ENUGU, Nigeria (VOICE OF NAIJA)- The Economic and Financial Crimes Commission (EFCC), has brought former chairman of the defunct Skye Bank Plc, Tunde Ayeni, before a High Court in Abuja over an alleged N15.6bn fraud.
Ayeni was docked on Monday at the Federal Capital Territory High Court sitting in Apo on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of depositors’ funds.
The anti-graft agency disclosed in a statement that the charges stem from transactions allegedly carried out during his time as chairman of the bank in 2014, involving funds totalling N15,665,085,429.
According to the commission, Ayeni abused his position by diverting depositors’ funds in violation of banking regulations and internal financial guidelines.
One of the charges presented before the court accused him of misappropriating over N3.2bn from the bank’s suspense account by transferring the funds into accounts linked to Misa Limited domiciled with Zenith Bank.
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The charge stated that the transaction, carried out between October and November 2014 in Abuja, constituted a breach of trust and contravened provisions of the Penal Code.
In a separate count, the prosecution alleged that Ayeni transferred another N5.078bn from the same suspense account to an account belonging to Union Registrar Limited with Union Bank, also in violation of regulatory provisions.
Prosecuting counsel, E.E. Iheanacho (SAN), told the court that the commission was ready to proceed with trial and applied for the charges to be formally read to the defendant.
Ayeni, however, pleaded not guilty to all 17 counts when they were read in open court.
Following his plea, the prosecution urged the court to remand him in a correctional facility pending the commencement of trial.
But defence counsel, Ahmed Raji Bashir (SAN), opposed the application, arguing that the charges were served on a public holiday and urging the court to grant bail or release the defendant to his lawyers.
Ruling on the arguments, trial judge, Jude Onwuzuruike, adjourned the case to May 13, 2026, for hearing of the bail application.
The court also ordered that Ayeni be remanded at the Kuje Correctional Centre pending the determination of his bail request.