EFCC re-arraigns ex-Skye Bank board chairman for alleged N15.6bn fraud

The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned a former Chairman of the Board of Directors of defunct Skye Bank Plc, Tunde Ayeni, before the FCT High Court in Abuja for alleged N15.6 billion fraud.

The EFCC earlier arraigned Mr Ayeni on 4 May on 17 counts and ordered his remand in June Correctional Centre in Abuja.

However, the charges were subsequently amended to 18 based on additional evidence, prompting the defendant’s re-arraignment on Monday.

The anti-graft agency accused Mr Ayeni of criminal breach of trust, misappropriation, and diversion of funds domiciled in defunct Skye Bank Plc (now Polaris Bank Limited).

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Mr Ayeni pleaded guilty to all the allegations.

Details of charges

According to the charges, Mr Ayeni, misappropriated N510 million during his tenure as the Chairman, Board of Directors of the defunct Skye Bank Plc in September 2014, “by transferring same to Capital Field Investment Group Limited’s account No:1770125552 domiciled with Skye Bank.”

The EFCC also said the defendant transferred N600 million to Harigold Ventures Limited’s account.

The commission said his actions violated the defunct Skye Bank Plc Operational Policy Manual and constituted an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.

Section 311 of the Penal Code states that, “Whoever, being in any manner entrusted with property or with a dominion over property, dishonestly misappropriates or converts to his own use that property or dishonestly uses or disposes of that property in violation of any direction of law prescribing the mode in which that trust is to be discharged or of a legal contract express or implied, which he has made touching the discharge of the trust, or wilfully suffers any other person so to do, commits criminal breach of trust.”

READ ALSO: Court remands ex-Skye Bank chairman Tunde Ayeni over N8 billion fraud charges

The law prescribes a punishment of “imprisonment for a term which may extend to two years or with a fine or with both,” upon conviction.

Trial judge, Jude Onwuegbuzie, adjourned the case until 6 July for commencement of trial.

This case joins the list of bankers who have been arraigned for criminal breach of trust and misappropriation. In May, the EFCC arraigned Blessing Gozi-Anyaokei, the managing director of Viscount Microfinance Bank, over alleged fraud involving N19 million and $30,000; she also denied the allegations.