Tunde Ayeni Granted N200m Bail in N15.7bn Fraud Case

Tunde Ayeni, the former chairman of the board of directors of Skye Bank PLC, was granted bail of N200 million by Justice Jude Onwuzuruike of an Abuja High Court on Monday. Ayeni is facing a trial involving 17 counts of alleged fraud totaling N15.7 billion, brought against him by the Economic and Financial Crimes Commission (EFCC).

He pleaded not guilty to all charges. His lawyer, Dele Adesina, SAN, successfully applied for bail, despite opposition from the prosecution represented by G.

Ind. The court emphasized the presumption of innocence until proven guilty and set conditions for the bail, including two sureties who are federal civil servants and a property worth N500 million.

Additionally, a bank guarantee of N15 billion was required. The EFCC had previously tried Ayeni in 2019 on similar charges, where he and Timothy Oguntayo also pleaded not guilty.

Ayeni's counsel argued that the transactions under investigation were legitimate banking activities and not criminal diversions of funds.