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EFCC Re-Arraigns Ex-Skye Bank Chairman Tunde Ayeni Over Alleged N15.3bn Fraud
The Economic and Financial Crimes Commission, EFCC, on Wednesday, November 11, 2026, re-arraigned a former Chairman of defunct Skye Bank, Tunde Ayeni, before Justice H. Mu’azu of the Federal Capital Territory High Court, Maitama, over alleged N15.3 billion fraud.
Ayeni was re-arraigned on an existing 18-count charge bordering on criminal breach of trust, misappropriation and diversion of funds to the tune of N15,391,093,665.
The re-arraignment before Justice Mu’azu followed the transfer of the case from Justice Jude Onwuegbuzie of the FCT High Court, Apo, before whom Ayeni had previously been arraigned.The EFCC alleges that Ayeni, while chairman of the defunct Skye Bank Plc, now Polaris Bank Limited, dishonestly misappropriated depositors’ funds domiciled in the bank’s Suspense Account.
In one of the counts, the Commission alleges that on or about November 20, 2014, Ayeni directed the transfer of N3,113,543,665.42 to Misa Limited’s account with Zenith Bank.
In another count, the EFCC alleges that on or about December 2, 2014, he directed the transfer of N5,078,550,000 to Greenwich Registrars’ account with Union Bank.
The defendant pleaded “not guilty” when the charges were read to him.
Following his plea, prosecution counsel, Abba Muhammed, SAN, requested a trial date.
Defence counsel, E. Inegedu, SAN, appealed to the court to maintain the bail conditions previously granted to the defendant in May, 2026.
He told the court that Ayeni had consistently attended proceedings and had not breached the terms of his bail, including the requirement to submit his international passport and provide sureties.
Responding, the prosecution counsel said he would leave the issue of bail to the discretion of the court.
Justice Mu’azu subsequently adjourned the case until January 19, 2027, for commencement of trial.
ALSO READ: N15.6bn Fraud: Why EFCC Re-Arraigns Ex-Skye Bank Boss Tunde Ayeni on Fresh Charges
EFCC Re-Arraigns Ex-Skye Bank Chairman Tunde Ayeni Over Alleged N15.3bn Fraud
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