ENUGU, Nigeria (VOICE OF NAIJA)- A former Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited, Tunde Ayeni, was on Monday re-arraigned by the Economic and Financial Crimes Commission (EFCC), before the Federal Capital Territory High Court in Apo, Abuja, over an alleged N15.6 billion fraud.
Ayeni appeared before Justice Jude Onwuegbuzie on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion.
According to a statement issued by the EFCC spokesperson, Dele Oyewale, the re-arraignment followed the anti-graft agency’s submission of additional proof of evidence in the matter.
During the proceedings, prosecution counsel, Abba Muhammed, informed the court that the prosecution had filed an amended charge alongside additional proof of evidence on June 22, 2026.
Counsel to the defendant, Abdul Mohammed, confirmed to the court that he had been duly served with the amended charge.
One of the counts alleged that Ayeni, while serving as Chairman of the Board of Directors of the defunct Skye Bank Plc, dishonestly misappropriated N510 million from depositors’ funds held in the bank’s suspense account on or about September 18, 2014.
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The EFCC alleged that the money was transferred to the account of Capital Field Investment Group Limited and that the transaction violated the bank’s Operational Policy Manual.
The charge stated: “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 (N510,000,000) by transferring same to Capital Field Investment Group Limited’s account No:1770125552 domiciled with Skye Bank in violation of the defunct Skye Bank Plc Operational Policy Manual and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”
Another count accused the former bank chairman of misappropriating N600 million from the bank’s suspense account on September 23, 2014, by transferring the funds to Harigold Ventures Limited’s account with Sterling Bank, also allegedly in breach of the bank’s operational guidelines.
Count five of the charge 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 23rd 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 Six Hundred Million Naira (N600,000,000) by transferring same to Harigold Ventures Limited’s account No:0000834983 domiciled with Sterling Bank in violation of the defunct Skye Bank Plc Operational Policy Manual and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”
Ayeni pleaded not guilty to all 18 counts when the charges were read to him.
The former bank chairman was initially arraigned on May 4, 2026, on a 17-count charge before the court.
Following his plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of trial.