SunTrust Bank Refutes Custody Claims, Recommits To Uninterrupted Operations

SunTrust Bank Nigeria Limited has addressed the widespread reports concerning the legal proceedings involving its managing director and executive director, clarifying that both executives are not in custody and that the bank’s operations remain fully uninterrupted.

The clarification comes in the wake of news reports detailing the arraignment of the executives by the Economic and Financial Crimes Commission (EFCC) over an alleged $12 million fraud.

While the bank acknowledges the court appearance held on June 13, 2025, it emphasises that the court granted both executives bail and that they have fully met all bail conditions.

Head of Corporate Communications at SunTrust Bank, Chinonso Atuegwu, said: “We wish to clarify that while our managing director and executive director were before the court earlier today, the court has granted them bail, and they have since perfected all bail conditions. They are not in custody, contrary to the inaccurate reports being widely circulated. Both executives have continued to cooperate fully with the authorities, and the bank remains committed to supporting the legal process as it unfolds.”

The bank stressed that it remains focused on delivering quality service and maintaining operational stability.

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“We would like to reassure our esteemed customers, partners, and stakeholders that the operations of SunTrust Bank remain uninterrupted and that the bank is committed to delivering excellent service across all touchpoints, “ he said.

While the bank reaffirmed its commitment to supporting the ongoing legal process, it noted that., it will refrain from making additional public comments as the matter is now before the court.

SunTrust Bank expressed gratitude to its stakeholders for their continued trust and understanding during this period.