Guaranty Trust Bank Plc (GTBank) has asked a Federal High Court, Lagos, to commit Stanbic-Ibtc Bank, some of its top executives and its lawyer, Mr. Justus C. Iheanacho, to prison over alleged disobedience of court orders.
Listed as alleged contemnors alongside the bank and Mr Iheanacho are: Mr. Yinka Sanni, Mr Wole Adeniyi, Mrs. Olubunmi Dayo-oOagunju, Mrs. Olufunke Amobi, Mr. Olu Delano, Mr. Eric Fajemisin, Mr. Kola Lawal, Mr. Remy Osuagwu, Mr. Abubakar Sadiq Bello, Mr. Helmut Engelbrecht, Ms. Rabi Isma, Mrs. Funeka Montjane, Mr. Simon Ridley and Mrs. Remilekun Soyannwo.
Gtbank through its lawyer, Babatunde Adekunle Ogunba (SAN) prayed the court to commit the bank and above mentioned persons to prison for disobeying the court order in a suit marked FHC/L/CS/1738/2024, which he said was pursuant to Order 35 Rules 1 and 2 of the Federal High Court (Civil Procedure) Rules, 2019 and under the court’s inherent jurisdiction.
In the contempt proceedings, GTBank Plc has specifically prayed the court for the following reliefs: order of this Honourable Court granting leave to the Applicant to lift the veil of incorporation of the 1st alleged contemnor in tandem with the subsisting interim order of this Honourable Court to such an extent as to permit, authorize and/or sanction contempt and/or committal proceedings against the cited persons owing to their flagrant disobedience of the Order of this court as per the FORM 48 (previously issued) and the FORM 49 also issued by the Honourable Court.
“In consequence of relief above, an order of this Honourable Court committing Mr. Justus Ineanacho, Mr. Yinka Sanni, Mr Wole Adeniyi, Mrs. Olubunmi Dayoolagunju, Mrs. Olufunke Amobi, Mr. Olu Delano, Mr. Eric Fajemisin, Mr. Kola Lawal, Mr. Remy Osuagwu, Mr. Abubakar Sadiq Bello, Mr. Helmut Engelbrecht, Ms. Rabi Isma, Mrs. Funeka Montjane, Mr. Simon Ridley and Mrs. Remilekun Soyannwo. , being the Solicitor that deliberately deposed to several false Affidavits before this Honourable Court and the directing minds of the alleged contemnors respectively, to a Correctional Facility within the jurisdiction of this Honourable Court, for their willful, deliberate and orchestrated disobedience of the interim orders of this Honourable Court.
“In further consequence of reliefs ‘A’ and ‘B’ above, a Consequential Order of the Court mandating that the listed alleged contemnors/cited persons, as lawful and ultimately cited for contempt herein shall remain in Correctional Services custody or/and protective of any of detailing security agencies or at any designation prison/reformatory in Nigeria’s territorial landscape until they purge themselves of the contempt and restore the majesty of this honourable court.”
In the affidavit in support of the motion deposed to by Timileyin Oyefeso, Male, a lawyer in the law firm of Kunle Ogunba & Associates stated that on October 25, 2024, the court issued preservative orders restraining the defendants from dissipating funds across all accounts and directing financial institutions to disclose balances linked to them. And that despite being duly notified, Stanbic IBTC Bank provided false information under oath regarding the status of a key account belonging to one of the defendants.
The deponent also stated that Stanbic Ibtc Bank initially claimed the account was unfunded in an affidavit filed on November 8, 2024. However, evidence later emerged showing that the same bank had, days earlier, acknowledged placing a lien of R8.7 million on the account in compliance with the court’s order.
The deponent argues that the contradiction amounts to deliberate deception and a willful attempt to mislead the court. Which stating that continued non-compliance, even after a subsequent court order on February 24, 2026, reaffirming the attachment of the funds.
At the hearing of the matter on Wednesday, OGUNBA (SAN) leading O. T Ogunba, I.U Odo and T. E Oyefeso, appeared for GTBank, whie Adeyinka Olumide Fusika (SAN) appeared for the 2nd Defendant, Mr. Justus .C Iheanacho, appeared for Stanbic Ibtc Bank. The bank was also represented by its Senior legal adviser, Nanli Samuel.
At the day’s proceedings, Ogunba (SAN) informed the Court of our Motion for contempt dated March 27, 2026, which he proceeded to lay the foundation that precipitated the said Motion and prayed the Court that the cited parties be ordered to appear before the Court on the next adjourned date to show why they should not be committed to prison, adding that all parties in the suit have been served.
Responding, Stanbic-Ibtc bank’s lawyer, Ihenacho, informed the court that he had already filed a Counter Affidavit to our form 48, and Form 49.
Iheanacho also informed the Court that the purport of the Affidavit is to show that there was no such money as claimed by the applicant in the account of the 5th defendant maintained with the Bank.
He further stated that he was not aware of our letter until he was served with our Motion On Notice while informing the Court that they are already filing a Counter Affifavit in opposition to our Motion already. He mentioned that in the affidavit, they deposed already that the letter which we are relying on majorly is just a normal letter Banks write to customers, he stated that a staff of the Bank is presently in Court and can elucidate more on the letter.
The presiding judge, Justice Deinde Dipeolu, however stated that the content of the letter is very clear and no other meaning can be read into same.
On his part, Mr. Fusika (SAN), informed the Court that as a Defendant in this suit they should be served all processes filed by STANBIC IBTC Bank in this suit. He prayed the Court to order them to serve all processes they filed on them.
He also stated that he is personally surprised at the development as it has now become the practice of Banks to to depose falsely on Oath.
Responding, lawyer to the Stanbic-Ibtc bank, Iheanacho, maintained that the letter was not to the effect that there is money in the account of the 5th Defendant. He prayed for an adjournment in order to be proper before the Court as they are currently filing their counter affidavit.
Olumide Fusika (SAN) also informed the court of his application for Stay of proceedings but mentioned that he would not be going on with that for now in the interest of Justice in order to allow progress in the Contempt proceedings.
Upon submissions of all counsel, Justice Dipeolu consequently adjourned the matter to April 20, 2026, while ordered the 1st-16 alleged contemnors to appear in court on the adjourned date.
