KEY POINTS
- EFCC arrested former Skye Bank chairman Tunde Ayeni over alleged ₦36.5bn and $30m fraud.
- Funds obtained from Polaris Bank were reportedly diverted from intended projects.
- About 12 linked companies are under investigation, with charges expected soon.
The Economic and Financial Crimes Commission has arrested former Skye Bank Chairman Tunde Ayeni over allegations of large-scale financial fraud.
Ayeni, a businessman and former chairman of Skye Bank Plc, was reportedly taken into custody in Abuja on Thursday and remains detained as investigations continue.
Investigators are examining claims that Ayeni diverted and misused funds totaling about ₦36.5 billion and $30 million.
The funds were allegedly obtained as loans from Polaris Bank through companies linked to him but were reportedly redirected to other accounts and purposes.
Funds Linked to Multiple Projects and Firms
Sources say the loans were originally meant for projects such as marine security, electricity distribution, and estate development.
However, they were allegedly diverted into acquiring telecom assets tied to NITEL/MTEL through a NATCOM account.
The anti-graft agency is also investigating around 12 companies reportedly connected to Ayeni and used to secure the loans.
Ayeni is expected to face formal charges once investigations are completed.
EFCC spokesperson Dele Oyewale confirmed the arrest but did not disclose further details.