He was reportedly picked up in Abuja on Thursday, April 23, and subsequently interrogated by EFCC investigators over the allegations before being arraigned in court.
Former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, has been remanded at Kuje Correctional Centre following proceedings at the Federal High Court in Abuja.
His remand comes after the court adjourned ruling on his bail application to May 13, 2026.
In April, operatives of the Economic and Financial Crimes Commission (EFCC) arrested Ayeni as part of investigations into an alleged large-scale financial misconduct involving billions of naira.
He was reportedly picked up in Abuja on Thursday, April 23, and subsequently interrogated by EFCC investigators over the allegations before being arraigned in court.
Meanwhile, the EFCC has filed a multi-count charge against Ayeni, accusing him of orchestrating a series of financial transactions that allegedly led to the diversion of billions of naira in depositors’ funds.
The charges, filed before the High Court of the Federal Capital Territory in Abuja, on April 28, 2026, span 17 counts bordering on criminal breach of trust and unlawful withdrawals.
According to the charge sheet obtained by SaharaReporters, Ayeni allegedly used his position as chairman to authorise transfers from the bank’s suspense account into accounts linked to multiple companies between 2014 and 2016.
The EFCC alleged in several counts that Ayeni, “committed criminal breach of trust” by moving large sums in violation of prudential guidelines.
The charges detail multiple transactions, including: N554 million transferred to Capital Assets Limited; N850 million to Capital Field Investment and Trust Limited; N3.2 billion to Misa Limited in multiple tranches; N600 million to Harigold Ventures Limited; and N5.07 billion to Union Registrar Limited.
In addition to these transfers, the EFCC accused Ayeni of authorising payments to several other firms, including: N1 billion to Beks Kimse Limited; N350 million to Suis Properties Limited; N10 million to Jodes Nigeria Limited; N400 million to Ridge Associate Limited; N50 million to Hades Meridian Limited; N200 million to Georgetown Capital Partners Limited and N300 million to Speedy Print Limited.
One of the counts also alleges direct cash handling, stating that Ayeni “dishonestly took by withdrawing in cash the aggregate sum of N2.475 billion” from the bank’s suspense account.
The EFCC maintains that all the transactions were carried out without proper authorisation and in breach of banking regulations, describing them as deliberate acts of misappropriation.
Across the counts, the prosecution repeatedly argued that the alleged actions were “in violation of the Prudential Guidelines and other regulations,” making them punishable under relevant provisions of the Penal Code.
The alleged offences occurred on different dates between September 2014 and March 2016, within the jurisdiction of the Federal Capital Territory.
The charges were filed by a team of EFCC lawyers led by senior advocates, including Abba Muhammed (SAN) and Ekele Iheanacho (SAN).
The EFCC’s charge sheet details a pattern of alleged fraudulent transactions said to have been carried out by Ayeni while serving as Chairman of the defunct Skye Bank Plc, involving multiple corporate beneficiaries and transfers spanning 2014 to 2016.
In the first count, he is accused of diverting N554 million from the bank’s suspense account to Capital Assets Limited. In the second count, he allegedly transferred N850 million to Capital Field Investment and Trust Limited.
The prosecution further alleges that between October and November 2014, Ayeni authorised a series of large transfers, including N3.2 billion to Misa Limited, which forms one of the most substantial allegations in the charge sheet.
He is also accused of transferring N600 million to Harigold Ventures Limited, followed by another major transaction involving N5.078 billion moved to Union Registrar Limited in November 2014.
In a separate allegation involving another company, Ayeni was said to have diverted N1 billion to Beks Kimse Limited through the same period of alleged irregular banking activities.
The EFCC further charged that he transferred N350 million to Suis Properties Limited, allegedly in breach of banking regulations governing depositor funds.
One of the counts also focuses on a non-transfer transaction, alleging that Ayeni directly withdrew N2.475 billion in cash from the bank’s suspense account between October and November 2014.
Further allegations include the diversion of N10 million to Jodes Nigeria Limited in February 2015, as well as a series of additional transfers to other firms.
These include N400 million allegedly paid to Ridge Associate Limited, N50 million to Hades Meridian Limited, and N200 million to Georgetown Capital Partners Limited.
In another count, the EFCC accused him of transferring N300 million to Speedy Print Limited in March 2016.
Across the charges, the prosecution also detailed earlier and related transactions within the same alleged scheme, including multiple transfers linked to the same pattern of movement of funds from the bank’s suspense account to private entities.
Collectively, the 17 counts accuse Ayeni of criminal breach of trust and unlawful diversion of depositors’ funds, with the EFCC alleging that all transactions were carried out in violation of banking regulations and prudential guidelines.
The charges, brought under Sections 311 and 312 of the Penal Code, span multiple dates between September 2014 and March 2016, all within the jurisdiction of the Federal Capital Territory.