The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Skye Bank chairman Tunde Ayeni over an alleged 15.6 billion naira fraud, before the Federal Capital Territory High Court in Apo, Abuja. Tunde Ayeni pleaded not guilty to the charges, and the case continues.
Tunde Ayeni faces amended charges
The EFCC re-arraigned the businessman on an amended 18-count charge bordering on criminal breach of trust, misappropriation and diversion of funds. The agency said the amendment followed additional proof of evidence it filed, expanding the case from the earlier set of counts.
When the fresh charges were read to him in court, Ayeni again pleaded not guilty to all of them. The matter was first brought before the court earlier in 2026, when he was arraigned on a 17-count charge tied to the same alleged sum.
Background to the Skye Bank case
Skye Bank was once a major Nigerian lender before regulators stepped in over its financial health. The EFCC’s case centres on allegations linked to the management of investor and depositor funds during Ayeni’s time as chairman of the bank’s board.
The total sum cited in the charges is about 15.66 billion naira. At the earlier arraignment, the court adjourned for a bail hearing and ordered that the defendant be held at the Kuje Correctional Centre pending the determination of his application.
What happens next
With the not-guilty pleas entered, the case is expected to proceed to trial, where the prosecution will call witnesses and present documents. The defence will have the chance to test that evidence and put forward its own case as the proceedings unfold.
Viorah TV reports the allegations strictly as filed by the EFCC and as stated in court. Tunde Ayeni has denied the charges, and he remains presumed innocent unless and until a court determines otherwise at the end of the trial.
The EFCC has pursued several high-profile cases involving the banking sector in recent years, framing them as part of efforts to protect depositors and investors. Such cases often run for extended periods, with multiple adjournments before judgment is reached.
Court watchers will be looking out for the next hearing date and the schedule for witnesses. As a contested legal matter, the case will be decided on the evidence presented before the court, and Viorah TV will continue to report developments factually and without taking sides.
