Tunde Ayeni, former chairman of the defunct Skye Bank Plc, has been arraigned by the Economic and Financial Crimes Commission (EFCC) over an alleged N15.6 billion fraud.
Ayeni was brought before Justice Jude Onwuzuruike of the Federal Capital Territory High Court in Apo, Abuja, on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds.
Prosecution counsel, E.E. Iheanacho, SAN, told the court: “We have before the court 17-count charge dated April 28, 2026, we humbly apply that the charge be read to the defendant.”
One of the charges 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… and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.”
Another count states: “That you Tunde Ayeni… 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… 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 charges when they were read in court.
Following his plea, Iheanacho urged the court to fix a trial date and remand the defendant in custody.
Defence counsel, Ahmed Raji Bashir, SAN, told the court the charges were served on a public holiday and urged that the defendant be released to him or returned to EFCC custody.
Justice Onwuzuruike adjourned the matter 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 request.
Credit: TheWitness
