INEC COMMENCES DISTRIBUTION OF ELECTORAL MATERIALS FOR SENATORIAL BYE ELECTION IN RIVERS STATE. (PHOTO).

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 INEC COMMENCES DISTRIBUTION OF ELECTORAL MATERIALS FOR SENATORIAL BYE ELECTION IN RIVERS STATE The Independent National Electoral Commission, INEC, in Rivers state has commenced the distribution of electorial materials ahead of Saturday June 20 senatorial election for Rivers South East Senatorial District. While distributing the materials at the Central Bank of Nigeria office in Port Harcourt, Rivers State Resident Electoral Commissioner  Johnson Alalibo Senikien assured of a free fair and transparent process. Four political parties are participating in the bye-election holding in seven  local government areas, with a total registered voters put at 858, 573 across 1,629 polling units. The bye election aims to fill the vacuum created, following the death of  Barry Mpigi, who was representing the Federal constituency.
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EFCC ARRAIGNS FORMER SKYE BANK CHAIRMAN, TUNDE AYENI FOR N15.6B FRAUD. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Former  SKye Bank Chairman,  Tunde Ayeni for N15.6b Fraud


The Economic and Financial Crimes Commission, EFCC, on Monday, May 4, 2026, arraigned a former Chairman, Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni before Justice Jude Onwuzuruike of the Federal Capital Territory, FCT,   High Court, Apo, Abuja.


Ayeni was arraigned on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors' funds to the tune N15,665,085,429 (Fifteen Billion, Six hundred and Sixty five Million, Eighty five thousand, Four Hundred and Twenty-nine Naira (N15,665,085,429).


Prosecution counsel E.E. Iheanacho, SAN, informed the court that the matter was slated for arraignment and prosecution ready for trial.


"We have before the court 17-count charge dated April 28, 2026, we humbly apply that the charge be read to the defendant”, he said. 


Count three of the charge reads: "That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between 21st of October, 2014 and 19th November, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors funds domiciled in the defunct Skye bank Plc's Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of Three billion, Two hundred and One million, Five Hundred and Thirty Five Thousand, Four Hundred and Twenty Nine  Naira, Forty two kobo(N3,201,535,429.42) by transferring same to Misa Limited's account No: 1011295717 and 1011295718 domiciled with Zenith Bank in Violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.

 


Count five of the charge reads: "That you Tunde Ayeni, whilst being the Chairman,  Board of Directors of the Defunct Skye Bank Plc on or about 27th November, 2014, at Abuja within the Jurisdiction of this Honourable Court and having dominion over depositors' funds domiciled in the defunct Skye bank Plc's Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Billion, Seventy Eight million, Five hundred and Fifty thousand Naira(N5, 078,550,000) by transferring same to Union Registrar Limited's Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act."


Ayeni pleaded "not guilty" to the charges when they were read to him. 


In view of his "not guilty" plea,   Iheanacho prayed the court for a trial date and urged the court to remand the defendant in a Correctional Centre.  


 Defence counsel, Ahmed Raji Bashir, SAN, informed the court that the charge was given to the defendant on a public holiday adding that he considered it imperative to inform the court. He also  prayed the court to release the defendant to him or return him to the custody of the EFCC.


 Justice Onwuzuruike  adjourned the matter to May 13, 2026, for hearing of  the bail application, while the defendant was remanded at the Kuje Correctional Centre pending determination of bail application.

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