Home FEATURED Court To Appraise Out-Of-Court Settlement Agreement On Ayeni’s Alleged N25bn Fraud, April...

Court To Appraise Out-Of-Court Settlement Agreement On Ayeni’s Alleged N25bn Fraud, April 7

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Justice Ijeoma Ojukwu of Federal High Court Abuja, on Tuesday, January 28, 2020 adjourned the trial of former chairman, board of directors, Skye Bank Plc; (now Polaris Bank), Tunde Ayeni and the former managing director of the bank, Timothy Oguntayo until April 7, 2020 and April 21, 2020 for appraisal of the out of court settlement and trial of the matter, respectively.

The defendants are facing a 10-count charge, bordering on money laundering to the tune of N25,415,080,000 (Twenty-five Billion, Four Hundred and Fifteen Million, Eighty Thousand Naira) and wish to make an out-of court settlement of the matter that will involve the prosecuting Economic and Financial Crimes Commission, EFCC and the Central Bank of Nigeria, CBN.

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