The Economic and Financial Crimes Commission (EFCC) has taken into custody a former chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over allegations of financial misconduct involving about ₦36.54 billion and $30 million.

Ayeni was apprehended in Abuja on Thursday, April 23, 2026, and is currently being held at the commission’s detention facility.

His arrest followed an ongoing probe by the EFCC into claims that large sums of money—reportedly sourced as loans from Polaris Bank Plc—were improperly handled through several firms associated with him.

Investigators said the funds, initially secured for designated projects, were allegedly redirected into accounts of other companies. The loans were said to have been intended for ventures such as maritime security operations, power distribution contracts, and real estate development.

However, findings indicate that the money was instead channelled into the acquisition of NITEL/MTEL assets through a NATCOM-linked account.

The anti-graft agency is examining the activities of at least twelve companies connected to Ayeni, which are believed to have been used to obtain the loans under questionable circumstances.

The EFCC maintains that the funds involved were depositors’ money that was unlawfully accessed and misapplied.

Ayeni is expected to face charges in court upon the conclusion of investigations.

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BY NKECHI NAECHE-ESEZOBOR—Seplat Energy Plc has reinforced its position as Nigeria’s leading indigenous energy company, recording strong investor confidence and multiple high-profile recognitions across regulatory, market, and industry platforms.

The company made history on April 14 as the first firm on the Nigerian Exchange to surpass the ₦10,000-per-share mark, with its stock climbing to about ₦10,450—an indication of robust institutional demand and positive sentiment around its expanding asset base and earnings outlook.

Further strengthening its profile, Seplat secured the Platinum Award at the ICAN–NGX Regulation Limited Corporate Reporting Awards on April 21, ranking first among listed companies in financial reporting quality, corporate governance, and sustainability disclosures.

In addition, Seplat entered the Top 10 Most Valuable Brands in Nigeria for the first time, ranking ninth in the 2026 Brand Finance Nigeria 25 Report, with brand value nearly doubling to ₦194.5 billion—the fastest growth among ranked companies.

The company also earned the Energy Company CSR Excellence Award at the Energy Times Awards 2026 and was named Outstanding Energy Company of the Year 2025 at the Industry Newspaper Awards, reflecting its strong commitment to sustainability and community investment.

Chief Executive Officer Roger Brown attributed the company’s performance to its expansion into offshore operations and sustained onshore output, which have boosted cash flow and reduced borrowing costs.

Seplat said it remains on track to deliver $1 billion in cumulative returns to shareholders by 2030, as it balances growth, shareholder value, and Nigeria’s energy transition goals

About Seplat Energy

Seplat Energy Plc is Nigeria’s leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL). Through our strategy to build a sustainable business and drive the energy transition, we are transforming lives by delivering affordable, reliable, and sustainable energy that drives social and economic prosperity.

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