Tunde Ayeni Re-arraigned for N15.6 Billion Fraud Charges

Tunde Ayeni, the former chairman of the board of directors of the defunct Skye Bank PLC and Polaris Bank Limited, was re-arraigned by the Economic and Financial Crimes Commission (EFCC) on June 22, 2026, for alleged fraud totaling N15.6 billion. This re-arraignment occurred at the FCT High Court in Apo, presided over by Justice Jude Onwuegbuzi, marking Ayeni's third court appearance regarding these charges.

The EFCC spokesperson, Dele Oyewale, stated that Ayeni faces 18 counts of criminal breach of trust and misappropriation of funds. The charges include allegations of misappropriating N3.11 billion and N5.07 billion from depositor funds while serving as chairman.

Ayeni pleaded not guilty to the charges. The prosecution, led by Abba Muhammed, expressed readiness for trial, while defense counsel Olalekan Ojo argued that the prosecution had not filed a summary of witness statements.

The court adjourned the matter until July 20, 2026, for the continuation of the trial.