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Former Skye Bank chairman Tunde Ayeni re-arraigned on N15.6 billion fraud charges
via Punch Nigeria2 min read
Tunde Ayeni, former Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, was re-arraigned by the Economic and Financial Crimes Commission EFCC before the Federal Capital Territory High Court in Apo, Abuja. He faces 18 amended charges related to alleged criminal breach of trust, misappropriation, and diversion of funds totaling N15.6 billion. The re-arraignment follows the EFCC's submission of additional proof of evidence. Prosecution counsel Abba Muhammed informed the court that an amended charge and additional proof of evidence were filed on June 22, 2026, which defence counsel Abdul Mohammed confirmed receiving. One charge alleges that on September 18, 2014, Ayeni misappropriated N510 million from depositors' funds by transferring it to Capital Field Investment Group Limited, violating the bank's Operational Policy Manual. Another count claims that on September 23, 2014, Ayeni misappropriated N600 million from the bank's suspense account by transferring it to Harigold Ventures Limited, also in violation of the bank's policy. Ayeni pleaded not guilty to all 18 counts. He was initially arraigned on May 4, 2026, on a 17-count charge. Justice Onwuegbuzie adjourned the case until July 6, 2026, for the commencement of the trial.
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