The Economic and Financial Crimes Commission has filed an eight-count of money laundering against a former Chairman of Skye Bank Plc (Now Polaris Bank), Mr. Tunde Ayeni.

The charges which were filed before the Federal High Court, Abuja, said Ayeni and one Timothy Oguntayo conspired to withdraw N4.750 billion and $500 million belonging to Skye Bank Plc contrary to the provisions of Section 1(a) of Money Laundering (Prohibition) Act 2011 as amended.

Details later.

Tunde Ayeni is one of many criminals who miss the father Christmas regime of Goodluck Jonathan and PDP.

Billionaires like him were all swimming in wealth and buying up national assets during the Jonathan era when crude oil revenue was so high, yet government savings that previous regimes who never had such oil windfall had managed to prudently save, was ran down to near nothing.

All manner of deals that were not beneficial to government or the Nigerian people, were being struck left right and center once visits are paid to Diezani, Okonjo-Iweala, Jonathan and President Patience the billionaire civil servant cum absentee permanent secretary in Bayelsa State.

Jonathan regime was the forerunner of the MMM ponzi , which depended on crude oil to continue selling at over $100/barrel. The moment oil price began plunging downwards to $50/barrel, it became evident that the economic facade termed growth by the Jonathan regime, would crumble to reveal the many ills being carefully hidden.

The same regime touted to hindividualsout 51% of all petrodollars earnings since Nigerian oil production started in 1956 up to 2016, only had Almajiri Schools and 2nd hand trains to show for such immense revenue, talkless of the deliberate waivers given to cronies and sales of government assets to economic vagabonds at ridiculously low valuations, denying the public purse of funds that should have accrued.

By the time everything fell apart in 2015, we suddenly realised the Jonathan regime was owing its IOC JV partners over $6b ($5.1b) debts from unpaid counterpart funding of JV oil developments, despite all the oil revenue.


Okonjo-Iweala admitted in May 2015, that the federal government had already borrowed N470b ($2.5b) just so as to pay civil servant salaries for Feb/Mar/April 2015.

Foreign Reserves had plummeted from $47b in 2010 to $29b in 2015.

With savings now at near zero, debts had already tripled in the same regime that claimed to have improved the economy, yet no commodity in Nigeria sold cheaper or remain stable in 2015, compared to their prices in 2010.

Tunde Ayeni's ponzi wealth amassed during that irresponsible regime of Jonathan, has suddenly been proven to be a value not derivative from a commodity or a service, but derivative of corruption, cronyism, and appropriation of national wealth for the benefit of a corrupt few.