The former Chairman, Board of Directors, Skye Bank Plc (now Polaris Bank), Tunde Ayeni and the former Managing Director, MD of the Bank, Timothy Oguntayo, have been arraigned by the Economic and Financial Crimes Commission, (EFCC) before Justice Ijeoma Ojukwu, of a Federal High Court, Abuja, on an eight-count charge bordering on money laundering to the tune of N8 billion.
According to the statement by EFCC, Dr Tunde Ayeni and Timothy Oguntayo were initially arraigned before Justice Nnamdi Dimgba of a Federal High Court, Abuja on December 17, 2018, shortly after which the judge was transferred out of Abuja to the Delta Division of the Court. The case was thus re-assigned to Justice Ojukwu, necessitating the need for their re-arraignment.
One of the counts reads: “That you, Dr. Tunde Ayeni whilst being the Chairman, Board of Directors of Skye Bank Plc and Timothy 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 the charges.
Wole Olanipekun, SAN lead defence counsel applied that the Court allow the defendants to continue on the bail terms earlier granted them by Justice Dimgba.
Counsel for the EFCC, Suraj Saeda, SAN noted that the defendant had been attending court as expected, and had not jumped bail, adding that, “we have no objection to deny them bail on the condition imposed by Justice Dimgba.”