EFCC arrests ex-Skye Bank MD Tunde Ayeni for alleged fraud

The Economic and Financial Crimes Commission has arrested businessman and former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over allegations of multi-billion naira fraud

Ayeni was reportedly picked up in Abuja and is currently in EFCC custody.

The anti-graft agency is probing alleged diversion and misappropriation of about N36.5 billion and $30 million.

The funds are said to have been obtained from Polaris Bank Plc through companies linked to him.

According to investigators, the funds were originally secured as loans for specific projects, including marine security, electricity distribution contracts, and estate development, but were allegedly diverted to other accounts for unrelated purposes.