Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion following the EFCC`s submission of additional proof of evidence.

At Monday`s proceedings,  prosecution counsel,  Abba Muhammed SAN, informed the court of an amended charge and additional proof of evidence filed on June 22, 2026.

In response,  defence counsel,  Abdul Mohammed SAN confirmed that he was duly served with the charge.

Count three of the charge reads  “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 18th of September, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Hundred and Ten Million Naira (510,000,000) by transferring same to Capital Field Investment Group Limited’s account No:1770125552 domiciled with Skye Bank in violation of the defunct Skye Bank Plc Operational Policy Manual  and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”

Count five also reads, “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 23rd September, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Six Hundred Million Naira (N600,000,000) by transferring same to Harigold Ventures Limited’s account No:0000834983 domiciled with Sterling Bank in violation of the defunct Skye Bank Plc Operational Policy Manual  and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”

He pleaded not guilty to all the charges when they were read to him.

Ayeni was first arraigned on May 4, 2026 on a 17-count charge.

Justice Onwuegbuzie adjourned the matter till July 6, 2026, for commencement of trial.

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Ayeni was arraigned on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds to the tune N15,665,085,429 (Fifteen Billion, Six hundred and Sixty five Million, Eighty five thousand, Four Hundred and Twenty-nine Naira (N15,665,085,429).

Prosecution counsel E.E. Iheanacho, SAN, informed the court that the matter was slated for arraignment and prosecution ready for trial.

“We have before the court 17-count charge dated April 28, 2026, we humbly apply that the charge be read to the defendant”, he said.

Count three of the charge reads: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between 21st of October, 2014 and 19th November, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of Three billion, Two hundred and One million, Five Hundred and Thirty Five Thousand, Four Hundred and Twenty Nine Naira, Forty two kobo(N3,201,535,429.42) by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in Violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.

Count five of the charge reads: “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the Defunct Skye Bank Plc on or about 27th November, 2014, at Abuja within the Jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Billion, Seventy Eight million, Five hundred and Fifty thousand Naira(N5, 078,550,000) by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”

Ayeni pleaded “not guilty” to the charges when they were read to him.

In view of his “not guilty” plea, Iheanacho prayed the court for a trial date and urged the court to remand the defendant in a Correctional Centre.

Defence counsel, Ahmed Raji Bashir, SAN, informed the court that the charge was given to the defendant on a public holiday adding that he considered it imperative to inform the court. He also prayed the court to release the defendant to him or return him to the custody of the EFCC.

Justice Onwuzuruike adjourned the matter to May 13, 2026, for hearing of the bail application, while the defendant was remanded at the Kuje Correctional Centre pending determination of bail application.

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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.

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