Why we are detaining billionaire businessman, Tunde Ayeni — EFCC

Tunde Ayeni
Tunde Ayeni

Billionaire businessman and lawyer, Tunde Ayeni, is in detention at the headquarters of the Economic and Financial Crimes Commission in Abuja in relation with the ongoing investigation of former Minister of the Federal Capital Territory, Bala Mohammed, for alleged fraud, PREMIUM TIMES can report.

Mr. Ayeni was arrested Thursday and has remained in detention ever since, with investigators asking him to refund one billion Naira his bank, Aso Savings and Loans, an Abuja-based Primary Mortgage Institution, allegedly passed to Mr. Mohammed in yet unclear circumstances.

“We will release him once he pays back the money,” an EFCC official familiar with the matter said Friday night. “We want to give the money back to the bank.”

The official said Mr. Mohammed struck a N1billion deal with Aso Savings and Loans, which transacted a N1billion land swap transaction with the FCT administration at the time.

Mr. Ayeni was vice chairman of the bank at the time.

The EFCC is investigating Mr. Mohammed, who was arrested on October 24, for alleged financial crimes in excess of N1.6 trillion.

Sources within the agency told this newspaper that Mr. Mohammed, who served from April 2010 until May 2015, was allegedly involved in extensive land racketeering while he was minister.

“After computation of the land deals that he struck, we discovered that more than N1.6 trillion could not be accounted for,” a source said.

The former minister could not be reached to comment for this story.

This is the second time Mr. Ayeni would be a guest of the EFCC.

In 2004, he was arrested in relation with the corruption trial of former Bayelsa Governor, Diepreye Alamieyeseigha.

The businessman was arrested by the commission over the matter and later mentioned in court documents as admitting helping Mr. Alamieyeseigha to execute some deals.

The EFCC has since cleared Mr. Ayeni of complicity in the Alamieyeseigha saga.

In two letters sighted by PREMIUM TIMES, the anti-graft agency admitted Mr. Ayeni was detained and questioned over some transactions during the Alamieyseigha case, but was cleared of all liabilities.

Mr. Ayeni has since then remained one of Nigeria’s most ambitious businessmen, investing heavily in almost all key sectors of the Nigerian economy – oil and gas, telecoms and power.

He was until recently the chairman of Skye Bank and was awarded Commander of the Order of Niger (CON) – a national recognition – by the Federal Government.


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:DIABETES Is CURABLE! Don't Let It Threaten You! To NORMALIZE Your Blood Sugar In 21Days For Life, Click Here!!!.

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

  • Spoken word

    How can you call Ayeni a businessman

    • KBE

      The fact that you are poor does not give you any right to suggest that others can’t be rich legally.

      • Spoken word

        Lol.another symphatiser for the corrupt

  • Dazmillion

    Only Jonathan will honor a criminal with Commander of the Order of Niger because stealing is not corruption

    • KBE

      You statement is prejudicial and criminal. You cannot label someone that has not been convicted by any law court a criminal just because he is been accused of fraud. That will not be charitable of you neither will it portray you as unbiased.

  • persona

    Commander of the Order of Niger (CON) to a con man, na only GEJ fit do that kain tin.

  • FineBoy

    Tunde Ayeni was never investing in all sectors of the economy.

    He used his conniving friends in Banks, diverted depositors money to front for politicians. Tell me where Tunde worked after graduation and his family background to justify the billions he now owns

    He is behind Skye Bank and Heritage Bank problems now

    • KBE

      His background does not need to be rosy for him to be rich. That said we must learn to put every case in perspective and avoid generalizing issues.

      • FineBoy

        Background is very relevant. You only make money through 3 ways, u work for it, u inherit or they dash u. Since his work doesn’t justify the assets and wasn’t dashed then background becomes relevant
        Money making isn’t a miracle

  • Amir

    EFCC under Jonathan cleared him, and with that procured certificate he went back into his specialist area of fraud with politicians.

    • Benny

      Ediot! Was Jonathan the President in 2004? Rather than get education, all you imbibe yourselves with his hatred. Twat

  • Kekedu

    That CON given to Ayeni should be changed to ‘Corruption of the Order of the Niger’