The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Chairman of the Board of defunct Skye Bank Plc, Tunde Ayeni, for the fourth time in 2026 over an alleged N15.3 billion fraud.
Ayeni was on Wednesday brought before the Federal Capital Territory High Court in Abuja, presided over by Justice Hamza Mu’azu, on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds.
The latest arraignment followed the transfer of the case from Justice Jude Onwuegbuzie, before whom the defendant had earlier been re-arraigned on July 16.
According to the charge sheet, Ayeni allegedly directed the transfer of more than N3.1 billion from Skye Bank’s suspense account to an account belonging to Misa Limited, domiciled with Zenith Bank, in November 2014.
The prosecution further alleged that he subsequently authorised the transfer of over N5 billion from the same suspense account to an account belonging to Greenwich Registrars, domiciled with Union Bank, in December 2014.
The alleged transactions reportedly occurred while Ayeni was serving as chairman of the bank’s board.
However, the former bank chairman pleaded not guilty to all 18 counts when the charges were read to him in court.
Following his plea, prosecution counsel, Abba Muhammed, requested a date for the commencement of trial.
Defence counsel, E. Inegedu, urged the court to maintain the bail conditions earlier granted to his client in May 2026, arguing that Ayeni had consistently attended court proceedings without violating any of the conditions.
The prosecution did not oppose the request, leaving the decision to the discretion of the court.
Both parties acknowledged that the defendant had complied with his bail conditions and attended previous court sittings.
Justice Mu’azu subsequently adjourned the matter until January 19, 2027, for the commencement of trial.
FOURTH ARRAIGNMENT IN 2026
Ayeni was initially arraigned on May 4, 2026, before being re-arraigned on an amended charge on June 22.
He was again brought before Justice Onwuegbuzie on July 16, where he pleaded not guilty to the 18-count charge.
Wednesday’s proceedings marked the fourth time the former bank chairman would be arraigned over the alleged N15.3 billion fraud in 2026.
The case is expected to proceed to trial in January 2027.