The Chairman and the Managing Director of the defunct Skye Bank
PLC, Tunde Ayeni and Timothy Oguntayo have been arraigned over
allegations of criminal breach of trust to the tune of N456
billion.
They were arraigned on Wednesday before an FCT High Court in Apo
by the Economic and Financial Crimes Commission (EFCC) on a
four-count charge.
The anti-graft agency alleged that the defendants committed the
offence between Jan.1, 2014 and Dec. 31, 2016.
It was alleged that the defendants being bankers, entrusted with
depositors funds, conspired and criminally breached the trust as
regards the custody of N456.6 billion.
The offences are said to contravened the provisions of section
96, 97 and 315 of the Penal Code Law.
The defendants however pleaded not guilty to the charge when
read to them.
Following their pleas of not-guilty, their counsels, , Ahmed
Raji (SAN) and E.O Akoni (SAN) applied for their bails.
The trial judge, Justice Valentine Ashi, while admitting them to
bail in the sum of N500 million each, further ordered that they
produce two sureties in like sum.
The sureties, the judge said, must be resident in Abuja or have
landed properties in Abuja.
The judge thereafter adjourned the matter to May 14 for
trial.
Read more alleged-n456bn-fraud-ex-skye-bank-chairman-md-docked/