The Economic and Financial Crimes Commission (EFCC) has re-arraigned the former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, before a Federal Capital Territory (FCT) High Court in Abuja on an amended 18-count charge bordering on the alleged diversion and misappropriation of ₦15.6 billion.
Ayeni was re-arraigned before Justice Jude Onwuegbuzie after the anti-graft agency amended the charges against him. The latest arraignment is the third in the case, following his previous arraignments on May 4 and June 22, 2026, during which he entered his plea.
At the resumed hearing on Thursday, the former bank chairman pleaded not guilty to all 18 counts after they were read to him.
The EFCC is prosecuting Ayeni on charges of criminal breach of trust, misappropriation and diversion of depositors’ funds allegedly committed while he served as Chairman of the Board of Directors of the defunct Skye Bank Plc, now Polaris Bank Limited.
According to the anti-graft agency, Ayeni allegedly diverted billions of naira from the bank’s suspense account to private companies in breach of his fiduciary responsibilities.
One of the charges alleges that on November 20, 2014, he dishonestly directed the transfer of ₦3.11 billion from the bank’s suspense account to the account of Misa Limited domiciled with Zenith Bank.
Another count accuses him of authorising the transfer of ₦5.08 billion from the same account to Greenwich Registrars’ account with Union Bank on December 2, 2014.
Following his plea, prosecution counsel, Abba Mohammed (SAN), informed the court that the prosecution was ready to commence trial and that its first witness was present.
However, defence counsel, Olalekan Ojo (SAN), opposed the commencement of trial, arguing that the prosecution had not served the defence with the summary of the witness’s statement.
Responding, the prosecution maintained that the witness summary had been filed alongside the second amended charge.
Justice Onwuegbuzie held that the prosecution had complied with the necessary legal requirements and subsequently adjourned the matter until July 20, 22 and 23, 2026, for the continuation of trial.