The Economic and Financial Crimes Commission (EFCC) has arrested former Skye Bank chairman Tunde Ayeni in Abuja over an alleged fraud involving ₦36.54 billion and $30 million. Ayeni, a prominent lawyer and investor, is currently detained at an EFCC facility as investigations continue.
EFCC Probes Multi-Billion Naira Fraud
According to sources close to the case, the arrest is linked to allegations of money laundering, misappropriation, and diversion of funds. The funds were reportedly obtained as loans from Polaris Bank through multiple companies connected to Ayeni. Investigators claim that although the loans were secured for specific projects such as marine security, electricity distribution, and estate development, they were diverted to other purposes, including the acquisition of NITEL/MTEL assets through a NATCOM account.
12 Companies Under Investigation
At least 12 companies allegedly linked to Ayeni are being scrutinized by the EFCC. These entities are believed to have been used to obtain loans from Polaris Bank, which were then diverted from their intended projects. EFCC spokesperson Dele Oyewale confirmed the arrest but declined to provide further details.
Who is Tunde Ayeni?
Born on April 4, 1967, Tunde Ayeni is a well-known Nigerian businessman and legal practitioner with interests in banking, energy, and real estate. He became chairman of Skye Bank (now Polaris Bank) in 2011 and earlier founded Bond Bank in 2000. Ayeni has also been involved in the power sector, leading a successful bid for electricity distribution companies in Ibadan and Yola. He is known for philanthropy and advocacy for business reforms in Africa.
What Happens Next
The EFCC is expected to conclude its investigation before filing formal charges. Ayeni will be arraigned in court once the probe is complete. The case has drawn significant attention due to its scale and the involvement of major financial institutions, making it a key development in Nigeria's fight against financial crimes.
