Tunde Ayeni Breaks Silence: Skye Bank Collapse Driven by Politics, Not Mismanagement
Former Chairman of Skye Bank Plc, Tunde Ayeni, has attributed the bank’s collapse to political interference rather than financial mismanagement or governance failures, as previously reported by the Central Bank of Nigeria (CBN).
Speaking in an exclusive interview, Ayeni expressed regret over the demise of the once-thriving bank, insisting its licence was withdrawn not because of operational failure but due to undisclosed political motives. “The bank’s failure was not because we didn’t run it well or didn’t know what to do. Neither was it that the bank was not doing well. It failed because the licence just had to be withdrawn, and it was withdrawn,” he stated.
Ayeni, a seasoned lawyer and businessman, recounted his entry into the financial sector, inspired by his desire to support entrepreneurship and small businesses. His journey began at Bond Bank, which eventually merged with other institutions to form Skye Bank Plc. Despite initially stepping back from boardroom activities, he later returned to protect his investment, eventually rising to become chairman in 2011.
During his tenure, the bank experienced notable growth. However, in a dramatic turn of events, the CBN revoked the bank’s licence in 2018, citing alleged corporate governance issues and mismanagement allegations Ayeni now categorically reject “There is politics in every aspect of human endeavour,” he added. “No matter how smart you might be, you can only see what is in front of you and hardly see what lies behind you.”
Ayeni’s remarks suggest that hidden political agendas, rather than financial failings, were instrumental in Skye Bank’s collapse—a claim that, if substantiated, could cast a new light on the role of regulatory authorities in Nigeria’s banking sector.
In a separate revelation, Ayeni also addressed a personal controversy involving Adaobi Alagwu, a woman who claimed to have a child with him. “She is now history, as that chapter has been erased from my life trajectory,” he said, dismissing the matter.
As Ayeni’s claims stir public interest, they open the door to deeper scrutiny into the true causes of Skye Bank’s demise. Whether his comments will prompt official investigations or be dismissed as post-facto justifications remain to be seen. For now, his statements have reignited debate over the intersection of politics and finance in Nigeria.
