The Economic and Financial Crimes Commission (EFCC) has arrested businessman and former Chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over allegations of large-scale financial misconduct involving billions of naira and millions of dollars.
Ayeni was reportedly picked up in Abuja on Thursday and remains in EFCC custody as investigators continue to examine the case.
Alleged diversion of bank loans under investigation
The anti-graft agency is probing allegations that funds estimated at N36.5 billion and $30 million were diverted from Polaris Bank Plc through companies allegedly linked to the former bank chief.
Investigators are said to be examining how loans obtained for specific projects were allegedly redirected to unrelated ventures.
Sources indicated that the credit facilities were initially approved for projects such as marine security operations, electricity distribution contracts and estate development, but were later allegedly channelled into other investments.
Funds allegedly used for telecom asset acquisition
According to details of the investigation, part of the diverted funds was allegedly used in the acquisition of telecommunications assets associated with NITEL/MTEL through a NATCOM-linked account.
The EFCC is also scrutinising about 12 companies believed to be connected to Ayeni, which were allegedly used in securing the disputed loans from Polaris Bank.
EFCC confirms arrest but withholds details
EFCC spokesperson Dele Oyewale confirmed the arrest when contacted, but declined to provide further information regarding the ongoing investigation.
“The matter is under investigation,” he said.
Authorities say Ayeni is expected to be arraigned in court upon the conclusion of ongoing investigations as the EFCC continues to trace the flow of funds and related corporate transactions.
