The Economic and Financial Crimes Commission (EFCC) has rearraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, over an alleged fraud involving ₦15,665,085,429.
ThelensNG reports that the EFCC had arraigned Ayeni on May 4 before Justice Jude Onwuzuruike of the Federal Capital Territory (FCT) High Court, Apo, Abuja, on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds amounting to ₦15,665,085,429.
The Commission announced on Monday that it rearraigned Ayeni on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to ₦15.6 billion following the submission of additional evidence.
During the proceedings, prosecution counsel, Abba Muhammed, SAN, informed the court of the amended charge and additional evidence filed on June 22, 2026.
In response, defence counsel, Abdul Mohammed, SAN, confirmed that he had been duly served with the amended charge.
Count three of the charge reads “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited), on or about the 18th of September, 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 sum of Five Hundred and Ten Million Naira (₦510,000,000) by transferring same to Capital Field Investment Group Limited’s account No: 1770125552 domiciled with Skye Bank, in violation of the defunct Skye Bank Plc Operational Policy Manual, and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of same Act.”
Count five also reads, “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited), on or about the 23rd September, 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 sum of Six Hundred Million Naira (₦600,000,000) by transferring same to Harigold Ventures Limited’s account No: 0000834983 domiciled with Sterling Bank, in violation of the defunct Skye Bank Plc Operational Policy Manual, 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 18 charges when they were read to him.
Justice Onwuzuruike subsequently adjourned the matter until July 6, 2026, for the commencement of trial.
