The Economic and Financial Crimes Commission (EFCC) has formally re-arraigned the former chairman of the defunct Skye Bank Plc, Tunde Ayeni, before Justice H. Mu’azu of the Federal Capital Territory High Court, Maitama. The proceedings mark a fresh chapter in the ongoing legal battle concerning substantial allegations of financial impropriety.
According to a statement released by the commission on Wednesday, Mr. Ayeni faces an 18-count charge, which includes serious allegations of criminal breach of trust, the misappropriation of assets, and the illegal diversion of funds amounting to N15,391,093,665. The re-arraignment was necessitated by the administrative transfer of the case from the FCT High Court in Apo, where it was previously presided over by Justice Jude Onwuegbuzie.
The core of the prosecution’s case centres on financial activities allegedly carried out by Mr. Ayeni in his capacity as the board chairman of the bank in late 2014. Specifically, the EFCC contends that on November 20, 2014, in Abuja, the defendant orchestrated a criminal breach of trust by misappropriating over N3 billion through a transfer to an account held by Misa Limited at Zenith Bank. Furthermore, authorities allege that on December 2, 2014, he facilitated the diversion of an additional N5 billion, which was routed into an account belonging to Greenwich Registrar at Union Bank.
Following the reading of the charges, Mr. Ayeni pleaded not guilty. The prosecution, led by Abba Muhammed, immediately sought the setting of a trial date. In response, the defence team, represented by E. Inegedu, appealed to the court to allow the defendant to retain the bail conditions that were originally granted to him in May of this year.
In his submission, Mr. Inegedu emphasized that his client has maintained an exemplary record of compliance, consistently attending all court sessions and strictly adhering to all stipulated bail terms, including the deposit of his international passport and the provision of required sureties. Both the prosecution and the defence acknowledged that there have been no documented infractions regarding the defendant’s bail status.
Presiding over the matter, Justice H. Mu’azu granted the request to maintain the existing bail conditions and subsequently adjourned the proceedings until January 19, 2027, for the commencement of the trial.
Source: NaijaProbe