N8bn Fraud: Skye Bank Chairman Tunde Ayeni Arraigned In Court, Gets 36 Hours To Fulfill His Bail Conditions From Home

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N8bn Fraud: Skye Bank Chairman Tunde Ayeni Arraigned In Court, Gets 36 Hours To Fulfill His Bail Conditions From Home

The Economic and Financial Crimes Commission, EFCC, on December 17,
2018, arraigned a former Chairman, Board of Directors, Skye Bank Plc,
Tunde Ayeni, before Justice Nnamdi Dimg alt=’ N8bn fraud: Skye Bank
chairman Tunde Ayeni arraigned in court, gets 36 hours to fulfill his
bail conditions from home’ class=’img-responsive text-center’
style=’margin: auto;’ba of the Federal High Court, Abuja on an
eight-count charge, bordering on money laundering to the tune of about
N8 billion.

According to a statement released by the antigraft agency, Ayeni was
arraigned alongside Timothy Ajani Oguntayo, for allegedly conspiring at
different times to fraudulently divert depositors’ funds domiciled at
Skye Bank Plc.

After the arraignment, the judge, in a dramatic twist, granted the
defendants 36 hours freedom, to meet the bail conditions or be remanded
in Kuje prison. They were asked to go home.

One of the counts reads: “That you Dr. Tunde Ayeni whilst being the
Chairman Board of Directors of Skye Bank Plc and Timothy Ajani Oguntayo
whilst being the Managing Director and Chief Executive of Skye Bank
between the years 2014 and 2015 conspired at different times to do an
illegal act, to wit; caused cash delivery to you, Dr. Tunde Ayeni of the
sums of money totalling N4,750,000,000 (Four Billion, Seven Hundred and
Fifty Million Naira) and USD5,000,000 (Five Million United States
Dollars) belonging to Skye Bank Plc, contrary to the provisions of
Section 1(a) of the Money Laundering (Prohibition) Act 2011 (as amended)
read together with Section 18 (a) of the Money Laundering (Prohibition)
Act 2011 (as amended) and punishable under Section 16(2) (b) of the
Money Laundering (Prohibition) Act 2011 (as amended)”. They pleaded “not
guilty” to all the counts.

In view of their pleas, prosecuting counsel, Abba Mohammed, prayed
the court for a trial date and prayed that the defendants be remanded in
prison custody, pending the hearing of their bail applications.

Before the court’s ruling, Counsel for the first defendant, Dele
Adesina, SAN, who held brief for the lead counsel, Wole Olanipekun, SAN,
informed the court of their pending bail application, which was served
on the prosecution on December 13, 2018. Counsel for the second
defendant, Oyetola Oshobi, SAN, made similar application.

Ruling on the applications for bail, the court admitted the
defendants to bail on in the sum of N50 million with two sureties each
in like sum.

The court further ruled: “The sureties may be either civil servants
of not less than the rank of assistant director or be private
businessmen or professionals provided that one of the sureties is a
civil servant, the other surety being a private businessman or a
professional must be the owner of a landed property of sufficient value
within Abuja metropolis, excluding the satellite towns,” the trial judge
held.

Justice Dimg alt=’ N8bn fraud: Skye Bank chairman Tunde Ayeni
arraigned in court, gets 36 hours to fulfill his bail conditions from
home’ class=’img-responsive text-center’ style=’margin: auto;’ba added
that: “But where the two sureties are private businessmen or
professionals, they must show evidence of landed properties of
sufficient value within Abuja metropolis excluding the satellite towns.

“The defendants shall deposit their international passports before
the court and shall not travel outside the country without the
permission of the court”.

The court further gave the defendants 36 hours to meet the bail conditions or be remanded in Kuje prison.

The matter was thereafter adjourned to February 13 and 14, 2019, for “commencement of trial”.

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