Operatives of the Economic and Financial Crimes Commission have detained a former chairman of Skye Bank, Tunde Ayeni, over an alleged diversion of N36.5 billion and $30 million in bank loans.
Ayeni was picked up in Abuja on Thursday, April 23, 2026, and has remained in custody as investigators examine the movement and utilisation of the funds.
Officials familiar with the case said the loans were obtained from Polaris Bank Plc through several firms believed to be linked to the former bank chief. The facilities were reportedly designated for marine security operations, power sector investments, and real estate projects.
The probe, however, has uncovered indications that the funds may have been redirected into telecommunications ventures connected to the assets of NITEL and MTEL, using accounts associated with NATCOM.
Investigators are also scrutinising about 12 companies suspected to have played roles in securing and deploying the loans, as the commission works to establish the full scope of the transactions.
The anti-graft agency is expected to file charges at the conclusion of the investigation.
Confirming the development, EFCC spokesman Dele Oyewale said the arrest had been effected but declined to provide further details due to the ongoing nature of the inquiry.
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