Alleged ₦15.6 Billion Fraud: EFCC Presents First Witness Against Tunde Ayeni

The Economic and Financial Crimes Commission (EFCC), on Monday, July 6, 2026, presented its first prosecution witness (PW1) before Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja, in the trial of former Chairman of the Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited), Tunde Ayeni.

The EFCC is prosecuting Ayeni on an 18-count amended charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds totalling ₦15.6 billion.

The defendant was first arraigned on May 4, 2026, on a 17-count charge and was subsequently re-arraigned on June 22, 2026, after the Commission filed an amended charge supported by additional proof of evidence.

At Monday’s proceedings, the prosecution counsel, Abba Muhammed, SAN, presented the first prosecution witness (PW1), who identified himself as Remigus Ugwu, a staff member of Zenith Bank.

The matter was thereafter adjourned until July 16, 2026, for the continuation of the trial.