The operatives of the Economic and Financial Crimes Commission, EFCC, have arrested
former board Chairman of defunct banks Skybank Plc and businessman, Tunde Ayeni, over alleged money laundering, misappropriation and diversion of funds to the tune of N36,540, 058,400,00 billion and $30 million USD.
Ayeni who was arrested in Abuja on Thursday, April 23, 2026 is being kept at the EFCC’s holding facility.
He was arrested following EFCC investigation into alleged misappropriation and diversion of funds to the tune of N36,540, 058,400,00 billion and $30 million USD, obtained from Polaris Bank plc by different entities linked to him.
EFCC sources said 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, but they were allegedly diverted to the NITEL/ MTEL asset acquisition through NATCOM account.
12 different companies linked to Ayeni are being investigated by the EFCC as fronts allegedly used to obtain loans from Polaris bank for shady activities.
It was gathered that Ayeni will be arraigned upon conclusion of investigations into the matter.
