Abuja, Nigeria
The Economic and Financial Crimes Commission (EFCC) has arrested businessman and former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over alleged financial misconduct involving N36.5 billion and $30 million. He was reportedly arrested in Abuja on Thursday and is currently in EFCC custody as investigations continue.
According to a report by TheCable, Ayeni’s arrest is linked to an ongoing probe by the EFCC into the alleged diversion and misappropriation of large sums of money.
Sources familiar with the investigation said the funds in question were allegedly obtained from Polaris Bank Plc and then diverted through companies said to be connected to Ayeni.
Investigators are said to be examining how the money—amounting to N36.5 billion and $30 million—was moved through what has been described as a network of corporate entities linked to the former bank chairman.
The EFCC has not yet released an official public statement detailing the full scope of the allegations, but inquiries are ongoing as authorities work to trace the movement of the funds and establish the extent of any wrongdoing.
Skye Bank Plc, where Ayeni once served as chairman, was taken over by the Central Bank of Nigeria and later rebranded as Polaris Bank following financial challenges.
Polaris Bank Plc has since operated as a bridge bank while efforts continue to stabilise its operations within Nigeria’s banking sector.
As investigations continue, the EFCC is expected to determine the next steps in the case, including possible charges. The outcome of the probe could have wider implications for accountability within Nigeria’s financial system.