The Economic and Financial Crimes Commission (EFCC) on Monday arraigned former Chairman 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. Ayeni was docked before Justice Jude Onwuzuruike on a 17-count charge bordering on criminal……
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned former Chairman 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.
Ayeni was docked before Justice Jude Onwuzuruike on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of depositors’ funds.
During proceedings, prosecution counsel, E.E. Iheanacho (SAN), informed the court that the matter was scheduled for arraignment and that the prosecution was ready to proceed to trial.
“We have before the court 17-count charge dated April 28, 2026, we humbly apply that the charge be read to the defendant,” he said.
The defence counsel, Ahmed Raji Bashir (SAN), however, told the court that the charge was served on the defendant on a public holiday, noting that it was necessary to bring it to the court’s attention.
One of the counts alleged that Ayeni, while serving as chairman of Skye Bank between October and November 2014, misappropriated over N3.2 billion from depositors’ funds.
This was disclosed in a statement by the anti-graft agency’s head, media and publicity, Dele Oyewale, on Monday, May 4.
The charge reads: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between 21st of October, 2014 and 19th November, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of Three billion, Two hundred and One million, Five Hundred and Thirty Five Thousand, Four Hundred and Twenty Nine Naira, Forty two kobo(N3,201,535,429.42) by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in Violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.”
Another count accused him of diverting N5.07 billion to a company account in breach of banking regulations.
It reads: “That you Tunde Ayeni, whilst being the Chairman ,Board of Directors of the Defunct Skye Bank Plc on or about 27th November, 2014, at Abuja within the Jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Billion, Seventy Eight million, Five hundred and Fifty thousand Naira(N5, 078,550,000) by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”
Ayeni pleaded not guilty to all the charges.
Following the plea, Iheanacho urged the court to fix a trial date and remand the defendant in custody.
“In view of the not guilty plea, may we humbly apply for a trial date, we also pray that the defendant be remanded in the Correctional centre,” he said.
The defence counsel, however, appealed to the court to release the defendant to him or return him to EFCC custody pending the hearing of his bail application.
Justice Onwuzuruike adjourned the case to May 13, 2026, for hearing of the bail application and ordered that Ayeni be remanded at the Kuje Correctional Centre pending the determination of his bail.
