Tunde Ayeni, the former Chairman of the defunct Skye Bank Plc—which has since transitioned into Polaris Bank Limited—has been re-arraigned by the Economic and Financial Crimes Commission (EFCC). The proceedings took place on June 22, 2026, at the Federal Capital Territory High Court in Apo, Abuja, presided over by Justice Jude Onwuegbuzie.
The anti-corruption agency has leveled 18 counts against Ayeni, an increase from the original 17-count charge presented during his initial appearance on May 4, 2026. The new charges involve allegations of criminal breach of trust, as well as the misappropriation and diversion of funds totaling N15.6 billion. Prosecution counsel Abba Mohammed, SAN, confirmed that the updated charges and supplementary evidence were officially submitted to the court on the day of the hearing. Defense counsel Abdul Mohammed, SAN, acknowledged receipt of these documents.
Specific allegations suggest that during his tenure as chairman, Ayeni unauthorized the transfer of N510 million in September 2014 from the bank’s suspense account to Capital Field Investment Group Limited. A similar accusation involves a separate transfer of N600 million to Harigold Ventures Limited during the same month. According to the EFCC, these transactions were in direct violation of the bank’s internal operational guidelines and constituted a breach of trust. After the charges were read in court, Ayeni entered a plea of not guilty. Justice Onwuegbuzie has scheduled the trial to begin on July 6, 2026.