EFCC arrests ex-Skye Bank boss Tunde Ayeni over alleged ‘N36bn, $30m fraud’

Prominent businessman, Tunde Ayeni, has been arrested by the Economic and Financial Crimes Commission (EFCC) following a multi-billion naira fraud case.

The businessman who once served as the chairman of Skye Bank Plc, was said to have been arrested in Abuja last Thursday and he is currently being held in custody by the EFCC as investigation into his case proceeds.

Investigations reveal that the agency is investigating the alleged theft of funds totaling N36.5 billion and $30 million. The stolen funds, it was gathered, were taken as loan from Polaris Bank by firms associated with Ayeni.

Insiders said that while some of the funds were initially loaned out for certain projects such as maritime security, electricity distribution and estate development, they were subsequently moved elsewhere for some other purposes.

Additional information suggests that some of the funds might have been diverted to purchase telecommunications assets connected to NITEL and MTEL using a NATCOM account, leading to more queries regarding the fund flow.

Meanwhile, the EFCC is reportedly conducting inquiries concerning around 12 firms believed to be affiliated with Ayeni, who were likely employed to obtain the loans from Polaris Bank.

Ayeni is expected to be formally indicted by the EFCC once it completes its inquiry.

Upon inquiry, the spokesperson for the commission, Dele Oyewale, confirmed Ayeni’s arrest but refrained from disclosing any additional information due to the ongoing investigation.