Court Remands Ex-Skye Bank Chairman Tunde Ayeni Over Alleged N15.6bn Fraud  

By Victor Idajili

 A High Court in the Federal Capital Territory has ordered the remand of Tunde Ayeni, former chairman of the defunct Skye Bank Plc, in Kuje Correctional Centre over alleged N15.6 billion fraud.  

Justice Jude Onwuzuruike gave the order on Monday at the Apo Division of the court after Ayeni was arraigned on a 17-count charge. The charges include criminal breach of trust, misappropriation, and diversion of investors’ funds totaling N15,665,085,429.  

Ayeni pleaded not guilty to all counts when they were read to him.  

EFCC spokesman Dele Oyewale said lead prosecutor Ekele Iheanacho, SAN, asked the court to set a date for trial and remand the defendant in prison pending the hearing of his bail application.  

Defence counsel Ahmed Raji, SAN, had urged the court to release Ayeni to him or return him to EFCC custody, where he was brought from.  

Justice Onwuzuruike rejected the request and remanded Ayeni in Kuje prison until the bail application is decided. The case was adjourned to May 13 for further hearing.  

One of the charges, count three, alleges that Ayeni, while serving as Skye Bank chairman between October 21 and November 19, 2014, dishonestly moved N3,201,535,429.42 from depositors’ funds in the bank’s suspense account to Misa Limited’s accounts at Zenith Bank, in breach of prudential guidelines.  

Count five alleges that on or about November 27, 2014, he diverted another N5,078,550,000 from the same suspense account to Union Registrar Limited’s account at Union Bank.  

The EFCC said both acts amount to criminal breach of trust under Section 311 of the Penal Code and are punishable under Section 312.