The Economic and Financial Crimes Commission (EFCC) has arrested the former chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over alleged fraud involving billions of naira and millions of dollars.
It was gathered that Ayeni was arrested by EFCC operatives in Abuja on Thursday, April 23, 2026, and remains in the custody of the anti-graft agency.
Sources familiar with the probe disclosed that the commission is examining the alleged diversion of about N36.5 billion and $30 million, said to have been sourced as loans from Polaris Bank Plc through companies linked to Ayeni.
The funds were said to have been obtained for specific projects but later redirected to other uses.
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The loans, initially intended for ventures such as marine security, electricity distribution, and real estate development, were allegedly channelled into telecom-related investments tied to assets of NITEL/MTEL via a NATCOM account.
Investigators were also said to be scrutinising about 12 firms believed to be connected to Ayeni, which were allegedly used to secure the loans.
Ayeni is expected to face charges once the investigation is concluded.
EFCC spokesperson Dele Oyewale confirmed the arrest on Friday but declined to provide further details.
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