Ex-Skye Bank Chairman Gets N200m Bail Over Alleged N15.7bn Fraud

By Igwe Grace

Former Skye Bank Chairman, Tunde Ayeni, has been granted 200 million naira bail by an Abuja High Court over an alleged 15.7 billion naira fraud case filed by the Economic and Financial Crimes Commission.

Ayeni is facing a 17-count charge bordering on alleged fraud and pleaded not guilty when the charges were read in court. Justice Jude Onwuzuruike said the main purpose of bail is to ensure the defendant appears throughout the trial.

The judge also ruled that claims by the prosecution that Ayeni could influence the case were speculative and not strong enough to deny him bail. He added that every accused person remains innocent until proven guilty.

As part of the bail conditions, Ayeni must provide two federal civil servant sureties with proof of employment, national identity cards, and properties worth at least N500 million each. One of the sureties must also provide a N15 billion bank guarantee.

The court further directed correctional centre officials to allow Ayeni unrestricted access to his legal team while the bail conditions are being fulfilled. Ayeni was previously prosecuted by the EFCC in 2019 over similar allegations, but the matter was later settled out of court with approval from the Central Bank of Nigeria.

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