Alleged N15.6bn fraud: EFCC opens case against Ayeni, ex-Skye Bank chair

The Economic and Financial Crimes Commission (EFCC) on Monday opened its prosecution in the alleged N15.6 billion fraud case against Tunde Ayeni, former chairman of the board of directors of the defunct Skye Bank Plc, with its first witness testifying before the Federal Capital Territory High Court in Apo, Abuja.

The witness, Remigus Ugwu, a compliance officer with Zenith Bank Plc, appeared before Jude Onwuegbuzie (Justice) as the first prosecution witness (PW1).

He told the court that the bank furnished the EFCC with account records and other banking documents relating to companies allegedly linked to Ayeni during the commission’s investigation.

Led in evidence by Abba Mohammed, EFCC’s counsel, Ugwu explained that the anti-graft agency requested account opening documents, statements of account, certificates of identification, and other banking records relating to Capital Assets Ltd, Dhuha Engineering Services Ltd, Misa Ltd and other entities.

According to the witness, the bank complied with the request by retrieving the documents from its records and forwarding them to investigators.

“I printed the statements of the accounts of the customers mentioned together with the account opening documents. I compared the statements of accounts printed from our computer with the information stored in our computer system, which we use for our day-to-day activities, and found them to be correct,” he told the court.

Ugwu further testified that he personally signed the certificates of identification accompanying the documents and that the bank prepared a covering letter transmitting the requested records to the EFCC.

He said the covering letter was jointly signed by him and another colleague before it was forwarded to the anti-corruption agency.

The compliance officer also informed the court that he could identify both the EFCC’s letter requesting the banking records and Zenith Bank’s response, noting that the documents bore the bank’s official acknowledgement stamp, letterhead, logo and the names of the account holders concerned.

After examining the documents presented to him in court, Ugwu confirmed their authenticity.

“My Lord, these are the documents,” he said.

However, proceedings took a turn when the prosecution sought to tender the documents as exhibits.

Olalekan Ojo, defence counsel, objected to their admissibility, arguing that the documents had not been properly certified.

Following the objection, Onwuegbuzie adjourned the matter until Wednesday, July 22, 2026, when he is expected to rule on whether the documents will be admitted in evidence.

Ayeni is facing an 18-count charge filed by the EFCC, bordering on alleged criminal breach of trust, misappropriation and diversion of funds amounting to N15.6 billion. He has denied the allegations, and the trial is continuing before the FCT High Court.