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The Economic and Financial Crimes Commission (EFCC) has re-arraigned 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 on Monday before the Federal Capital Territory High Court in Apo, Abuja, before Justice Jude Onwuegbuzie on an amended 18-count charge.
The charges include criminal breach of trust, misappropriation and diversion of funds said to have taken place during his time at the bank.
The EFCC, in a post on its X handle on Monday, said the amended charges followed additional proof of evidence filed on June 22, 2026.
At the court session, prosecution counsel, Abba Mohammed (SAN), told the court about the amended charges, while defence counsel, Abdul Mohammed (SAN), confirmed he had received the documents.
Two of the charges presented in court gave details of 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 charge 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 EFCC said the alleged actions went against the bank’s rules and amounted to offences under Sections 311 and 312 of the Penal Code.
Ayeni pleaded not guilty to all the charges when they were read in court.
He was first arraigned on May 4, 2026, on a 17-count charge before the EFCC filed the amended charges. (TRIBUNE)
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