The Economic and Financial Crimes Commission, EFCC, on Monday, June 22, 2026, re-arraigned a former Chairman of the Board of Directors of defunct Skye Bank Plc (now Polaris Bank Limited), Tunde Ayeni, before Justice Jude Onwuegbuzie of the Federal Capital Territory, FCT, High Court, Apo, Abuja, for an alleged N15.6 billion fraud.
Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion following the EFCC’s submission of additional proof of evidence.
At Monday’s proceedings, prosecution counsel, Abba Muhammed SAN, informed the court of an amended charge and additional proof of evidence filed on June 22, 2026.
In response, defense counsel, Abdul Mohammed SAN, confirmed that he was duly served with the charge.
Count three of the charge reads, “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 18th of September, 2014, at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Hundred and Ten Million Naira (510,000,000) by transferring the same to Capital Field Investment Group Limited’s account No. 1770125552 domiciled with Skye Bank in violation of the defunct Skye Bank Plc Operational Policy Manual and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the Same Act.”
Count five also reads, “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 23rd of September, 2014 at Abuja within the jurisdiction of this Honorable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Six Hundred Million Naira (N600,000,000) by transferring same to Harigold Ventures Limited’s account 0000834983 domiciled with Sterling Bank in violation of the defunct Skye Bank Plc Operational Policy Manual and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”
He pleaded not guilty to all the charges when they were read to him.
Ayeni was first arraigned on May 4, 2026, on a 17-count charge.
Justice Onwuegbuzie adjourned the matter till July 6, 2026, for commencement of trial.
