Abuja, Nigeria — May 4, 2026
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, before Justice Jude Onwuzuruike of the Federal Capital Territory High Court, Apo, Abuja.
Ayeni is facing a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds amounting to N15,665,085,429.
Prosecution counsel, E.E. Iheanacho, informed the court that the matter was slated for arraignment and that the prosecution was ready to proceed, praying the court to allow the charges to be read.
According to the charges, the defendant allegedly misappropriated billions of naira from depositors’ funds domiciled in the bank’s suspense account while serving as chairman in 2014, through transfers to private accounts in violation of financial regulations.
Ayeni pleaded not guilty to all the charges when they were read to him.
Following his plea, the prosecution sought a trial date and urged the court to remand the defendant in a correctional facility.
Defence counsel, Ahmed Raji Bashir, informed the court that the charges were served on the defendant during a public holiday and appealed for his release either to counsel or back into EFCC custody.
Justice Onwuzuruike adjourned the matter to May 13, 2026, for hearing of the bail application and ordered that the defendant be remanded at the Kuje Correctional Centre pending the determination of his bail.
