The Economic and Financial Crimes Commission, EFCC, has re-arraigned a former Chairman of the Board of Directors of defunct Skye Bank Plc, now Polaris Bank Limited, Tunde Ayeni, over an alleged N15.6 billion fraud.
The development was disclosed during proceedings before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja on June 22, 2026.
According to the anti-graft agency, Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds amounting to N15.6 billion following the filing of additional proof of evidence.
At the resumed proceedings, prosecution counsel, Abba Mohammed, SAN, informed the court that the amended charge and supplementary proof of evidence had been filed on June 22, 2026.
Responding, defence counsel, Abdul Mohammed, SAN, confirmed that the amended charge had been served on the defence.
In one of the charges, the EFCC alleged that Ayeni, while serving as Chairman of the Board of Directors of the defunct Skye Bank Plc, dishonestly transferred N510 million from the bank’s suspense account to an account belonging to Capital Field Investment Group Limited in September 2014.
The EFCC alleged that the transfer violated the bank’s operational policy manual and formed part of the criminal breach of trust charges before the court.
The EFCC also accused Ayeni of allegedly transferring N600 million from the same suspense account to Harigold Ventures Limited in September 2014, describing the transaction as another act of criminal breach of trust.
“That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited), committed criminal breach of trust when you dishonestly misappropriated the sum of Five Hundred and Ten Million Naira (N510,000,000),” part of the charge read.
The former bank chairman pleaded not guilty to all the charges when they were read before the court.
Ayeni was initially arraigned by the EFCC on May 4, 2026, on a 17-count charge before the amendment that increased the counts to 18.
Following his plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of trial.
