A Federal Capital Territory High Court in Apo, Abuja, on Monday remanded a former chairman of the defunct Skye Bank Plc, Tunde Ayeni, in the Kuje Correctional Centre over alleged N15.6bn fraud.
- +N15.6bn fraud: Court remands Ex-Skye Bank chair in Kuje
Ayeni was arraigned by the Economic and Financial Crimes Commission before Justice Jude Onwuzuruike on 17 charges bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds amounting to N15,665,085,429.
Ayeni was arraigned by the Economic and Financial Crimes Commission before Justice Jude Onwuzuruike on 17 charges bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds amounting to N15,665,085,429.
A statement by the EFCC spokesman, Dele Oyewale, said the prosecution counsel, E.E. Iheanacho (SAN), told the court that the matter was set for arraignment and that the prosecution was ready to proceed to trial.
“We have before the court a 17-count charge dated April 28, 2026.
We humbly apply that the charge be read to the defendant,” Iheanacho said.
However, the defence counsel, Ahmed Bashir (SAN), informed the court that the charge had been served on the defendant on a public holiday, noting that he considered it necessary to draw the court’s attention to the development.
After the charges were read, Ayeni pleaded not guilty to all counts.
One of the counts alleged that Ayeni, while serving as chairman of Skye Bank between October and November 2014, dishonestly misappropriated over N3.2bn from depositors’ funds in the bank’s suspense account by transferring the money to accounts belonging to Misa Limited.
Another count accused him of misappropriating N5.07bn in November 2014 by transferring the funds to an account belonging to Union Registrar Limited, in violation of banking regulations.
Following his plea, the prosecution urged the court to fix a trial date and remand the defendant to a correctional facility.
“In view of the not-guilty plea, we apply for a trial date and pray that the defendant be remanded in the correctional centre,” Iheanacho added.
The defence, however, urged the court to release Ayeni to counsel or return him to the custody of the EFCC.
Justice Onwuzuruike subsequently adjourned the case to May 13, 2026, for the hearing of the bail application and ordered that the defendant be remanded in the Kuje Correctional Centre pending the determination of his bail.
Ayeni was arrested in Abuja penultimate Thursday by EFCC operatives over allegations of money laundering, misappropriation, and diversion of funds.
