The Ecoonomic and Financial Crimes Commission (EFCC) yesterday re-arraigned the former Chairman, Board of Directors (BoD) of the defunct Skye Bank (now Polaris Bank), Tunde Ayeni, before the Federal Capital Territory (FCT) High Court, Apo, Abuja, over an alleged N15.6 billion fraud case.

Also, former governor of Delta State, Ifeanyi Okowa, was sighted yesterday at the Lagos Directorate 1 EFCC on Awolowo Road, Ikoyi, in connection with the investigation into the alleged diversion of N1.3 trillion in 13 per cent derivation fund from the Federation Account between 2015 and 2023.

Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation and diversion of funds, following the EFCC’s submission of additional evidence.

Prosecution counsel, Abba Muhammed (SAN), informed the court that the amended charge and additional evidence were filed on June 22, 2026.

Defence counsel, Abdul Mohammed (SAN), confirmed receipt of the documents.

The EFCC alleged that Ayeni, while serving as Chairman of Skye Bank’s BoD, had control over depositors’ funds and allegedly diverted various sums in breach of the bank’s operational policies.

He was first arraigned on May 4, 2026, on 17 counts.

Justice Jude Onwuegbuzie adjourned the matter until July 6, 2026, for the commencement of the trial.

OKOWA was first arrested on November 4, 2024 and detained for questioning at the EFCC’s Port Harcourt Zonal Directorate.

At the Lagos office, sources say Okowa was making frantic efforts to secure the release of his international passport.

The former governor reportedly told investigators he needed to travel abroad for urgent medical treatment.

The commission’s response to his requests remains unclear.

The Delta North politician was governor of Delta from 2015 to 2023 under the Peoples Democratic Party (PDP), and later emerged as the party’s vice-presidential candidate in the 2023 general election alongside Atiku Abubakar.

Okowa defected to the All Progressives Congress (APC) alongside his successor, Sheriff Oborevwori, and other political figures in the state in April 2025.

Attempts to get an official reaction from EFCC spokesperson, Dele Oyewale, proved abortive, as his phone rang out without response when contacted.

The probe into the N1.3 trillion derivation fund is one of the commission’s high-profile cases targeting alleged mismanagement of oil revenue by past officials.