The Economic and Financial Crimes Commission (EFCC) has arrested Tunde Ayeni, the former chairman of the defunct Skye Bank Plc, over an alleged fraud involving N36.5 billion and $30 million.
Ayeni was reportedly picked up in Abuja on Thursday, April 23, 2026, and is currently in custody as investigations proceed.
The EFCC is investigating the alleged diversion and misappropriation of funds estimated at N36.5 billion and $30 million.
The amount is said to have been obtained from Polaris Bank Plc through companies linked to him.
According to sources, the funds, secured as loans for specific projects, were diverted to other accounts and used for other purposes.
The loans originally meant for financing marine security, electricity distribution contract, estate development, were allegedly channeled into the acquisition of telecom assets linked to NITEL/MTEL through a NATCOM account.
The commission is also investigating about 12 companies linked to Ayeni, which were allegedly used to obtain the loans from Polaris Bank.
Ayeni is expected to be arraigned upon the conclusion of investigations.
When contacted, Dele Oyewale, EFCC spokesperson, confirmed the arrest but declined to provide further details.
Details shortly…
