Former Skye Bank chairman Tunde Ayeni arrested over N36.54bn and $30m fraud allegations
via Punch Nigeria1 min read
Tunde Ayeni, former chairman of the defunct Skye Bank Plc and a businessman, has been arrested by operatives of the Economic and Financial Crimes Commission EFCC in Abuja. He is being held at the commission's facility in connection with alleged money laundering, misappropriation, and diversion of funds totaling N36.54 billion and $30 million. The arrest follows an EFCC investigation into the alleged misappropriation and diversion of funds obtained from Polaris Bank through various entities linked to Ayeni. These funds were reportedly secured as loans for specific investment projects, including marine security activities, an electricity distribution contract, and estate development. However, investigations indicate that the loans were allegedly diverted to the NITEL/MTEL asset acquisition via a NATCOM account. The EFCC is currently investigating 12 companies reportedly linked to Ayeni, which were allegedly used to obtain these loans from Polaris Bank. An EFCC source stated that these loans, described as depositors' funds, were fraudulently obtained and used for various purposes. Ayeni is expected to be arraigned following the conclusion of investigations. EFCC spokesman Dele Oyewale confirmed the arrest but did not provide further details.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Three minors, aged between four and 15, from Awun community in Oro-Ago, Irepodun Local Government Area of Kwara State, have been released after residents reportedly paid a N60 million ransom to their kidnappers. The children were abducted from their home in February while their father, Olajide Buraimoh, was absent. Community sources indicated that the ransom was raised through contributions from local residents and indigenes living abroad, following extensive negotiations. The kidnappers also demanded food items, including rice, groundnut oil, spaghetti, semovita, beer, and seasoning sauce. The fundraising effort was coordinated via the Awun community's WhatsApp platform. A pregnant woman abducted with the children was released last week, while the minors remained captive until Monday. A resident named Ismail described the significant emotional and financial impact on the community. When contacted, Kwara State Commissioner of Police, Ojo Adekimi, stated he was unaware of the abduction or any ransom payment.
Kano residents and opposition figures have criticized Governor Abba Kabir Yusuf's decision to allocate 1,540 plots of land and N100 million to leaders of the All Progressives Congress Polling Units Association. Residents expressed disappointment, citing widespread poverty and inadequate public facilities, arguing that state resources should benefit all citizens regardless of political affiliation. Ado Bala questioned the fairness of distributing land only to APC supporters, stating that land is held in trust for all residents. Another resident, Shehu, called the action a clear demonstration of favoritism and a potential case of vote-buying ahead of the 2027 general elections. Aisha Hassan urged Governor Yusuf to extend similar gestures to all residents to avoid criticism. Alhaji Musa Ungoggo, state chairman of the African Democratic Congress, alleged the move was a bribe to rig the upcoming elections, suggesting the funds should have been used to address critical issues like overcrowded primary schools and undredged dams. The state chairman of the People鈥檚 Democratic Party, Alhaji Yusuf Ado Kibiya, declined to comment, stating he needed to verify the facts as he had been out of the state.
Niger State Governor Mohammed Bago's solar energy initiative has been lauded by stakeholders for its potential to transform the state into a leading industrial destination and improve electricity supply. The project, which includes a 100-megawatt solar power plant, aims to provide an alternative electricity source for residents and industries, thereby boosting internally generated revenue and attracting investors. The Minister of Power, Joseph Tegbe, commended Governor Bago's "industrial statesmanship" for allocating 500 hectares of land for the project, foreseeing significant economic development and investment. The governor emphasized that the initiative leverages the state's gas resources and vast land, in addition to its four hydropower dams. The Federal Executive Council has approved a $160 million financing package for the Niger State Solar Energy Development Project, comprising a $150 million facility from the Islamic Development Bank and $10 million from the Niger State Government. This project is expected to expand electricity access, particularly in rural communities, and support Nigeria's renewable energy drive. The Niger State Government has already deployed solar mini-grids and other renewable energy solutions, providing 24-hour solar power to over 180 communities that previously lacked consistent electricity. Key public institutions have also transitioned to independent solar systems. The Abuja Steel Mills Limited, a subsidiary of the African Industries Group, i