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EFCC Releases Tunde Ayeni After Arrest Over 2015 Election Funding

The Economic and Financial Crimes Commission (EFCC) has released Tunde Ayeni, former chairman of Skye Bank Plc, after questioning him over 2015 election funds.

Ayeni, it was learnt, would be arraigned for fraud running into billions of naira.

Particularly, the EFCC will charge him for mismanaging the funds of the bank which almost led to its collapse.

Confirming the development, the acting Spokesman for the EFCC, Mr. Tony Orilade, said Ayeni was grilled by detectives.

“I can confirm that he is in our custody. More information will be released tomorrow,” he said.

Ayeni, who was the chairman of the bank from 2010 to 2016 when he was removed by the Central Bank of Nigeria (CBN), reportedly injected N7billion into the Peoples Democratic Party (PDP) campaign in 2015.

He has denied the allegations levelled against him.

The CBN had taken over the bank on July 4, 2016, and appointed a new management.

Following an audit, the management had written a petition to Acting President Yemi Osinbajo in 2017. Ayeni was accused of wrecking the bank.

He was said to have used his position to obtain the loans to purchase Ntel, take up power distribution with the establishment of Ibadan Electricity Distribution Company and Yola Electricity Distribution Company, which was put at N70 billion.

The former bank chairman reportedly paid back N1 billion out of the debt, last week.

One year after, the CBN revoked the operating licence of the bank, saying it could no longer survive on its indefinite interventions, while a bridge bank, Polaris Bank, was created to take over the assets and liabilities of the bank.

More to come…

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