Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a former board Chairman of defunct Skybank plc and businessman, Tunde Ayeni in connection with alleged money laundering, misappropriation and diversion of funds to the tune of N36,540, 058,400,00 and $30m.
He was arrested in Abuja on Thursday, April 23, 2026 and being kept at the EFCC’s holding facility.
Ayeni was arrested sequel to the investigation of the EFCC into alleged misappropriation and diversion of funds to the tune of N36,540, 058,400,00 and $30m obtained from Polaris Bank plc by different entities linked to him.
The funds were loans obtained allegedly for specific investment projects but subsequently transferred to other entities’ accounts.
Investigations showed that, though the loans were obtained for purposes such as finance of marine security activities, electricity distribution contract, estate development, they were diverted to the NITEL/ MTEL asset acquisition through NATCOM account.
Twelve different companies linked to Ayeni are being investigated by the EFCC. They are entities he allegedly used to obtain loans from Polaris bank for his shady activities. The loans are depositors’ funds fraudulently obtained and frittered into diverse wasteful purposes.
Ayeni will be arraigned in due course upon conclusion of investigations.
EFCC’s spokesperson, Dele Oyewale, when contacted, confirmed the arrest but declined to give further details
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