EFCC Grills Ex-Bank Chairman Over Multi-Billion Naira Loan Scandal
By Wellington Jopelo
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission, has taken former Skye Bank chairman Tunde Ayeni into custody over an alleged ₦36.5 billion fraud case.
The arrest was carried out in Abuja as part of an ongoing investigation into claims of money laundering, diversion of funds, and misuse of bank loans tied to companies linked to the businessman.
Sources familiar with the probe said the funds were reportedly obtained from Polaris Bank through multiple entities and were meant for specific investment projects.
However, investigators believe the money was redirected to other purposes, raising concerns about how the loans were managed and utilised.
The case also involves a network of companies allegedly connected to Ayeni, with about a dozen firms currently under scrutiny as part of the wider investigation.
Authorities suspect that these entities may have been used to secure large sums of money which were later diverted from their original purposes.
The EFCC has confirmed the arrest but has not released full details, indicating that inquiries are still ongoing before any formal charges are filed.
Insiders say the loans were initially tied to projects such as infrastructure and business investments but were eventually channelled into unrelated ventures.
The development has drawn attention within financial and legal circles, given the scale of the alleged transactions and the institutions involved.
Ayeni is expected to face prosecution once investigations are concluded, as the agency works to establish the full extent of the alleged fraud.
The case adds to a growing list of high-profile financial crime probes, highlighting continued efforts to clamp down on misuse of public and private funds.
Further updates are expected as the investigation progresses and authorities determine the next legal steps.