The Economic and Financial Crimes Commission have arrested and detained a former Chairman of Skye Bank Plc (now Polaris Bank), Tunde Ayeni, for fraud, Punch reports.

Ayeni was chairman of the bank before it’s license was revoked by the CBN in September this year. The former bank boss is alleged to have mismanaged the defunct bank’s funds which almost led to its collapse. 

According to reports, the EFCC has filed charges against Ayeni at a Federal High Court in Maitama and he will be arraigned in court soon. He is currently being detained by the anti-graft agency.

The Central Bank of Nigeria, NDIC and AMCON had revoked the operating licence of Skye Bank following its financial instability, thus necessitating the regulators to rename it Polaris Bank and made a capital injection of about $2bn.

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