EFCC Grills Ex-Skye Bank Chair Ayeni Over Alleged N36bn, $30m Fraud

JOEL OLADELE, Abuja

The Economic and Financial Crimes Commission (EFCC) has taken into custody businessman and former chairman of Skye Bank Plc, Tunde Ayeni, over allegations of large-scale financial misconduct involving billions of naira and millions of dollars.

Ayeni was reportedly arrested in Abuja on Thursday and is currently being held as investigators deepen inquiries into transactions linked to him.

Sources familiar with the probe said the anti-graft agency is examining claims that about N36.5 billion and $30 million were fraudulently obtained from Polaris Bank Plc through a network of companies allegedly associated with the businessman.

The funds, said to have been approved as loans for specific ventures, were allegedly diverted from their original purposes. Projects tied to the facilities reportedly included marine security operations, electricity distribution contracts, and real estate development.

Investigators suspect that a portion of the loans was rerouted into the acquisition of telecom-related assets linked to the former NITEL and its mobile arm MTEL, reportedly through accounts connected to NATCOM.

The commission is also scrutinising no fewer than a dozen firms believed to be linked to Ayeni, which were allegedly used to secure the loan facilities under investigation.

EFCC spokesperson, Dele Oyewale, confirmed the arrest when contacted but declined to disclose further details, citing ongoing investigations.

Ayeni is expected to face formal charges once the probe is concluded.

The case adds to a growing list of high-profile financial investigations as authorities intensify efforts to tackle fraud and enforce accountability in Nigeria’s banking and corporate sectors.