The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been remanded at the Kuje Correctional Centre pending the determination of his bail application.
He was moved to the facility after he was brought before Justice Jude Onwuzuruike of the Federal Capital Territory (FCT) High Court, Apo, Abuja, by the Economic and Financial Crimes Commission (EFCC) on Monday, May 4, 2026.
He will remain at the correctional centre until the hearing of his bail plea on Wednesday, May 13, 2026, the judge declared.
The former banker is facing trial on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds worth N15.67 billion.
Prosecution counsel, Mr E.E. Iheanacho (SAN), informed the court that the matter was slated for arraignment and prosecution was ready for trial.
“We have before the court a 17-count charge dated April 28, 2026. We humbly apply that the charge be read to the defendant,” he said.
“That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between October 21, 2014, and November 19, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of N3.2 billion by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act,” count three of the charge read.
The count five said, “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the Defunct Skye Bank Plc on or about November 27, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of N5.1 billion by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”
After the charges were read to him, Mr Ayeni pleaded “not guilty,” prompting Mr Iheanacho to pray the court for a trial date and asking for the remand of the defendant in a correctional centre.
The defence counsel, Mr Ahmed Raji Bashir (SAN), informed the court that the charge was given to the defendant on a public holiday, adding that he considered it imperative to inform the court. He also prayed the court to release the defendant to him or return him to the custody of the EFCC.