Revealing! Skye Bank Chairman Owes The Bank N102 Billion


Shocking revelations have emerged following the announcement by the management of Skye Bank PLC today that some of its top officers had voluntarily resigned.

Reports say that Mr. Tunde Ayeni, Chairman Skye Bank Board of Directors, owes the bank at least N102 billion.

Mr. Ayeni had been owing the bank for several years. He resigned his position on the bank’s board today, alongside the Managing Director and some other Executive Directors.

The Central Bank of Nigeria (CBN) had earlier disclosed its plans to take over the bank due to distress arising from bad loans and insider malpractices by board members.

In a statement, Skye Bank management said the CBN has approved the appointment of Alhaji M.K Ahmad as the new Chairman of the Board, and Mr. Tokunbo Abiru as the new Group Managing Director and CEO.

Former Chairman of the distressed Skye Bank, Mr. Ayeni, is a close associate of former President Goodluck Jonathan.

He had taken over what used to be Eko Bank, Bond Bank, and Prudent Bank. He then used interbank loans to acquire Mainstreet Bank for N135 billion and later merged all of them to form Skye Bank.

Since the bank was formed, the bank has been consistently abused by its owners, who collect loans without collateral, and use them to fund lavish lifestyles and the acquisition of an assortment of private companies.

READ ALSO:  Breaking! CBN Sacks Skye Bank Top Executives

Mr. Ayeni is alleged to have bought parts of an unbundled electricity company from what used to be the Power Holding Company of Nigeria, PHCN, using Skye Bank funds.

He is also alleged to be the owner of Ibadan and Yola Electricity Distribution Companies, Nigeria Telecommunication Limited (NITEL) now NTEL as well as a private jet.

Skye Bank Chairman Owed The Bank N102 Billion

The ousted bank Chairman was also a close associate of the late Bayelsa governor, Diepreye Alamieyeseigha, and was linked with money laundering allegations concerning the late governor.

Other non-executive directors of the bank who owed the bank huge sums of money include Jason Fadeyi, chairman of Pan Ocean Oil company, owing N90billion.

Reports also have it that several businesses with links to Skye Bank that owe large sums to it have refused to pay back or service their loans.

Such companies include Atlantic Energy, owned by oil magnates Jide Omokore and Kola Aluko, owing N70b; Oando Oil Company, N20b; Kola Aluko’s brother, Kunle, a non-executive director of Skye Bank who also reportedly resigned from the bank’s board today also owes the bank.

According to SaharaReporters, Heritage Bank, which is said to be co-owned by Mr. Ayeni and Senate President Bukola Saraki, is next in line for a takeover by the Central Bank.

READ ALSO:  Read What Skye Bank Did To Survive The Economic Crunch

The report also alleges that the CBN is looking to kick out Board Chairman, Chief Oba Otudeko from the board of First Bank of Nigeria due to his indebtedness of about N82billion.

Outgoing MD of Skye Bank, Timothy Ogunoye, in his resignation letter today, lamented his frustration to revive the bank, saying his efforts were hindered by forces within and outside the bank.

Members of the new CBN-appointed board include; Alhaji M.K Ahmad (Chairman), Mr. Tokunbo Abiru (Group Managing Director and CEO), while Messrs. Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu will continue in their positions as Executive Directors.