By Rosemary Nwanpka
ABUJA — Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over alleged money laundering, misappropriation, and diversion of funds totalling N36.54 billion and $30 million.
Ayeni was taken into custody in Abuja on Thursday and is currently being held at the commission’s facility.
Sources familiar with the investigation said the case involves an extensive loan diversion scheme spanning multiple companies and large financial transactions, with funds allegedly redirected from their original purposes into unrelated ventures.
“Operatives of the EFCC have arrested a former board chairman of defunct Skye Bank Plc and businessman, Tunde Ayeni, in connection with alleged money laundering, misappropriation and diversion of funds to the tune of N36,540,058,400 and $30m,” a source disclosed.
Investigators are probing how the funds were sourced from Polaris Bank Plc through various entities linked to Ayeni and subsequently moved across several accounts.
“Ayeni was arrested following EFCC investigations into alleged misappropriation and diversion of funds obtained from Polaris Bank Plc by different entities connected to him,” the source added.
Further findings indicate that the loans, initially secured for specific projects—including marine security operations, electricity distribution contracts, and estate development—were allegedly diverted to finance the acquisition of NITEL/MTEL assets through a NATCOM account.
Investigators are also examining the role of at least 12 companies reportedly linked to Ayeni, believed to have been used to secure the loans. The funds, described as depositors’ money, were allegedly misapplied across various ventures.
EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined to provide further details, citing ongoing investigations.
Ayeni is expected to be charged to court upon the conclusion of the probe.
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