Economic and Financial Crimes Commission (EFCC) has arrested former chairman of the defunct Skye Bank Tunde Ayeni over allegations of money laundering, misappropriation and diversion of funds.
An EFCC source said Mr Ayeni was arrested in Abuja on Thursday and is in custody.
The source said the case involves about N36.54 billion and $30 million.
According to the source, the investigation centres on loans obtained from Polaris Bank through companies linked to Ayeni.
The loans were said to be for marine security operations, electricity distribution contracts and estate development.
The source said investigators found that the funds were diverted to other uses, including the acquisition of telecom assets linked to NITEL and MTEL through NATCOM.
The EFCC is also investigating about 12 companies linked to Ayeni over their roles in obtaining the loans.
The source said the loans were sourced from depositors’ funds and used for purposes not stated.
EFCC spokesperson Dele Oyewale confirmed the arrest but declined further comment.
Ayeni had faced charges in the past.
In 2018, the EFCC arraigned him and Timothy Oguntayo before a federal high court in Abuja over alleged diversion of funds. They pleaded not guilty and were granted bail.
The case, later amended, is before Justice Ijeoma Ojukwu.
In 2019, the EFCC filed another case involving alleged money laundering of N25.4 billion against Tunde Ayeni, Oguntayo and two companies.
In 2022, the commission withdrew the charges after a settlement that included asset forfeiture.
The companies, Control Dredging Company Ltd and Royaltex Paramount Ventures Ltd, were later re-arraigned separately.
The withdrawal drew reactions from some lawyers and civil society groups.
Inibehe Effiong questioned the use of plea bargains, while Auwal Rafsanjani raised concerns about its impact on accountability.
The EFCC has not filed charges in the new case.
