Justice Jude Onwuegbuzie of the FCT High Court, Apo, on Monday remanded former Skye Bank chairman Tunde Ayeni at Kuje Correctional Centre pending hearing of his bail application.
The EFCC arraigned Ayeni on May 4, 2026, on a 17-count charge of criminal breach of trust and misappropriation of N15.66 billion in depositors’ funds.
Lead prosecutor E.E. Iheanacho, SAN, told the court the prosecution was ready for trial and asked that the charges be read. Ayeni pleaded not guilty to all counts.
Count three alleges that between October 21 and November 19, 2014, Ayeni, as chairman, dishonestly moved N3.2 billion from Skye Bank’s Suspense Account to two Misa Limited accounts at Zenith Bank, in violation of prudential guidelines.
Count five alleges that on November 27, 2014, he transferred N5.08 billion from the same account to Union Registrar Limited’s Union Bank account.
Both offenses fall under Section 311 of the Penal Code and are punishable under Section 312.
Iheanacho asked the court to fix a trial date and remand Ayeni.
Defense counsel Ahmed Raji, SAN, said Ayeni was served the charge on a public holiday. He asked the court to release Ayeni to him or return him to EFCC custody.
Justice Onwuegbuzie refused, ordered Ayeni remanded in Kuje, and adjourned to May 13, 2026, for bail hearing.