The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned a former Chairman, Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, before Justice Jude Onwuzuruike of the Federal Capital Territory High Court, Abuja.
Ayeni was arraigned on a 17-count charge bordering on alleged criminal breach of trust, misappropriation, and conversion of investors’ funds to the tune of ₦15.6 billion.
Count five of the charge read, “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 ₦5, 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.”
The prosecution counsel informed the court that the matter was slated for arraignment, and the prosecution was ready for trial.
On his part, defence counsel, Ahmed Raji, SAN, informed the court that the charge was given to the defendant on a public holiday adding that he considered it imperative to so inform the court.
In view of the “not guilty” plea, Iheanacho prayed the court for a trial date and urged the court to remand the defendant to a correctional centre.
Raji, however, 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 the bail application.