EFCC Arrests Tunde Ayeni for Multi-Billion Naira Fraud

The Economic and Financial Crimes Commission (EFCC) has arrested Tunde Ayeni, the former chairman of the defunct Skye Bank Plc, in connection with allegations of multi-billion naira fraud. The investigation is centered around an estimated ₦36.5 billion, which was allegedly misappropriated through various means.

Ayeni is accused of diverting funds obtained from loans meant to finance specific projects, including marine security and electricity distribution contracts, into personal accounts for unauthorized purposes. The loans were reportedly linked to Polari Bank Plc, and the EFCC is investigating 12 companies associated with Ayeni regarding these allegations.

Following the completion of the investigation, Ayeni is expected to be arraigned. An EFCC spokesperson confirmed the arrest but did not provide further details.

Additionally, the EFCC has urged the Federal High Court in Abuja to order the permanent forfeiture of 57 properties allegedly linked to a former Attorney General of the Federation.