TDThe Economic and Financial Crimes Commission (EFCC) on Monday, June 22, 2026, re-arraigned former Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, Tunde Ayeni, before Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja, over an alleged N15.6 billion fraud.
Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion.
The amended charges followed the EFCC’s submission of additional proof of evidence in the case.
At Monday’s proceedings, counsel to the prosecution, Abba Mohammed, SAN, informed the court that the anti-graft agency had filed an amended charge along with additional proof of evidence on June 22, 2026.
Responding, defence counsel, Abdul Mohammed, SAN, confirmed that the amended charge had been duly served on his client.
One of the charges, Count Three, alleges that Ayeni, while serving as Chairman of the Board of Directors of the defunct Skye Bank Plc, dishonestly misappropriated N510 million from depositors’ funds domiciled in the bank’s suspense account.
The EFCC alleged that the funds were transferred on September 18, 2014, to Capital Field Investment Group Limited’s account with Skye Bank in violation of the bank’s Operational Policy Manual.
The charge stated that the alleged act constituted a criminal breach of trust contrary to Section 311 of the Penal Code and punishable under Section 312 of the same law.
Similarly, Count Five alleges that Ayeni, on September 23, 2014, dishonestly transferred N600 million from the bank’s suspense account to Harigold Ventures Limited’s account with Sterling Bank, also in alleged violation of the bank’s Operational Policy Manual.
According to the EFCC, the transaction amounted to criminal breach of trust under the provisions of the Penal Code.
When the amended charges were read to him, Ayeni pleaded not guilty to all 18 counts.
The former bank chairman was initially arraigned on May 4, 2026, on a 17-count charge before the court.
Following his plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of trial.
