The Economic and Financial Crimes Commission, EFCC, on Monday, May 4, 2026, arraigned a former Chairman of the defunct Skye Bank Plc, Tunde Ayeni over an alleged N15.6 billion fraud.
The EFCC revealed that Ayeni was arraigned on a 17-count charge bordering on criminal breach of trust. His charges also include misappropriation and conversion of investors’ funds.
One of the counts alleged that Ayeni misappropriated over N3.2 billion of depositors’ funds between October and November 2014. This fund was allegedly moved to an account domiciled with Zenith Bank in violation to multiple regulations and guidelines.
He also reportedly moved over N5 billion to a Union Bank account, committing similar violations.
However, the former Skye Bank Chairman pleaded “not guilty”.
Following this, the court adjourned the matter to May 13, 2026 for hearing of the bail application. During this period, the defendant will be remanded at the Kuje Correctional Centre.
Recall that Skye Bank was a Nigerian commercial bank that failed due to corporate governance and liquidity problems. This caused the Central Bank of Nigeria to revoke its license in September 2018 and the assets were transferred to Polaris Bank.
