EFCC Charges Ex-Skye Bank MD Tunde Ayeni with Fraud

Tunde Ayeni, the former Managing Director of the defunct Skye Bank PLC, was arraigned by the Economic and Financial Crimes Commission (EFCC) on Monday, facing 17 counts of alleged fraud amounting to N15.6 billion. The arraignment took place before Justice Jude Onwuzuruike at the High Court in the Federal Capital Territory, Abuja.

The charges include criminal breach of trust and misappropriation of investor funds, specifically N15,665,085,429. Ayeni, who served as chairman of the board of Skye Bank from October 21, 2014, to November 19, 2014, is accused of misappropriating funds from the bank's suspended accounts.

He pleaded not guilty to all charges. The EFCC's lawyer, Ekel Iheanacho, informed the court that the prosecution was ready for trial, which is scheduled to commence on April 28, 2026.

Ayeni's lawyer, Ahm Raji, requested the court to consider the public holiday in relation to the charges. The court has adjourned the matter to May 13, 2026, to hear the bail application, while Ayeni remains in custody at Kuje Correctional Centre.