The Economic and Financial Crimes Commission on Monday re-arraigned a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, before the Federal Capital Territory High Court in Abuja over alleged ₦15.6 billion fraud.
Ayeni was re-arraigned before Justice Jude Onwuegbuzie on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds belonging to the defunct Skye Bank Plc, now Polaris Bank Limited.
The EFCC had earlier arraigned him on May 4 on 17 counts, after which the court ordered his remand at the Kuje Correctional Centre in Abuja.
However, the anti-graft agency amended the charge to 18 counts following what it described as additional evidence, leading to his re-arraignment on Monday.
According to the EFCC, Ayeni allegedly misappropriated funds while serving as Chairman of the Board of Directors of Skye Bank Plc.
One of the counts alleged that in September 2014, he misappropriated ₦510 million by transferring the money to Capital Field Investment Group Limited’s account domiciled with Skye Bank.
The commission also alleged that the defendant transferred ₦600 million to Harigold Ventures Limited’s account.
The EFCC maintained that the transactions violated the operational policy manual of the defunct Skye Bank Plc and amounted to criminal breach of trust under Sections 311 and 312 of the Penal Code.
Section 311 of the Penal Code defines criminal breach of trust as the dishonest misappropriation or conversion of property by a person entrusted with such property or having dominion over it, in violation of law or any legal contract governing the trust.
The offence is punishable under Section 312 of the Penal Code.
When the amended charge was read to him, Ayeni pleaded guilty to all the allegations.
Following the plea, Justice Onwuegbuzie adjourned the matter until July 6, 2026, for commencement of trial.
The case adds to a growing list of prosecutions by the EFCC involving alleged financial misconduct in the banking and financial services sector.