The Economic and Financial Crimes Commission (EFCC) on Monday, May 4, 2026, arraigned former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, before the Federal Capital Territory High Court in Abuja on allegations of massive fraud involving N15.6 billion.
Ayeni was docked before Justice Jude Onwuzuruike on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of depositors’ funds.
Prosecution counsel, E.E. Iheanacho (SAN), told the court that the EFCC was ready to proceed with the trial.
He applied for the charges, dated April 28, 2026, to be read to the defendant.One of the counts accused Ayeni of dishonestly misappropriating the sum of N3,201,535,429.42 from the bank’s Suspense Account between October 21 and November 19, 2014, by transferring it to accounts belonging to Misa Limited at Zenith Bank, in violation of Prudential Guidelines.
Another count alleged that on or about November 27, 2014, he misappropriated N5,078,550,000 from the same Suspense Account and transferred it to Union Registrar Limited’s account at Union Bank.
Ayeni pleaded not guilty to all the charges when they were read to him.Following the plea, the prosecution urged the court to remand him in a correctional facility pending trial.
Defence counsel, Ahmed Raji Bashir (SAN), informed the court that the charge was served on his client on a public holiday and prayed that Ayeni be released to him or returned to EFCC custody.
Justice Onwuzuruike adjourned the matter to May 13, 2026, for the hearing of Ayeni’s bail application and ordered that the defendant be remanded at the Kuje Correctional Centre in the meantime.
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