EFCC Detains Ex-Skye Bank Chairman Tunde Ayeni Over Alleged ₦36.5bn, $30m Fraud

The Economic and Financial Crimes Commission (EFCC) has detained former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over an alleged fraud involving ₦36.5 billion and $30 million.

Ayeni was reportedly arrested by EFCC operatives in Abuja on Thursday, April 23, 2026, and is currently being held in custody as investigations continue.

According to sources familiar with the probe, the anti-graft agency is investigating the alleged diversion of the funds, which were said to have been obtained as loans from Polaris Bank through companies linked to Ayeni.

The loans were reportedly secured for projects in marine security, electricity distribution, and real estate development.

However, investigators allege that the funds were later diverted into telecommunications investments connected to NITEL/MTEL assets through a NATCOM account.

About 12 companies believed to be associated with Ayeni are also said to be under investigation for their roles in obtaining and allegedly diverting the loans.

The EFCC is expected to file formal charges once investigations are concluded.

Confirming the arrest on Friday, EFCC spokesperson Dele Oyewale acknowledged that Ayeni is in custody but declined to provide further details on the ongoing investigation.

The development adds to growing scrutiny over financial dealings involving former top banking executives and major loan transactions in the country.