Court remands ex-Skye Bank Tunde Ayeni over alleged N8bn money laundering

The businessman and ex-chairman of the collapsed Skye Bank Plc, Tunde Ayeni, was remanded in the Kuje Custodial Facility following arraignment on various counts of criminal allegations.

Mr. Tunde Ayeni appeared before the FCT High Court sitting in Abuja on Monday, and was charged with 17 counts bordering on money laundering worth N8 billion.

The 17 counts of money laundering were preferred against him by the Economic and Financial Crimes Commission (EFCC).

In his pleading, the defendant pleaded not guilty to the various charges.

Mr. Iheanacho advised the court to remand the defendant in prison custody until the trial date.

However, Mr. Raji, who stood for the defendant, pleaded with the court to grant short adjournment to allow for the hearing of bail application by his clients.

According to the counsel, the charge sheet was handed over to the defence on April 23, 2026, which was a public holiday.

He also requested the court to release the defendant to himself and Olalekan Ojo, who is a senior advocate of Nigeria (SAN). He added that he would be available in the next adjourned date.

On the other hand, Jude Onwuegbuzie, who presided over the trial, adjourned the case on the bail application until May 13.

It should be noted that Ayeni was arrested in Abuja on April 24 by the EFCC. They are conducting an investigation into the alleged diversion and misappropriation of the funds worth N36.5 billion and $30 million. This money was reportedly taken from Polaris Bank Plc through several companies owned by Ayeni.

One of the sources disclosed to this newspaper that the funds, which were secured as loans for particular projects, were diverted and used for other purposes. The loans that were supposed to finance marine security, electricity distribution contract, and estate development were reportedly channeled to purchase telecommunications assets related to NITEL/MTEL using the NATCOM account.

Moreover, the commission is investigating 12 firms connected to Ayeni, which are allegedly responsible for acquiring the loans from Polaris Bank.