EFCC ARRAIGNS EX-SKYE BANK CHAIRMAN TUNDE AYENI OVER ALLEGED N15.6BN FRAUD

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The Economic and Financial Crimes Commission has arraigned former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, before the Federal Capital Territory High Court over an alleged N15.6 billion fraud.

The anti-graft agency disclosed in a statement on Monday that Ayeni was docked on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds.

According to the commission, the defendant allegedly diverted a total of N15,665,085,429 while serving as chairman of the bank in 2014, in violation of banking regulations.

One of the charges alleged that Ayeni misappropriated over N3.2 billion from depositors’ funds in the bank’s suspense account and transferred the sum to accounts belonging to Misa Limited domiciled with Zenith Bank.

Another count accused him of diverting N5.07 billion to an account belonging to Union Registrar Limited with Union Bank, also in breach of prudential guidelines.

Prosecuting counsel, E.E. Iheanacho (SAN), informed the court that the prosecution was ready to proceed with the trial and applied for the charges to be read to the defendant.

Ayeni, however, pleaded not guilty to all the counts.

Following his plea, the prosecution urged the court to remand him in custody pending trial, while defence counsel, Ahmed Raji Bashir (SAN), opposed the application, arguing that the charges were served on a public holiday and requesting bail or release to counsel.

Presiding judge, Justice Jude Onwuzuruike, adjourned the matter to May 13, 2026, for the hearing of the bail application.

The court also ordered that the defendant be remanded at the Kuje Correctional Centre pending the determination of his bail application.