EFCC arraigns Ex-Skye Bank chair, Ayeni, others for alleged fraud

A former Chairman of the defunct Skye Bank Plc (now Polaris Bank), Mr. Tunde Ayeni, and others were arraigned on Thursday by the Economic and Financial Crimes Commission, EFCC for alleged fraudulent withdrawal of billions of naira from the bank’s suspense account.

He was arraigned before the Federal High Court in Abuja with a former Managing Director of Skye Bank, Timothy Oguntayo, and two companies, Control Dredging Company and Royaltex Paramount Ventures Limited.

Justice Ijeoma Ojukwu granted bail to Ayeni and Oguntayo in the sum of N100m with one surety each after he pleaded not guilty to the 10 counts of money laundering.

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EFCC’s lawyer, Mr. Abbah Mohammed, who objected to both bail applications, said that the former bank chiefs might interfere with prosecution witnesses if they were granted bail.

Defence lawyers, Dele Adesina (SAN), and E.O Akoni (SAN), argued that the defendants had earlier been granted bail by another judge in a similar offence case and had not jumped bail.

Justice Ojukwu who granted bail of one hundred million naira said EFCC’s objection to the bail was not enough to reject the applications.

The judge however ordered that the sureties be produced by the defendants showing evidence of tax payment from 2016 to 2018, and landed property in Abuja.

She also instructed that the defendants should provide the documents of the property to the court for confirmation.

By Todimu Ogunade…

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