EFCC Arrests Former Skye Bank Chairman Tunde Ayeni Over Alleged N36.5bn, $30m Fraud

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The Economic and Financial Crimes Commission (EFCC) has arrested prominent businessman and former Chairman of the defunct Skye Bank Plc, Tunde Ayeni, over his alleged involvement in a multi-billion naira financial scandal.

Ayeni was reportedly apprehended in Abuja and is currently being held in the custody of the anti-graft agency as investigations into the matter intensify. Sources within the Commission disclosed that the arrest is connected to an ongoing probe into the alleged diversion and misappropriation of funds amounting to approximately N36.5 billion and $30 million.

According to preliminary findings, the funds in question were allegedly obtained from Polaris Bank Plc through a network of companies believed to be linked to the former bank chairman. Investigators are said to be examining the flow of the funds and the extent of Ayeni’s involvement in the transactions.

While the EFCC has yet to release an official detailed statement regarding the arrest, insiders suggest that the case forms part of a broader effort by the Commission to clamp down on high-profile financial crimes and recover stolen public and private assets.

The development has sparked fresh conversations around corporate governance and accountability within Nigeria’s banking sector, particularly in relation to the activities of former executives of defunct financial institutions.

As of the time of filing this report, Ayeni has not publicly commented on the allegations, and it remains unclear whether formal charges have been filed against him.

Further updates are expected as the investigation unfolds.