The Economic and Financial Crimes Commission (Economic and Financial Crimes Commission) has re-arraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, before the FCT High Court in Abuja over alleged fraud involving ₦15.6 billion.
Ayeni was initially arraigned on 17 counts on May 4 and was later remanded at the Kuje Correctional Centre in Abuja. The charges were subsequently amended to 18 counts following additional evidence, leading to his fresh arraignment.
The anti-graft agency accused him of criminal breach of trust, misappropriation, and diversion of funds belonging to the now defunct Skye Bank Plc, which has since become Polaris Bank Limited.
During proceedings, Ayeni reportedly pleaded guilty to the allegations against him.
According to the amended charges, he allegedly diverted ₦510 million in September 2014 by transferring funds to Capital Field Investment Group Limited, as well as ₦600 million to Harigold Ventures Limited, in violation of the bank’s operational policies.
The EFCC stated that the actions amounted to criminal breach of trust under Section 311 of the Penal Code, which criminalises the dishonest misuse or conversion of entrusted property.
The case has been adjourned by trial judge Justice Jude Onwuegbuzie until July 6 for commencement of trial.
This development adds to a series of financial misconduct cases involving banking executives, as regulatory agencies continue efforts to clamp down on fraud within Nigeria’s financial sector.
