff-allegedly-converts-multi-million-naira-bad-loan-to-personal-use/