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Alleged ₦15.66bn Fraud: Ex-Skye Bank chairman remanded in Kuje prison

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A High Court of the Federal Capital Territory (FCT), sitting at Apo, on Monday remanded a former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, in prison custody over his alleged involvement in a N15.665 billion fraud.

The remand followed his arraignment on a 17-count charge preferred against him by the Economic and Financial Crimes Commission (EFCC).

Though the defendant pleaded not guilty to the charge, trial Justice Jude Onwuzuruike held that he should remain in Kuje Prison until May 13, when his bail application will be heard.

The charge before the court borders on criminal breach of trust, misappropriation, and conversion of investors’ funds to the tune of N15,665,085,429 (Fifteen Billion, Six Hundred and Sixty-Five Million, Eighty-Five Thousand, Four Hundred and Twenty-Nine Naira).

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Justice Onwuzuruike, before adjourning the case, turned down an application by the defence lawyer, Mr. Ahmed Raji (SAN), for the defendant to be released to him or returned to EFCC custody pending determination of the bail application.

He further drew the court’s attention to the fact that his client had been served with a copy of the charge on a public holiday.

Meanwhile, EFCC counsel Mr. Ekele Iheanacho (SAN) hinted that the anti-graft agency would oppose the defendant’s bail request.

The prosecution counsel, while applying for a trial date, urged the court to remand the defendant in a correctional centre.

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Some of the counts in the charge against the defendant read: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between 21st 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 Nos: 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.”

“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 the same Act.”

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Gov Adeleke reveals what TInubu told him about Osun account freeze

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Osun State Governor, Ademola Adeleke, has disclosed what President Bola Ahmed Tinubu told him after the Economic and Financial Crimes Commission (EFCC) froze the state government’s account.

The governor spoke on Tuesday during the Arise Town Hall for Osun governorship candidates ahead of Saturday’s election, while responding to questions about his relationship with Tinubu and allegations of federal interference in the election.

Adeleke said Tinubu told him he was embarrassed by the development and insisted that the action was unacceptable, stressing that the president had assured him of a free and fair election.

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According to Adeleke, the president’s intervention showed that Tinubu was not responsible for ordering the freezing of the state’s account, contrary to claims attributed to some political actors.

He alleged that his predecessor, Gboyega Oyetola, had been using Tinubu’s name to influence federal agencies because of his relationship with the president, who is Oyetola’s cousin.

Adeleke said Tinubu had a demanding national responsibility and might not always be aware when his name was being invoked by individuals seeking to influence government agencies.

And Mr. President promised a free and fair election. It is, politics is local.

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“It is Oyetola that is feeling that pain of defeat, and he has vowed that he will destroy Osun State by dropping Mr. President’s name to destroy Osun State. Look, he’s not the only one from Osun State. We own Osun State together. We will not allow that to happen. So he’s the one, he’s the one using federal might. I can say it without fear.” (Nigerian Tribune)

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ASUU declares indefinite strike in Ondo varsities

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The Academic Staff Union of Universities (ASUU), Adekunle Ajasin University, Akungba-Akoko (AAUA) branch, has declared an indefinite strike over the state government’s alleged failure to implement the 2025 Federal Government-ASUU agreement.

With the development plunging academic activities at the institution into another round of industrial action, the strike comes barely a week after the union suspended an earlier strike called over unpaid salary backlogs, following the receipt of outstanding payments.

The industrial action also extended to Olusegun Agagu University of Science and Technology (OAUSTECH), Okitipupa, where the union has similarly embarked on an indefinite industrial action over the same issue.

The FGN-ASUU 2025 agreement includes upgraded salary structures alongside a 40 percent salary review for academic staff and payment of accumulated salary arrears, representing a significant financial commitment from the state government.

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Meanwhile, the union has directed all members to suspend all academic activities with immediate effect, including final year defenses, school board meetings, departmental meetings, postgraduate teaching and examinations, marking of examinations, and all other academic activities.

Prof. Boluwaji Oshodi, Chairman of ASUU at AAUA, disclosed the decision on Tuesday in Akure, stating that the union had exhausted all avenues of engagement with the state government before arriving at the resolution.

Oshodi expressed concern over the state government’s reluctance to implement the package, noting that several other state governments across the federation had already commenced implementation of the agreement.

According to the AAUA-ASUU Chairman, the union had given sufficient considerations to the state government through several letters and meeting requests but was met with inaction regarding the main agreement.

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He emphasized that members would not return to the lecture rooms on mere promises or commitments unless concrete actions were taken by the state government.

“The union has just declared an indefinite, total, and comprehensive strike over the non-implementation of the Federal Government of Nigeria (FGN)/ASUU 2025 agreement. The resolution is that if that agreement is not implemented here, and the arrears from January are not paid, we are not going to resume.”

The union chairman stressed that the academic staff had lost patience with verbal commitments and would only accept reasonable actions from the government.

“We are not ready to listen to anything like commitment again. What we want now is action,” he stated.

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Oshodi questioned the disparity in treatment between Ondo State and other states, pointing to the state’s status as an oil-producing region, emphasizing that “Why will our own be different in Ondo State, an oil-producing state?”

The union leader maintained that while members remained open to dialogue, resumption of work would not precede full implementation and payment of all outstanding entitlements.

“The union is always open, but the truth of the matter is that the implementation must commence, and the arrears from January to date must be paid.”

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NANS seeks NELFUND access for Nigerians studying abroad

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The National Association of Nigerian Students, Turkish Zone, has appealed to the Senate to extend the Nigeria Education Loan Fund to eligible Nigerians studying in accredited institutions abroad.

The association made the call during an engagement with the Vice Chairman of the Senate Committee on Diaspora and Non-Governmental Organisations, Anthony Siyako Yaro.

In a statement released on Tuesday, NANS President, Turkish Zone, Daniel Okpala, said the delegation sought greater government attention to the welfare and educational financing challenges confronting Nigerian students in the diaspora.

According to Okpala, the increasing number of Nigerians studying overseas requires a corresponding review of government policies on education financing.

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“The increasing number of Nigerians pursuing higher education abroad requires corresponding attention from government in its education financing policies,” he said.

NANS specifically called for a review of the existing NELFUND framework to enable qualified Nigerian students enrolled in accredited foreign institutions to benefit from government-backed education loans.

The association said students studying abroad were facing rising financial pressures due to tuition, accommodation costs and exchange rate fluctuations.

It argued that students should not lose access to government educational support solely because they chose to pursue their studies outside Nigeria.

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“Nigerian students should not lose government-backed educational support simply because they are pursuing their studies outside the country,” the association said.

NELFUND was established under the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024, to provide loans to eligible Nigerians for higher education, vocational training and skills acquisition.

NANS therefore urged the Senate to consider a legislative framework that would extend the scheme to qualified Nigerians studying abroad.

The association described the proposed expansion as “a significant step towards expanding educational opportunities and reducing the financial barriers faced by Nigerian students studying abroad.”

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In the response to the statement, Yaro expressed willingness to examine the proposal and explore the appropriate legislative process for broadening the reach of NELFUND.

The senator also acknowledged the need for Nigerians in the diaspora to be adequately represented in national policy and legislative discussions.

The delegation further called for stronger engagement between Nigerian diplomatic missions and student communities, particularly in countries with large Nigerian populations.

The association pledged to continue engaging lawmakers and relevant government institutions on policies affecting the education and welfare of Nigerian students in the diaspora.

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