Former chairman of Skye Bank Plc, Tunde Ayeni, has been remanded at the Kuje Correctional Centre following his arraignment before the Federal High Court in Abuja.
The court ordered his remand after adjourning ruling on his bail application to May 13, 2026.
FCC Charges and Arrest
Ayeni was recently arrested by operatives of the Economic and Financial Crimes Commission (EFCC) over allegations of large-scale financial misconduct involving billions of naira.
He was reportedly picked up in Abuja on April 23 and later arraigned on a 17-count charge bordering on:
- criminal breach of trust
- unlawful withdrawals
- diversion of depositors’ funds
According to prosecutors, the alleged actions contributed to the eventual collapse and liquidation of the bank.
Details of the Alleged Transactions
Court documents reveal that Ayeni allegedly authorized multiple transfers from the bank’s suspense account to various companies between 2014 and 2016.
Some of the transactions listed include:
- ₦554 million to Capital Assets Limited
- ₦850 million to Capital Field Investment and Trust Limited
- ₦3.2 billion to Misa Limited
- ₦600 million to Harigold Ventures Limited
- ₦5.07 billion to Union Registrar Limited
- ₦1 billion to Beks Kimse Limited
- ₦350 million to Suis Properties Limited
- ₦400 million to Ridge Associate Limited
- ₦200 million to Georgetown Capital Partners Limited
- ₦300 million to Speedy Print Limited
In addition, one count alleges that he personally withdrew ₦2.475 billion in cash from the bank’s accounts.
Prosecution’s Position
The EFCC maintains that these transactions were carried out without proper authorization and in violation of banking regulations and prudential guidelines.
Prosecutors argue that the pattern of transactions shows deliberate misappropriation of funds, punishable under provisions of Nigerian law.
The case is being handled by a team of EFCC lawyers, including senior advocates leading the prosecution.
What Happens Next
With Ayeni now in custody at Kuje Correctional Centre, attention shifts to the upcoming bail ruling and the substantive trial.
The case is expected to be closely followed, as it touches on issues of:
- corporate governance
- accountability in the banking sector
- protection of depositors’ funds
For many observers, the outcome could signal how seriously financial crimes at high levels are treated in Nigeria.