Heritage Bank Battles Controversial Businessman, Tunde Ayeni Over N40bn Debt

Heritage Bank
Heritage Bank Battles Controversial Businessman, Tunde Ayeni Over N40bn Debt

Billionaire Tunde Ayeni is currently embroiled in a legal battle with Heritage Bank over an alleged unpaid N40 billion loan.

All You Need To Know About Heritage Bank’s Battles With Tunde Ayeni

BrandSpur Nigeria understands that Tunde Ayeni, a controversial businessman and former chairman of the defunct Skye Bank Plc is reportedly facing a financial scandal related to an alleged unpaid N40 billion loan that he secured from Heritage Bank.

Heritage Bank has petitioned the Economic and Financial Crimes Commission (EFCC) regarding Ayeni’s indebtedness to the bank. The bank is seeking the EFCC’s intervention to recover the alleged outstanding funds.

Before now, Tunde Ayeni has been involved in previous controversies, including a legal battle with Skye Bank (which was later rebranded as Polaris Bank) over alleged financial impropriety during his tenure as chairman. The alleged actions of Ayeni and another individual led to the downfall of Skye Bank, prompting a Central Bank of Nigeria (CBN) intervention.

On his indebtedness to Heritage Bank, BrandSpur Nigeria gathered that there was an initial arrangement for the Asset Management Company of Nigeria (AMCON) to take over the debt, but as of the time of filing this report, nothing has been done.

Meanwhile, Heritage Bank has been unable to take over the properties Ayeni used as collateral for the said loan for other legal reason

Ayeni’s Legal Team Deny Indebtedness To Heritage Bank

While Heritage Bank has taken legal action and approached the EFCC for intervention, Ayeni’s legal team denies any indebtedness to the bank. Ayeni’s representative, Ozenna Utulu, stated that there is no legal battle between Ayeni and the bank.

Heritage Bank Bankruptcy Concerns 

BrandSpur Nigeria reports that Heritage Bank has been facing its own financial challenges, and its inability to meet obligations to depositors has worsened over time. There have been instances of customers’ deposits being at risk.

The recovery of the alleged unpaid sum from Ayeni could be crucial for Heritage Bank’s financial stability and ability to meet its obligations to depositors.