The Economic and Financial Crimes Commission (EFCC) has arrested businessman and former chairman of the defunct Skye Bank Plc, Tunde Ayeni, over an alleged multi-billion naira fraud.
According to a report by TheCable, Ayeni was arrested 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, said to have been obtained from Polaris Bank Plc through companies linked to him.
According to sources, the funds, secured as loans for specific projects, were diverted to other accounts and used for other purposes.
The loans – originally meant for financing marine security, electricity distribution contract, estate development, were allegedly channelled into the acquisition of telecom assets linked to NITEL/MTEL through a NATCOM account.
The commission is also investigating about 12 companies linked to Ayeni, which were allegedly used to obtain the loans from Polaris Bank.
Ayeni is expected to be arraigned upon the conclusion of investigations.
