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The Economic and Financial Crimes Commission (EFCC) has arraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, before the High Court in Abuja, over alleged N15.6 billion fraud.
The anti-graft agency, in a post on its X handle on Monday, said Ayeni was arraigned on 17 counts of criminal breach of trust, misappropriation, and conversion of investors’ funds. He was accused of diverting funds running into N15,665,085,429.
According to the EFCC, Ayeni, while serving as chairman of the bank between 2014, allegedly mismanaged and transferred depositors’ funds in breach of banking regulations.
EFCC Arraigns Former SKye Bank Chairman, Tunde Ayeni for N15.6b Fraud
The Economic and Financial Crimes Commission, EFCC, on Monday, May 4, 2026, arraigned a former Chairman, Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni before Justice Jude Onwuzuruike of the… pic.twitter.com/pg7l1Nwhvf
— EFCC Nigeria (@officialEFCC) May 4, 2026
Ayeni pleaded not guilty to all charges when they were read to him.
Following his plea, the prosecution urged the court to remand him in a correctional facility pending trial, while defence counsel, Ahmed Raji Bashir, SAN, objected, arguing that the charges were served on a public holiday and seeking bail or release to counsel.
The court, presided over by Justice Jude Onwuzuruike, has adjourned the bail application hearing to May 13, 2026, and ordered the defendant’s remand at Kuje Correctional Centre pending the outcome.
