Ex-Skye Bank chair Tunde Ayeni granted bail

Tunde Ayeni, former chairman of Skye Bank Plc (now Polaris Bank) and ex-managing director of the bank Timothy Oguntayo have been granted bail after they appeared in court on Monday for money laundering offences.

Justice Nnamdi Dimgba of the Federal High Court Abuja admitted each of the defendants to bail at N50million each.

The duo are facing an eight-count charge bordering on money laundering offences involving about N4.75billion and $5million.

The Economic and Financial Crimes Commission (EFCC) said that the offences were committed between 2014 and 2015.

Messrs Ayeni and Oguntayo have also pleaded not guilty to the charges.