Ex-Skye Bank Chairman re-arraigned over alleged N15.6 billion fraud

Tunde Ayeni, the former Chairman of the Board of Directors of the defunct Skye Bank Plc, has been re-arraigned before the FCT High Court in Abuja on charges of alleged N15.6 billion fraud. The Economic and Financial Crimes Commission (EFCC) brought the case, accusing Ayeni of criminal breach of trust, misappropriation, and diversion of funds.

The EFCC had initially arraigned Ayeni on May 4 on 17 counts. However, additional evidence led to an amendment of the charges to 18 counts, necessitating the re-arraignment. The prosecution alleges that Ayeni misappropriated N510 million in September 2014 by transferring it to Capital Field Investment Group Limited's account. Another N600 million was allegedly transferred to Harigold Ventures Limited's account.

According to the EFCC, Ayeni's actions violated the defunct Skye Bank Plc Operational Policy Manual. The charges are framed under Section 311 of the Penal Code, with a potential punishment of imprisonment, a fine, or both upon conviction. Ayeni pleaded not guilty to all allegations.

This case adds to a growing list of financial sector professionals facing fraud charges. The trial judge, Jude Onwuegbuzie, has adjourned the case to July 6 for the commencement of trial. In May, the EFCC also arraigned Blessing Gozi-Anyaokei, managing director of Viscount Microfinance Bank, on fraud charges.