In a striking case that sheds light on the intricate web of financial disputes, Heritage Bank finds itself entangled in a legal showdown with controversial businessman Tunde Ayeni over an alleged unpaid debt amounting to a staggering N40 billion. Ayeni, the former chairman of the now-defunct Skye Bank Plc, is once again at the center of attention, grappling with financial allegations that threaten to tarnish his reputation further.
Coming hot on the heels of a recent legal battle surrounding Skye Bank, a bank he was accused of running into the ground, Ayeni is now confronting fresh allegations of financial impropriety. Heritage Bank has reportedly lodged a petition with the Economic and Financial Crimes Commission (EFCC), seeking intervention regarding the debt Ayeni supposedly owes the bank.
Sources suggest that the contentious debt in question has its origins in a loan secured by Ayeni from Heritage Bank. While an initial agreement with the Asset Management Company of Nigeria (AMCON) hinted at the possibility of a debt takeover, no such action has materialized thus far.
The legal tussle between Ayeni and Heritage Bank unfolds against the backdrop of Ayeni’s previous legal entanglements. Alongside the former managing director of Skye Bank, Timothy Oguntayo, Ayeni faced a slew of charges related to money laundering amounting to N25.4 billion in 2019. These allegations played a role in the downfall of Skye Bank, leading to its eventual acquisition by the Central Bank of Nigeria (CBN) and subsequent transformation into Polaris Bank Limited.
The Economic and Financial Crimes Commission (EFCC) had previously withdrawn its case against Ayeni and Oguntayo, prompting speculation about a potential settlement involving significant financial forfeiture. However, Ayeni’s ongoing legal woes paint a different picture, showcasing the complexities of his financial entanglements.
Inside sources at Heritage Bank have confirmed their pursuit of Ayeni’s unpaid debt through legal channels. An anonymous bank official stated, “Yes, the case is now with the EFCC… We are pursuing the process legally.” The bank is committed to recovering the funds and has expressed determination to ensure accountability.
The official emphasized the critical importance of repaying the debt, underlining that such funds are derived from depositors’ savings. The bank’s resolve to seek justice aligns with its mission to safeguard the interests of both its employees and customers.
In the event of non-compliance, the official hinted at the possibility of adopting a proactive approach similar to the one taken against former senator Andy Uba. The bank is prepared to rally and stage protests at Ayeni’s residences if necessary, highlighting the urgency and significance of the situation.
This latest development signifies an additional hurdle for Heritage Bank, which has been grappling with its own financial struggles. The institution’s ongoing challenges have underscored the broader issues within Nigeria’s financial landscape.
As the legal battle unfolds, industry observers and stakeholders closely monitor the outcome, anticipating potential repercussions for both Tunde Ayeni and Heritage Bank. The complexities of the case highlight the need for robust regulations and enforcement mechanisms to ensure the integrity of the financial sector.
Source: the witness
