Breaking: EFCC Arrests Ex-Skye Bank Boss Tunde Ayeni Over Alleged Fraud Probe

The Economic and Financial Crimes Commission (EFCC) has arrested former Skye Bank chairman, Tunde Ayeni, over an alleged multi-billion naira fraud.....KINDLY READ THE FULL STORY HERE▶

Ayeni is reportedly being investigated over the alleged diversion and misappropriation of about ₦36.5 billion and $30 million, said to have been obtained from Polaris Bank through companies linked to him.

According to reports, the businessman was arrested in Abuja on Thursday and remains in EFCC custody as investigations continue.

Sources familiar with the matter said the funds, reportedly secured as loans for specific projects, were allegedly diverted into other accounts and used for purposes outside their original mandate.

The loans, said to have been intended for marine security, electricity distribution contracts, and estate development, were allegedly channelled into acquiring telecom assets linked to NITEL/MTEL through a NATCOM account.

The anti-graft agency is also probing about 12 companies reportedly connected to Ayeni, which investigators believe were used to obtain the loans from Polaris Bank.

He is expected to be arraigned once investigations are concluded. EFCC spokesperson Dele Oyewale confirmed the arrest but declined to give further details.

Meanwhile, the commission has also asked the Federal High Court in Abuja to order the permanent forfeiture of 57 properties allegedly linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to the Federal Government.

The request was made through a motion filed by EFCC lawyers led by Jibrin Okutepa (SAN) and Ekele Iheanacho (SAN) before Justice Joyce Abdulmalik in suit marked FHC/ABJ/CS/20/2026, with Malami and several individuals and companies listed as respondents.

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