The Economic and Financial Crimes Commission has re-arraigned former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, over an alleged ₦15.6 billion fraud, escalating the anti-graft agency’s case against the former banking executive.
Ayeni appeared before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Apo, Abuja, on Monday, June 22, 2026, where he was docked on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds.
The fresh arraignment followed the filing of an amended charge and additional proof of evidence by the EFCC as it moves to strengthen its case against the former bank chairman.
According to a statement issued by the Commission’s spokesman, Dele Oyewale, the prosecution informed the court that the amended charge and supplementary evidence were filed on June 22, 2026.
Lead prosecuting counsel, Abba Mohammed, drew the court’s attention to the new filings during proceedings, while Ayeni’s lawyer, Abdul Mohammed, confirmed that the defence had been duly served with the amended processes.
One of the charges alleges that Ayeni, while serving as Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, dishonestly diverted ₦510 million belonging to depositors from the bank’s suspense account on September 18, 2014.
The EFCC alleged that the funds were transferred to the account of Capital Field Investment Group Limited in violation of the bank’s Operational Policy Manual.
According to the anti-graft agency, the action constituted criminal breach of trust contrary to Section 311 of the Penal Code and is punishable under Section 312 of the same law.
Another count accuses Ayeni of misappropriating an additional ₦600 million from the bank’s suspense account on September 23, 2014, by allegedly transferring the funds to Harigold Ventures Limited’s account with Sterling Bank, also in breach of the institution’s operational guidelines.
The Commission maintains that both transactions formed part of a broader scheme involving the alleged diversion of ₦15.6 billion under Ayeni’s watch as Chairman of the bank’s board.
When the amended 18-count charge was read to him in court, Ayeni pleaded not guilty to all allegations.
The former banking executive was initially arraigned by the EFCC on May 4, 2026, on a 17-count charge before the prosecution expanded the case and filed additional evidence.
Following his plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of trial.
The case is one of several high-profile financial crime prosecutions being pursued by the EFCC involving former top executives in Nigeria’s banking sector, as the Agency intensifies efforts to recover allegedly diverted funds and hold public and private sector officials accountable for financial misconduct.
