April 24, (THEWILL) — The Economic and Financial Crimes Commission (EFCC) has detained former Chairman of Skye Bank Plc, Tunde Ayeni, over alleged financial improprieties involving N36.5 billion and $30 million, in what officials describe as a major step in ongoing efforts to strengthen accountability in Nigeria’s financial sector.
Ayeni was arrested by EFCC operatives in Abuja on Thursday, April 23, and remains in custody as investigators deepen their probe into the utilisation of substantial loan facilities reportedly obtained from Polaris Bank PLC through companies linked to him.
Sources within the anti-graft agency disclosed that the loans were originally secured for strategic sectors, including marine security, electricity distribution, and real estate development.
However, preliminary findings suggest that the funds may have been diverted into unrelated ventures.
Investigators are examining claims that the monies were channelled into telecommunications investments associated with legacy assets of NITEL and its mobile arm, MTEL, through accounts linked to NATCOM Development and Investment Limited.
These transactions are believed to have been executed outside the stated objectives of the loan agreements.
In addition, no fewer than 12 companies allegedly connected to Ayeni are under scrutiny for their roles in facilitating the loan acquisitions and subsequent fund movements.
The EFCC is reportedly conducting a comprehensive financial trail analysis to determine the extent of involvement of each entity and to establish possible breaches of financial regulations and trust.
Spokesperson for the Commission, Dele Oyewale, confirmed the arrest on Friday, noting that investigations are ongoing.
While he declined to provide detailed insights into the case, he assured that due process would be followed and that findings would be made public in line with the Commission’s transparency policy.
“The Commission remains committed to ensuring that all allegations of financial misconduct are thoroughly investigated and that appropriate legal actions are taken,” Oyewale stated.
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