The Economic and Financial Crimes Commission (EFCC) has arrested former chairman of Skye Bank Plc, Tunde Ayeni, over an ongoing investigation into the alleged diversion and laundering of N36.54 billion and $30 million.
Ayeni was reportedly taken into custody in Abuja on Thursday and is currently being held for further interrogation over the alleged financial infractions.
Sources within the anti-graft agency disclosed that the probe centers on funds reportedly obtained as loans from Polaris Bank Plc by entities linked to the businessman. The loans, said to have been secured for specific investment projects, were allegedly diverted into accounts of other companies.
Investigators revealed that the funds were initially earmarked for ventures including marine security operations, electricity distribution contracts, and real estate development. However, they were allegedly redirected toward the acquisition of telecom assets linked to NITEL/MTEL through NATCOM accounts.
The EFCC has also widened its investigation to include 12 companies allegedly associated with Ayeni, which are suspected to have been used as vehicles to obtain and divert the loans.
According to insiders, the loans—believed to be sourced from depositors’ funds—were misapplied for purposes inconsistent with their original intent.
Confirming the development, EFCC spokesperson Dele Oyewale acknowledged Ayeni’s arrest but declined to provide further details, noting that investigations are ongoing.
The agency indicated that Ayeni would be formally charged in court upon the conclusion of its inquiries.
