Tunde Ayeni, businessman and former chairman of the defunct Skye Bank Plc, has been remanded at Kuje correctional centre in Abuja.
Ayeni was arraigned on Monday at the Federal Capital Territory (FCT) High Court on a 17-count charge of alleged money laundering amounting to about N8 billion.
The charges were filed by the Economic and Financial Crimes Commission (EFCC). He pleaded not guilty.
After the plea, EFCC counsel Ekele Iheanacho asked the court for a date to commence trial and urged the court to remand the defendant pending trial.
Responding, Ayeni’s counsel Ahmed Raji told the court that the defence filed a bail application on Monday and served the prosecution. He requested a short adjournment for the hearing.
Raji said the charge sheet was served on the defence on April 23, 2026, during the public holiday. He appealed to the court to release Ayeni to him and senior advocate Olalekan Ojo, assuring the defendant would be available on the next adjourned date.
Trial judge Jude Onwuegbuzie adjourned the hearing on the bail application to May 13.
TheCable reported that Ayeni was arrested in Abuja on April 24 by the EFCC over alleged diversion and misappropriation of funds estimated at N36.5 billion and $30 million. The funds were said to have been obtained from Polaris Bank Plc through companies linked to him.
A source told TheCable that the loans, secured for specific projects, were diverted to other accounts and used for other purposes.
The loans — originally meant for marine security, an electricity distribution contract, and estate development — were allegedly channelled into the acquisition of telecom assets linked to NITEL/MTEL through a NATCOM account.
The EFCC is also investigating about 12 companies linked to Ayeni, which were allegedly used to obtain the loans from Polaris Bank.
