The Economic and Financial Crimes Commission (EFCC) has arrested businessman and former chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over allegations of large-scale financial fraud.
Ayeni was reportedly picked up in Abuja and is currently being held by the anti-graft agency as investigations into the matter continue.
According to available information, the EFCC is probing the alleged diversion and mismanagement of funds estimated at about N36.5 billion and $30 million.
The money is believed to have been accessed through Polaris Bank Plc and linked business entities connected to the former bank chairman.
Authorities say the investigation is ongoing as efforts continue to trace how the funds were moved and used.