EFCC Captures Former Skye Bank Chairman, Tunde Ayeni, Over Alleged N36 Billion, N30 Million Fraud

The Economic and Financial Crimes Commission (EFCC) has arrested a former board chairman of the defunct Skye Bank Plc Plc, Tunde Ayeni, for alleged money laundering, embezzlement and diversion of funds

A source close to the commission said on Friday that Ayeni, a businessman, was picked up on Thursday in Abuja.

The former president, the source said, was questioned for alleged fraud amounting to $36.6 billion and $30 million.

According to the source, the former banker is being held at the EFCC facility while investigations are ongoing.

“Ayeni was arrested following the EFCC investigation into alleged misappropriation and diversion of funds amounting to N36,540, 058,400.00 and N30 million obtained by Polaris Bank plc from various entities linked to him.

“The funds were loans presumably obtained for specific investment projects but subsequently transferred to accounts of other entities.

“Investigations have shown that although the loans were obtained for purposes such as financing maritime security activities, electricity distribution contracts, real estate development, they were diverted towards the acquisition of NITEL/MTEL assets through the NATCOM account.”

According to the source, 12 different companies linked to Ayeni are being investigated by the EFCC.

The source added that the companies were entities that the former president allegedly used to obtain loans from Polaris Bank for his businesses.

“The loans are depositors’ funds obtained fraudulently and squandered on various wasteful purposes. Ayeni will be arraigned in due course upon the conclusion of the investigation.”

When contacted, EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined further details.