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The Economic and Financial Crimes Commission (EFCC) has arraigned former chairman of the defunct Skye Bank Plc, Tunde Ayeni, before the Federal Capital Territory High Court in Abuja over an alleged ₦15.6 billion fraud case. He was docked on a 17-count charge bordering on criminal breach of trust, misappropriation, and conversion of investors’ funds allegedly committed during his time as chairman of the bank’s board in 2014. 
According to the prosecution, Ayeni allegedly authorised the transfer of billions of naira from the bank’s suspense accounts to private company accounts, including transactions involving over ₦3.2 billion and ₦5.07 billion, said to be in violation of banking regulations and prudential guidelines. The anti-graft agency argued that the transfers amounted to a deliberate abuse of depositors’ funds under his supervision. 
Ayeni pleaded not guilty to all charges when they were read in court. Following his plea, the prosecution requested that he be remanded pending trial, while his defence counsel sought either his release to legal custody or a return to EFCC custody, arguing that the charges had been served on a public holiday. 
Justice Jude Onwuzuruike adjourned the matter until May 13, 2026, for hearing of his bail application and ordered that the former bank chief be remanded at the Kuje Correctional Centre pending further proceedings. The case is expected to draw major attention as one of the latest high-profile financial crime prosecutions involving Nigeria’s banking sector. 
