Tunde Ayeni, former Chairman of the defunct Skye Bank Plc, was on Monday, May 4, 2026, arraigned before Justice Jude Onwuzuruike of the Federal Capital Territory High Court in Apo, Abuja, on 17 counts of criminal breach of trust, misappropriation, and conversion of investors' funds totaling over N15.6 billion.
The Economic and Financial Crimes Commission (EFCC) presented a 17-count charge, dated April 28, 2026, accusing Ayeni of various financial misconducts during his tenure.
Among the charges, count three alleges that between October and November 2014, Ayeni dishonestly misappropriated N3.2 billion from Skye Bank's Suspense Account by transferring it to Misa Limited, in violation of banking regulations.
Similarly, count five details another alleged misappropriation of N5.078 billion in November 2014, transferred to Union Registrar Limited.
Prosecution counsel E.E. Iheanacho, SAN, informed the court that the prosecution was ready for trial and requested the charges be read to the defendant. Ayeni, however, pleaded "not guilty" to all charges.
Following his plea, Iheanacho sought a trial date and moved for Ayeni's remand in a Correctional Centre. Defence counsel, Ahmed Raji Bashir, SAN, highlighted that the charges were served on a public holiday and requested Ayeni's release to him or his return to EFCC custody.
Justice Onwuzuruike subsequently adjourned the case to May 13, 2026, for the hearing of the bail application.
Prosecution counsel E.E. Iheanacho, SAN, informed the court that the prosecution was ready for trial and requested the charges be read to the defendant. Ayeni, however, pleaded "not guilty" to all charges.
Following his plea, Iheanacho sought a trial date and moved for Ayeni's remand in a Correctional Centre. Defence counsel, Ahmed Raji Bashir, SAN, highlighted that the charges were served on a public holiday and requested Ayeni's release to him or his return to EFCC custody.
Justice Onwuzuruike subsequently adjourned the case to May 13, 2026, for the hearing of the bail application.
Ayeni has been remanded at the Kuje Correctional Centre until the bail application is determined.
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