A former Chairman of the defunct Skye Bank Plc (now Polaris Bank), Tunde Ayeni, and a former Managing Director (MD) of the bank, Timothy Oguntayo have been admitted to bail in the sum of N50 million each.
On Monday, December 17, 2018, Justice Nnamdi Dimgba of a Federal High Court in Abuja admitted the duo to bail in the sum of N50 million each. Dimgba also ordered the duo to produce two sureties each in like sum
The Economic and Financial Crimes Commission (EFCC) had filed charges against Ayeni and Oguntayo. The EFCC alleged that the duo were involved in laundering offences amount to about N4.75 billion and $5 million that led to their arraignment between 2014 and 2015, which they pleaded not guilty.
In the situation where the duo are unable to perfect their bail conditions within 36 hours, the judge ordered that they would be remanded in Kuje Prison.
The charge filed against the duo reads:
“YOU, MR 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 2014 AND 2015 CONSPIRED AT DIFFERENT TIMES TO DO AN ILLEGAL ACT.”
The agency said Ayeni received the delivery of the sums of money totalling N4.75 billion and $5 million belonging to Skye Bank Plc contrary to the provisions of Section 1(a) and 18(a) of Money Laundering (Prohibition) Act 2011 (as Amended) and punishable under Section 16(2) (b) of the same Act.