A former Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, Mr. Tunde Ayeni, has been re-arraigned by the Economic and Financial Crimes Commission (EFCC) before the Federal Capital Territory High Court, Apo, Abuja, over an alleged N15.6 billion fraud.
According to an official signed statement by the Head of Media and Publicity of the EFCC, Dele Oyewale, Ayeni was re-arraigned on Monday before Justice Jude Onwuegbuzie on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds.
The Commission disclosed that the amended charge followed the filing of additional proof of evidence in the case.
At the proceedings, prosecution counsel, Abba Mohammed, SAN, informed the court that the amended charge and additional proof of evidence were filed on June 22, 2026.
Responding, defence counsel, Abdul Mohammed, SAN, confirmed that he had been duly served with the amended charge.
One of the counts alleged that Ayeni, while serving as Chairman of the Board of Directors of Skye Bank Plc on September 18, 2014, dishonestly misappropriated N510 million from depositors’ funds domiciled in the bank’s suspense account by transferring the money to the account of Capital Field Investment Group Limited, contrary to the bank’s operational policy guidelines.
Another count accused him of allegedly diverting N600 million from the same suspense account on September 23, 2014, through a transfer to the account of Harigold Ventures Limited domiciled with Sterling Bank.
The EFCC alleged that the transactions constituted criminal breach of trust and were carried out in violation of relevant provisions of the Penal Code.
When the amended charges were read, 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 amendment by the prosecution.
Following his plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of trial.
