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

The Economic and Financial Crimes Commission (EFCC) on Monday commenced the presentation of evidence in the alleged N15.6 billion fraud case against Tunde Ayeni, former Chairman of the Board of Directors of the defunct Skye Bank Plc.

This was as it called its first prosecution witness before the Federal Capital Territory High Court in Apo, Abuja.

Ayeni is standing trial before Jude Onwuegbuzie (Justice) on an 18-count amended charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion.

The anti-graft agency had initially arraigned the former bank chairman on May 4, 2026, on a 17-count charge.

However, he was re-arraigned on June 22, 2026, after the commission amended the charge and filed additional proof of evidence to support its case.

At Monday’s proceedings, the prosecution, led by Abba Muhammed, a Senior Advocate of Nigeria (SAN), opened its case by calling its first prosecution witness (PW1), Remigus Ugwu.

Ugwu, who introduced himself as a staff member of Zenith Bank, briefly identified himself before the court as the prosecution began leading evidence in the trial.

Although no detailed testimony was taken during the sitting, the witness’s appearance marked the formal commencement of the prosecution’s case against the former banking executive.

Following the proceedings, Onwuegbuzie adjourned the matter until July 16, 2026, for the continuation of the trial.

The EFCC alleges that Ayeni committed criminal breach of trust and diverted funds totaling N15.6 billion.