N15.6bn fraud: EFCC re-arraigns former skye bank chairman
The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned the former Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, Tunde Ayeni, over an alleged N15.6 billion fraud.
Ayeni was re-arraigned before Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court sitting in Apo, Abuja, on an amended 18-count charge bordering on criminal breach of trust, misappropriation, and diversion of funds.
According to the anti-graft agency, the amended charges followed the filing of additional proof of evidence on June 22, 2026. The EFCC disclosed this in a statement posted on its official X handle on Monday.
During the court proceedings, prosecution counsel, Abba Mohammed (SAN), informed the court of the amended charges, while defence counsel, Abdul Mohammed (SAN), confirmed receipt of the relevant documents.
The amended charge sheet detailed alleged unauthorized transfers from the bank’s suspense account during Ayeni’s tenure as chairman.
One of the charges alleged that on September 18, 2014, Ayeni dishonestly misappropriated N510 million from depositors’ funds domiciled in Skye Bank’s suspense account by transferring the money to Capital Field Investment Group Limited’s account.
Another charge accused him of transferring N600 million from the same account to Harigold Ventures Limited’s account with Sterling Bank on September 23, 2014, an action the prosecution described as a criminal breach of trust.
The EFCC maintained that the alleged transactions contravened the bank’s internal regulations and constituted offences punishable under Sections 311 and 312 of the Penal Code.
Ayeni pleaded not guilty to all 18 counts when they were read to him in court.
The former bank chairman was initially arraigned on May 4, 2026, on a 17-count charge before the EFCC subsequently amended the charges and increased them to 18 counts.
