EFCC Opens Case Against Ex-Skye Bank Chair Tunde Ayeni Over Alleged N15.6bn Fraud  

By Joseph Sunday

The Economic and Financial Crimes Commission, EFCC, has on Monday, July 6, 2026, commenced its case against Tunde Ayeni, former Board Chairman of defunct Skye Bank Plc, now Polaris Bank Limited, over alleged fraud totaling N15.6 billion.

Ayeni is standing trial before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja, on an amended 18-count charge bordering on criminal breach of trust, misappropriation, and diversion of funds.

The EFCC first arraigned Ayeni on May 4, 2026, on a 17-count charge. He was re-arraigned on June 22, 2026, following an amended charge with additional proof of evidence.

At Monday’s hearing, prosecution counsel Abba Muhammed, SAN, called the first prosecution witness, Remigus Ugwu, a Zenith Bank staff member. Ugwu gave a brief introduction before the court. 

Justice Onwuegbuzie adjourned the matter to July 16, 2026, for continuation of trial.