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Home Business & Finance Banking

Skye Bank chairman Tunde Ayeni faces ₦15.7bn fraud trial amid Kuje raid allegations

Former Skye Bank chairman and Abba Kyari reportedly lose valuables during disputed correctional centre operation in Abuja.

Mariam Balogun by Mariam Balogun
May 28, 2026
in Banking, Crime, News
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Skye Bank

Kuje Correctional Centre raid allegation: Tunde Ayeni and Abba Kyari allegedly lost valuables during a disputed search operation in Abuja

Former Chairman of Skye Bank Plc, Tunde Ayeni, and suspended Deputy Commissioner of Police, Abba Kyari, have reportedly been affected by allegations of missing valuables following a disputed security operation at the Kuje Correctional Centre in Abuja, Nigeria.

Also read: FirstBank allegedly forges court document to freeze customer account

The incident, which has triggered a wave of controversy, is at the centre of a Kuje Correctional Centre raid allegation involving claims of missing cash and personal belongings during a search conducted within the custodial facility.

Sources quoted by media outlets alleged that officials of the Nigerian Correctional Service carried out a coordinated operation inside the prison yard, during which high-profile inmates were searched.

It was further claimed that Tunde Ayeni was allegedly dispossessed of his wedding ring and a luxury wristwatch reportedly valued at over ₦120 million during the operation.

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Abba Kyari was also alleged to have lost about ₦2 million in cash under similar circumstances during the same exercise, according to insider accounts.

Eyewitnesses claimed that the operation was carried out by senior correctional officers, reportedly accompanied by security operatives and dogs from the Department of State Services, DSS, creating tension within the facility.

Kuje Correctional Centre raid allegation has since raised concerns over transparency, inmate rights and accountability within Nigeria’s custodial system.

One source alleged that valuables were confiscated without proper documentation, describing the situation as troubling and chaotic.

“The former Skye Bank chairman was searched and his wristwatch and ring were taken,” one insider claimed, while another alleged that Kyari also lost cash during the exercise.

However, the Nigerian Correctional Service has yet to issue an official response to the claims as of the time of filing this report, and the allegations remain unverified.

Tunde Ayeni, a prominent businessman, is currently facing trial over alleged financial offences, while Abba Kyari is also standing trial over separate criminal allegations.

Also read: Pastor Matthew Ashimolowo reveals how he lost N96 million buying FirstBank, other shares

The controversy has further intensified public scrutiny of operations within the Kuje facility, which has previously faced security-related criticism.

Mariam Balogun
Mariam Balogun

Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.

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