EFCC Arrests Top Ex-Bank Chairman over Alleged N36 Billion, $30m Fraud

The Economic and Financial Crimes Commission (EFCC) has apprehended Tunde Ayeni, the former Chairman of the defunct Skyebank Plc, as part of an investigation into alleged financial misconduct involving approximately N36,540,058,400.00 and $30 million.

Ayeni is currently being held for questioning regarding allegations of money laundering, misappropriation, and diversion of these substantial sums.

Reports indicate that the investigation has expanded to include the activities of twelve companies associated with Ayeni.

These companies are under scrutiny due to their alleged involvement in obtaining loans from Polaris Bank Plc, which were initially earmarked for specific investment projects but were instead redirected to other accounts.

According to sources, the loans were intended for purposes such as funding marine security operations, handling electricity distribution contracts, and developing real estate. However, it was revealed that the funds were ultimately funneled into the acquisition of assets from NITEL/MTEL through a NATCOM account.

The EFCC has indicated that the investigation will examine the various entities involved in this matter, as they were allegedly utilized by Ayeni to secure loans under false pretenses.

The loans in question, described as depositors’ funds, were reportedly misused for unrelated and questionable activities.

Upon the conclusion of the investigation, Ayeni is expected to face arraignment.

Dele Oyewale, the Head of Media and Publicity for the EFCC, has confirmed Ayeni’s arrest but has not provided additional details regarding the ongoing investigation.