By Modupe Gbadeyanka

The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been remanded at the Kuje Correctional Centre pending the determination of his bail application.

He was moved to the facility after he was brought before Justice Jude Onwuzuruike of the Federal Capital Territory (FCT) High Court, Apo, Abuja, by the Economic and Financial Crimes Commission (EFCC) on Monday, May 4, 2026.

He will remain at the correctional centre until the hearing of his bail plea on Wednesday, May 13, 2026, the judge declared.

The former banker is facing trial on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds worth N15.67 billion.

Prosecution counsel, Mr E.E. Iheanacho (SAN), informed the court that the matter was slated for arraignment and prosecution was ready for trial.

“We have before the court a 17-count charge dated April 28, 2026. We humbly apply that the charge be read to the defendant,” he said.

“That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between October 21, 2014, and November 19, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of N3.2 billion by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act,” count three of the charge read.

The count five said, “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the Defunct Skye Bank Plc on or about November 27, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of N5.1 billion by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”

After the charges were read to him, Mr Ayeni pleaded “not guilty,” prompting Mr Iheanacho to pray the court for a trial date and asking for the remand of the defendant in a correctional centre.

The defence counsel, Mr Ahmed Raji Bashir (SAN), informed the court that the charge was given to the defendant on a public holiday, adding that he considered it imperative to inform the court. He also prayed the court to release the defendant to him or return him to the custody of the EFCC.

By Adedapo Adesanya

Nigeria’s Coordinating Minister of Health and Social Welfare, Mr Ali Pate, has announced that he will no longer run for the Bauchi State governorship in 2027, despite repeated calls from supporters urging him to contest.

In a 10-minute video message delivered in Hausa and circulating on social media, Mr Pate said he reached the decision after deep reflection and wide consultations.

Citing national service as his reason, he explained that he still has much to contribute to Nigeria’s development at the national level, as well as to the progress of Northern Nigeria.

“It is unlikely that I will run for governorship in 2027, and I assure you that you will not regret the love and support you have shown me throughout this period,” he said.

Despite stepping aside, Mr Pate pledged to remain actively involved in the political process leading to the emergence of a credible candidate and his party’s victory.

“There are many aspirants seeking various elective positions in Bauchi State. The time will come when I will support credible and capable candidates who have the interest of the people at heart, not self-centred leaders. We will identify the best candidates during the primaries,” he added.

He also urged other aspirants to remain patient and unite behind those who emerge from the primaries, noting that if he could set aside his personal ambition, others should be able to do the same.

Mr Pate further stated that he would work towards ensuring the victory of the All Progressives Congress (APC) in Bauchi State at all levels, for the benefit of the people.

He thanked his supporters and promised to redouble his efforts toward delivering positive development and impactful interventions.

The Health Minister has previously contested for the governorship three times but did not secure his party’s ticket in the primaries.

His withdrawal stems the tide of his former colleagues who quit their functions to pursue elective offices. Prominent among them is Mr Yusuf Tuggar, who resigned as Minister of Foreign Affairs to contest the Bauchi State governorship. Similarly, Mr Sa’idu Alkali stepped down from the Ministry of Transportation to pursue the governorship race in Gombe State.

In addition, Mr Adebayo Adelabu resigned his position as Minister of Power to re-enter the Oyo State governorship contest, marking a return to a long-standing political ambition in the state.

While other ministers, such as Mr Yusuf Tanko Sununu and Mr Nkeiruka Onyejeocha, also resigned, their ambitions were directed toward legislative positions rather than governorship races.

By Modupe Gbadeyanka

All roads will lead to Radisson Blu Hotel, Ikeja GRA, Lagos, for the 7th edition of the Timeline Awareness Initiative Lecture and Awards scheduled for Wednesday, May 13, 2026.

Expected to grace the occasion are the Governors of Akwa-Ibom, Ekiti, and Ogun States, Mr Umo Eno, Mr Abiodun Oyebanji, and Mr Dapo Abiodun, respectively.

Others include the former Governor of Abia State, Mr Orji Uzor Kalu; the Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa; the Lagos State Commissioner for Information and Strategy, Mr Gbenga Omotoso; the Special Adviser to the President on Media and Public Communication, Mr Sunday Dare; Mr Bashir Olawale Fakorede, among others.

Business Post gathered that the lecture is being put together by an online newspaper, TimelineNG, published by a foremost journalist, Mr Yusuf Adeoye.

The theme for this year’s programme is Curbing Distortion of Events and Social Media Reporting During General Elections: A Look at Communication Style in the Government of President Bola Ahmed Tinubu.

According to Mr Adeoye in a statement, this year’s edition factored the importance of reporting accurate information or news items without any sensationalism, especially on social media, which could heat up the process, create confusion that may lead to insecurity or total disruption of the entire process ahead of the 2027 general elections.

Information gathering and disseminating during the election period play a pivotal role in keeping the people abreast with reports, particularly as it concerns updates across various locations where the polls are held.

But when vital information is distorted, the entire election process could be jeopardised. Guests and other participants will look into this matter and recommend ways to avert such incidents.