The Economic and Financial Crimes Commission (EFCC) has re-arraigned Tunde Ayeni, former chairman of the board of the defunct Skye Bank Plc, over an alleged ₦15.3bn fraud, marking the fourth time he has faced the charges in 2026.
Ayeni was re-arraigned on Wednesday, November 11, before Justice Hamza Mu’azu of the Federal Capital Territory (FCT) High Court, Maitama Division, Abuja, on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds.
The latest court appearance followed the transfer of the case from Justice Jude Onwuegbuzie of the FCT High Court, Apo Division, to Justice Mu’azu.
According to the charge sheet, the EFCC accused Ayeni of directing the transfer of more than ₦3.1bn from Skye Bank’s suspense account to an account belonging to Misa Limited, held with Zenith Bank, in November 2014.
He was also accused of directing the transfer of more than ₦5bn from the same suspense account to an account belonging to Greenwich Registrars, held with Union Bank, in December 2014.
The commission alleged that the transactions formed part of the diversion and misappropriation of ₦15.3bn belonging to the defunct bank.
Ayeni pleaded not guilty to all 18 counts when they were read to him in court.
Following his plea, prosecution counsel, Abba Muhammed, SAN, requested that the court fix a date for the commencement of trial.
However, defence counsel, E. Inegedu, SAN, urged the court to maintain the bail conditions previously granted to his client in May 2026.
Inegedu told the court that Ayeni had consistently attended previous proceedings and had not violated any of his bail conditions, including the requirement to submit his international passport and provide sureties.
The prosecution did not oppose the request, leaving the decision to the discretion of the court.
Both legal teams acknowledged that the defendant had attended previous court sittings without any reported breach of his bail conditions.
Justice Mu’azu subsequently adjourned the case until January 19, 2027, for the commencement of trial.
Ayeni was first arraigned over the alleged fraud on May 4, 2026, before being re-arraigned on an amended charge on June 22. He appeared before the court again on July 16, following a further amendment of the charges to 18 counts.
The November 11 proceedings marked his fourth arraignment in the case this year.
Ayeni served as chairman of the board of Skye Bank before the Central Bank of Nigeria intervened in the bank’s operations in July 2016. The bank’s banking licence was subsequently revoked in 2018, with its assets and liabilities transferred to the newly established Polaris Bank.
The allegations against Ayeni remain before the court, and he has pleaded not guilty to the charges.
