Tunde Ayeni Denied Bail in N15.6bn Fraud Case, Court to Rule on May 25

The FCT High Court in Abuja has refused bail to former Skye Bank chairman Tunde Ayeni over an alleged N15.6 billion fraud. Ayeni pleaded not guilty to a 17-count charge and was remanded on May 4. At Wednesday’s hearing, Ayeni’s lawyer argued he had been granted administrative bail by the EFCC before the remand. The defence insisted he deserved the presumption of innocence and that the offences were bailable. EFCC counsel opposed bail, presenting a 23-paragraph counter-affidavit with exhibits to justify continued detention. Justice Jude Onwuzuruike adjourned the ruling on the bail application until May 25.

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