The Economic and Financial Crimes Commission has arraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, before the Federal Capital Territory High Court in Apo, Abuja, over an alleged N15.6 billion fraud case.
According to the anti-graft agency, Ayeni is facing a 17-count charge involving criminal breach of trust, misappropriation, and alleged conversion of investors’ and depositors’ funds amounting to about N15.66 billion.
The EFCC stated that the alleged offences occurred during his tenure as chairman between 2014, during which he was accused of unlawfully transferring and diverting funds from the bank in violation of financial regulations and prudential guidelines.
In one of the charges, he was accused of authorising the transfer of over N3.2 billion from a suspense account to a private company’s accounts, while another count alleged the movement of over N5 billion to a registrar-linked account, both said to be in breach of banking rules.
During proceedings, EFCC counsel E.E. Iheanacho, SAN, informed the court that the prosecution was ready to begin trial and requested that the charges be read to the defendant.
Tunde Ayeni pleaded not guilty to all counts brought against him.
Following his plea, the prosecution urged the court to remand him in custody pending trial, while the defence counsel opposed the request and applied for bail, arguing procedural concerns over the timing of service.
The presiding judge, Justice Jude Onwuzuruike, ordered that the defendant be remanded at Kuje Correctional Centre and adjourned the case to May 13, 2026, for hearing of the bail application.
The case is part of ongoing financial crime prosecutions being handled by the Economic and Financial Crimes Commission.
