N15.3BN BANK HEIST: EFCC Drags Ex-Skye Bank Boss Ayeni Back to Dock as Trial Date is Set

​ABUJA — The Economic and Financial Crimes Commission (EFCC) has stepped up its high-stakes prosecution of former Skye Bank Chairman, Tunde Ayeni, re-arraigning the embattled banking tycoon before Justice H. Mu’azu of the Federal Capital Territory (FCT) High Court sitting in Maitama.

​Ayeni is standing trial on a heavily detailed 18-count charge bordering on criminal breach of trust, misappropriation, and the systematic diversion of depositors’ funds to the staggering tune of N15,391,093,665.00 (Fifteen Billion, Three Hundred and Ninety-One Million, Ninety-Three Thousand, and Six Hundred and Sixty-Five Naira).

​The high-profile re-arraignment follows the administrative transfer of the case file from Justice Jude Onwuegbuzie of the FCT High Court in Apo, setting the stage for what legal analysts predict will be a fiercely contested courtroom showdown when full trial proceedings kick off on January 19, 2027.

​Anatomy of an Alleged Mega-Heist

​Court documents outlining the 18-count indictment paint a grim picture of corporate governance failure and alleged financial malfeasance at the helm of the defunct Skye Bank Plc (now operating as Polaris Bank Limited).

​According to the anti-graft agency, Ayeni leveraged his powerful position as Chairman of the Board of Directors to exert dominion over sensitive customer deposits domiciled within the institution’s suspense accounts. Prosecutors allege that the accused orchestrated massive, unauthorized fund transfers under the guise of legitimate banking operations.

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• ​Count 8: Accuses Ayeni of criminal breach of trust on or about November 20, 2014, in Abuja. He allegedly misappropriated an aggregate sum of N3,113,543,665.42 by directing its transfer to Misa Limited’s account (No: 1011295717) domiciled with Zenith Bank — a direct violation of his fiduciary contract with Skye Bank. This offense contravenes Section 311 of the Penal Code and is punishable under Section 312.
• ​Count 9: Details a subsequent alleged diversion on December 2, 2014, where Ayeni allegedly misappropriated N5,078,550,000.00 by ordering its transfer to Greenwich Registrar’s account (No: 0003490559) domiciled with Union Bank.

​Drama in Court: Not Guilty Plea and Bail Conundrum

​When the charges were formally read in court, Ayeni maintained a posture of defiance, entering a plea of “not guilty” across all counts.

​Following the plea, prosecution counsel Abba Muhammed, SAN, promptly applied for a date to commence trial. However, the defense team, led by E. Inegedu, SAN, urged the court to preserve the existing bail terms previously granted to the defendant in May 2026.

​Inegedu reassured the bench that his client had demonstrated exemplary compliance, maintaining consistent attendance at all previous court sessions without a single breach of administrative requirements, which include the submission of his international passport and the provision of reliable sureties.

​In a display of professional accord, prosecuting counsel Muhammed conceded to the court’s discretion regarding the continuation of the bail conditions, acknowledging that the defendant had not defaulted on his court appearances.

​Justice Mu’azu accepted the submissions and formally adjourned the matter to January 19, 2027, for the commencement of full trial hearings, where key witnesses and financial forensic experts are expected to take the stand.