By Onoja Baba, Nigeria
The Economic and Financial Crimes Commission has arrested Tunde Ayeni, a prominent businessman and the former chairman of the defunct Skye Bank Plc, in connection with an alleged multi-billion naira fraud.
Ayeni was reportedly taken into custody in Abuja on Thursday and remains in the commission’s detention while investigators look into the misappropriation of astronomical sums.
The anti-graft agency is currently scrutinizing the alleged diversion of approximately N36.5 billion and $30 million.
These funds were reportedly obtained as loans from Polaris Bank Plc through various corporate entities associated with the businessman.
According to sources within the investigation, the money was originally earmarked for specific critical projects but was instead rerouted to separate accounts for unauthorized purposes.
The investigation suggests that loans intended for marine security, electricity distribution contracts, and estate development were allegedly funneled into the acquisition of telecommunications assets.
Specifically, the commission believes the funds were channeled toward NITEL/MTEL assets through an account belonging to NATCOM.
To facilitate these transactions, the EFCC is examining twelve different companies linked to Ayeni that were reportedly used to secure the credit facilities from Polaris Bank.
While EFCC spokesperson Dele Oyewale has confirmed the arrest, the agency has declined to offer specific details regarding the ongoing interrogation. Ayeni is expected to face formal arraignment in court once the commission concludes its inv
estigative process.
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