The Federal Capital Territory High Court in Apo has adjourned to May 25, 2026, for a ruling on the bail application of Tunde Ayeni, former Chairman of the Board of Directors of Skye Bank Plc. Ayeni is facing a 17-count charge related to an alleged N15.6 billion fraud.
The Economic and Financial Crimes Commission (EFCC) arraigned Ayeni, who pleaded not guilty to all charges. His counsel, Dele Adesina (SAN), leading four other senior advocates, moved the bail application, noting that the EFCC had previously granted Ayeni administrative bail. Adesina argued that the administrative bail was nearly perfected when the court issued a remand order at the last sitting. He emphasized Ayeni's constitutional right to the presumption of innocence and that the offense is bailable.
Prosecution counsel G.I. Inde opposed the bail application, urging the court to deny it. Justice Jude Onwuegbuzie adjourned the matter for ruling after hearing both parties.
Previously, in 2019, Ayeni and Timothy Oguntayo faced similar charges and pleaded not guilty. During that trial before Justice Ijeoma Ojukwu, Ayeni's counsel, Chief Wole Olanipekun (SAN), argued that the transactions were commercial and banking in nature, not criminal diversion of funds, and that the Central Bank of Nigeria had approved the arrangements. The parties later agreed to an out-of-court settlement, which the court adopted as judgment.
