The Federal Capital Territory High Court on Monday ordered the remand of former Skye Bank chairman, Tunde Ayeni, in the Kuje Correctional Facility pending the hearing of his bail application. The decision was made by Justice Jude Onwuegbuzie after the defence requested additional time to argue for bail.
Ayeni was brought before the court on a 17-count charge filed by the Economic and Financial Crimes Commission (EFCC). The charges are related to alleged money laundering involving approximately N8 billion.
During the court session, Ayeni entered a plea of not guilty to all the charges brought against him. Following his plea, the prosecution counsel, Ekele Iheanacho, SAN, requested that the court fix a date for the commencement of trial proceedings.
Iheanacho also urged the court to remand the defendant in custody pending the start of the trial. The request was granted, resulting in Ayeni’s remand at the Kuje Correctional Facility.
In response, Ayeni’s counsel, Ahmed Raji, SAN, informed the court that a bail application had already been filed on behalf of the defendant. He noted that the application was submitted earlier in the day and had been served on the prosecution.
Raji explained that the charges were only served on Ayeni by the EFCC on Friday, May 1, which coincided with a public holiday. He argued that the defence needed adequate time to properly present the bail application before the court.
The defence counsel requested a short adjournment to allow for the bail application to be heard. He further appealed to the court to release Ayeni into his custody, along with that of another senior advocate, Olalekan Ojo, SAN.
Raji assured the court that the defence team would ensure Ayeni’s presence at the next hearing if he were granted temporary release. He emphasized Ayeni’s professional standing, noting that the defendant has practiced law for over 35 years.
Despite the plea from the defence, the court declined to grant immediate bail and instead ordered that the application be heard at a later date. Justice Onwuegbuzie subsequently adjourned the case until May 13 for the hearing of the bail application.
The case is part of ongoing efforts by the EFCC to prosecute individuals accused of financial crimes, particularly those involving large-scale money laundering. The commission alleges that Ayeni was involved in financial transactions amounting to billions of naira, though the details of the charges are expected to be further examined during trial.
Ayeni’s remand means he will remain in custody until the court considers arguments from both the defence and prosecution regarding his bail request. The outcome of the bail hearing may determine whether he continues to be held in custody or is released under specific conditions pending trial.
The proceedings are expected to resume on May 13, when the court will hear the bail application and possibly set further directions for the trial.
