EFCC Arraigns Ex-Skye Bank Chairman Over Alleged N4.5bn Fraud

The Economic Financial and Crimes Commission (EFCC) has arraigned the former Chairman of Skye bank, Tunde Ayeni over alleged N4.5bn fraud. Ayeni who was arraigned yesterday, March 6 was brought before Justice Valentine Ashi of a Federal Capital Territory, FCT High Court, Apo. He was slammed with a four-count charge, bordering on criminal breach of trust which is worth N4,597,500,000. He was arrested alongside a Timothy Ajani Oguntayo who was said to be his accomplice in fraudulently diverting depositors’ funds at Skye Bank Plc for their personal use. The charges slammed against him reads: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc and Timothy Ajani Oguntayo, while being the Managing Director, MD of the defunct Skye Bank Plc on or about October 16, 2014 at Abuja within the jurisdiction of this Honourable Court, whilst being bankers entrusted with property, to wit: depositors’ funds in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust in respect of the sum of N1,000,000,000 (One Billion Naira) and thereby committed an offence contrary to and punishable under Section 315 of the Penal Code.” To this, the accused pleaded not guilty. Their defence counsels of the accused, however, applied for bail for the both of them which was granted by the court. The trial judge for the case granted them bail of  N500 million (Five Hundred Million Naira) with two sureties each in like sum, who must be resident in Abuja, and must own a landed property “of sufficient value”, within Abuja metropolis. Afterwards, the case was adjourned to the 14th of May, 2019, where the trial will begin.Photo Credit: Getty

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