EFCC arrests ex-Skye Bank chairman Tunde Ayeni over alleged N36.54bn, $30m fraud

OPERATIVES of the Economic and Financial Crimes Commission (EFCC) have taken into custody former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over allegations involving money laundering, diversion, and misappropriation of funds totalling N36.54 billion and $30 million.

Ayeni was apprehended in Abuja on Thursday and is currently being detained at the EFCC’s facility as investigations continue.

His arrest follows an ongoing probe by the anti-graft agency into claims that large sums were fraudulently obtained through multiple companies linked to him from Polaris Bank.

According to EFCC sources, the funds were initially secured as loans for designated investment projects but were allegedly redirected into other accounts controlled by associated entities.

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The investigation further revealed that the loans, which were meant to finance ventures such as marine security operations, electricity distribution contracts, and real estate development, were instead channelled into the acquisition of telecom assets via a NATCOM account linked to the NITEL/MTEL deal.

Another source disclosed that about 12 companies connected to Ayeni are currently under scrutiny, with investigators alleging they were used as vehicles to secure the loans from Polaris Bank.

“These entities were allegedly used to access depositors’ funds under false pretences, which were then diverted for unrelated and questionable uses. Ayeni will be charged in court once investigations are concluded,” the source told The Punch.

When contacted, EFCC spokesperson, Mr Dele Oyewale, confirmed the arrest but did not provide additional details.