The Economic and Financial Crimes Commission (EFCC) has taken into custody a former chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over allegations of financial misconduct involving about ₦36.54 billion and $30 million.
Ayeni was apprehended in Abuja on Thursday, April 23, 2026, and is currently being held at the commission’s detention facility.
His arrest followed an ongoing probe by the EFCC into claims that large sums of money—reportedly sourced as loans from Polaris Bank Plc—were improperly handled through several firms associated with him.
Investigators said the funds, initially secured for designated projects, were allegedly redirected into accounts of other companies. The loans were said to have been intended for ventures such as maritime security operations, power distribution contracts, and real estate development.
However, findings indicate that the money was instead channelled into the acquisition of NITEL/MTEL assets through a NATCOM-linked account.
The anti-graft agency is examining the activities of at least twelve companies connected to Ayeni, which are believed to have been used to obtain the loans under questionable circumstances.
The EFCC maintains that the funds involved were depositors’ money that was unlawfully accessed and misapplied.
Ayeni is expected to face charges in court upon the conclusion of investigations.
