EFCC Opens ₦15.6 Billion Fraud Case Against Ex-Skye Bank Chairman, Ayeni

The Economic and Financial Crimes Commission (EFCC) on Monday opened its case against a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, by presenting its first prosecution witness before the Federal Capital Territory High Court in Abuja.

Ayeni is standing trial before Justice Jude Onwuegbuzie of the FCT High Court, Apo, on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds totalling ₦15.6bn.

At Monday’s proceedings, the prosecution counsel, Abba Muhammed (SAN), called the commission’s first prosecution witness.

The witness, Remigus Ugwu, briefly identified himself as a staff member of Zenith Bank.

The EFCC had initially arraigned Ayeni on May 4, 2026, on a 17-count charge.

He was, however, re-arraigned on June 22 after the anti-graft agency filed an amended charge and additional proof of evidence.

The amended charge increased the counts against the former Skye Bank chairman from 17 to 18.

The commission alleged that the offences involved criminal breach of trust, misappropriation and diversion of funds amounting to ₦15.6bn.

Following the brief testimony of the first prosecution witness on Monday, Justice Onwuegbuzie adjourned the case till July 16, 2026, for continuation of trial.