The Economic and Financial Crimes Commission (EFCC) has arrested businessman and former chairman of Skye Bank Plc, Tunde Ayeni, over an alleged multi-billion naira fraud.
Sources confirmed that Ayeni was apprehended in Abuja on Thursday and is currently in EFCC custody as investigations continue.
The anti-graft agency is probing the alleged diversion and misappropriation of funds estimated at N36.5 billion and $30 million, reportedly obtained from Polaris Bank Plc through companies linked to the suspect.
According to sources familiar with the investigation, the funds were initially secured as loans for specific projects but were allegedly diverted into other accounts and used for unrelated purposes.
The loans, which were meant to finance marine security, electricity distribution contracts, and estate development, were reportedly channelled into the acquisition of telecommunications assets linked to NITEL and MTEL through a NATCOM account.
Investigators are also examining the activities of about 12 companies allegedly connected to Ayeni, which were said to have been used to obtain the loans from Polaris Bank.
Ayeni is expected to be arraigned in court upon the conclusion of investigations.
When contacted, EFCC spokesperson Dele Oyewale confirmed the arrest but declined to provide further details.
