EFCC arraigns ex-Skye Bank chairman Tunde Ayeni over alleged N15.6bn fraud
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, before Justice Jude Onwuzuruike of the Federal Capital Territory (FCT) High Court, Apo, Abuja.
Ayeni was docked on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds amounting to N15,665,085,429.
Prosecution counsel, E.E. Iheanacho (SAN), told the court that the matter was slated for arraignment and that the prosecution was ready to proceed with trial, urging the court to have the charges read to the defendant.
One of the charges alleged that Ayeni, while serving as chairman of Skye Bank between October 21 and November 19, 2014, dishonestly misappropriated N3.2 billion from depositors’ funds domiciled in the bank’s suspense account by transferring the sum to accounts belonging to Misa Limited in violation of banking regulations.
Another count accused him of misappropriating N5.07 billion on November 27, 2014, by transferring the funds from the bank’s suspense account to an account belonging to Union Registrars Limited, contrary to the Prudential Guidelines and other regulatory provisions. Ayeni, however, pleaded not guilty to all the charges when they were read to him.
Following his plea, the prosecution applied for a trial date and urged the court to remand the defendant in a correctional facility pending trial.
Defence counsel, Ahmed Raji Bashir (SAN), informed the court that the charge was served on the defendant on a public holiday and requested that he be released to him or returned to EFCC custody.
Justice Onwuzuruike adjourned the case to May 13, 2026, for hearing of the bail application and ordered that the defendant be remanded at the Kuje Correctional Centre pending the determination of his bail request.
