Post by Arise News (@arisenews)

A High Court of the Federal Capital Territory has granted former Skye Bank Board Chairman, Tunde Ayeni, bail in the sum of N200 million despite opposition from the Economic and Financial Crimes Commission (EFCC) in his ongoing alleged N15.6 billion fraud case. Ayeni, who faces a 17-count charge, pleaded not guilty to all allegations brought against him.

Justice Jude Onwuzuruike ruled that the purpose of bail is to ensure a defendant’s appearance in court and noted that claims Ayeni could interfere with the trial were speculative. The court also reaffirmed the principle that every accused person remains innocent until proven guilty.

The bail conditions include two federal civil servant sureties with properties valued at N500 million, while one must provide a N15 billion bank guarantee undertaking. The case also revives attention on earlier arguments that the disputed transactions were commercial banking arrangements rather than criminal conduct.

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