EFCC Nabs Ex-Skye Bank Chairman Tunde Ayeni In Fresh Crackdown

The Economic and Financial Crimes Commission (EFCC) has arrested the former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, over allegations bordering on a multi-billion naira fraud scheme.

According to Ireporter Online, Ayeni is currently under investigation over the alleged diversion and misappropriation of funds estimated at ₦36.5 billion and $30 million, said to have been obtained from Polaris Bank Plc through companies allegedly linked to him.

Sources familiar with the development disclosed that the funds, which were reportedly secured as loans for specific projects, were allegedly diverted into unrelated accounts and used for other purposes. The loans were initially intended to finance projects such as marine security operations, electricity distribution contracts, and estate development, but were allegedly redirected into the acquisition of telecommunications assets associated with NITEL/MTEL through a NATCOM-linked account.

The report further indicated that about 12 companies allegedly connected to Ayeni are being scrutinised by the anti-graft agency over their role in obtaining the loans from Polaris Bank.

Ayeni was reportedly picked up in Abuja on Thursday and remains in EFCC custody as investigations continue. He is expected to be arraigned in court upon the conclusion of the ongoing probe.

The EFCC spokesperson, Dele Oyewale, confirmed the arrest when contacted but declined to provide further details.

In a related development, the EFCC has also urged the Federal High Court in Abuja to grant a permanent forfeiture of 57 properties allegedly linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to the Federal Government. The request was contained in a motion on notice filed by the commission’s legal team before Justice Joyce Abdulmalik in a suit involving Malami and several other respondents.