EFCC Re-Arraigns Ex-Skye Bank Chairman Ayeni Over Alleged N15.6bn Fraud

The Economic and Financial Crimes Commission (EFCC) has re-arraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited), Tunde Ayeni, before the Federal Capital Territory High Court in Apo, Abuja over an alleged ₦15.6 billion fraud.

Ayeni was re-arraigned on Monday before Justice Jude Onwuegbuzie on an amended 18-count charge bordering on criminal breach of trust, misappropriation and diversion of funds allegedly committed during his tenure at the bank.

According to the EFCC in a post via its X handle, on Monday, June 22, the amended charge followed the presentation of additional proof of evidence filed on June 22, 2026.

At the proceedings, prosecution counsel, Abba Mohammed (SAN), informed the court of the amended charge, while defence counsel, Abdul Mohammed (SAN), confirmed he had been duly served with the documents.

Two of the counts presented in court detailed specific allegations involving alleged transfers from the bank’s suspense account.

One of the charges read: “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…”

Another count also stated: “That you Tunde Ayeni… on or about the 23rd September, 2014… committed criminal breach of trust when you dishonestly misappropriated the sum of Six Hundred Million Naira (N600,000,000) by transferring same to Harigold Ventures Limited’s account No:0000834983 domiciled with Sterling Bank…”

The anti-graft agency said the alleged acts violated the bank’s operational policies and constituted offences under Sections 311 and 312 of the Penal Code.

Ayeni, however, pleaded not guilty to all the charges when they were read to him in court.

He was first arraigned on May 4, 2026 on a 17-count charge before the amended charges were brought before the court.

Justice Onwuegbuzie adjourned the matter to July 6, 2026 for the commencement of trial.