The Economic and Financial Crimes Commission has arrested Tunde Ayeni, former chairman of the defunct Skye Bank Plc, over allegations involving money laundering, misappropriation, and diversion of funds estimated at N36.54bn and $30m.
Ayeni, a businessman and former top figure in Nigeria’s banking sector, was reportedly picked up in Abuja on Thursday and is being held by the anti-graft agency while investigations continue. According to reports, EFCC spokesperson Dele Oyewale confirmed the arrest but did not give further details on the matter.
The case is said to centre on funds allegedly obtained from Polaris Bank Plc through several companies linked to Ayeni. Investigators are looking into claims that the money, which was reportedly taken as loans for specific business and investment purposes, was later moved into other accounts and used for different transactions.
Sources familiar with the investigation said some of the loans were allegedly meant for projects such as marine security operations, electricity distribution contracts, and estate development. However, investigators are probing claims that the funds were diverted into the acquisition of NITEL/MTEL assets through a NATCOM-related account.
The EFCC is also reportedly investigating about 12 companies allegedly connected to Ayeni. These companies are believed to have been used in obtaining the loans from Polaris Bank, with investigators now working to determine how the funds were disbursed, transferred, and eventually used.
Ayeni was once a major figure in the Nigerian banking industry, especially through his role at Skye Bank Plc. Skye Bank later became defunct after the Central Bank of Nigeria revoked its operating licence in 2018, while Polaris Bank was created as a bridge bank to take over its assets and liabilities.
Although the allegations are serious, Ayeni has not been convicted of any offence in connection with the case. The matter remains under investigation, and reports say he is expected to be arraigned after the EFCC concludes its findings.
The development adds another high-profile case to Nigeria’s ongoing anti-corruption campaign, especially in the banking and financial sector, where regulators and law enforcement agencies have continued to investigate alleged abuse of loans, diversion of depositors’ funds, and suspicious financial transactions.
For now, the EFCC has not released a full public statement on the next step in the case. More details are expected to emerge as the investigation progresses.
