The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned former Chairman of the defunct Skye Bank, Tunde Ayeni, before the Federal Capital Territory High Court in Abuja over alleged multi-billion Naira fraud.
Ayeni was docked on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds estimated at N15.6 billion.
The anti-graft agency told the court that the alleged offences were committed between 2014 and 2015 while he served as Chairman of the bank’s board.
According to the prosecution, Ayeni allegedly diverted substantial sums from the bank’s suspense account into private companies, in contravention of established banking regulations and fiduciary responsibilities expected of top financial executives. The charges underscore regulatory concerns over corporate governance practices in financial institutions during the period under review.
The defendant, however, pleaded not guilty to all the charges when they were read in court.
Following his plea, prosecution counsel urged the court to remand Ayeni in custody pending trial, while the defence team sought bail or, in the alternative, administrative release.
After listening to both sides, the presiding judge adjourned the matter to May 13, 2026, for the hearing of the bail application and ordered that the defendant be remanded at the Kuje Correctional Centre pending further proceedings.