N2.45bn Fraud: EFCC Re-Arraigns Ex-Bayelsa Gov, Sylva

The Economic and Financial Crimes Commission,
EFCC, on Monday, May 18, 2015 re-arraigned a
former governor of Bayelsa State, Timipre Sylva
before Justice E. S Chukwu of the Federal High
Court sitting in Maitama, Abuja on a six count
charge of fraud to the tune of N2.45bn (two
billion, and forty five million naira).
Sylva allegedly converted N2bn (two billion naira)
worth of properties and resources belonging to
Bayelsa State between 2009 and 2010, during his
tenure as governor of the State, an offence
punishable by the Money Laundering Act.
He was also alleged to have induced Union Bank Plc
to grant him an overdraft facility of N2bn on the
pretext of using the money to augment workers’
salary.
It will be recalled that, the former governor also
has similar charges pending against him before
Justice Ahmed Mohammed of the Federal High
Court, Abuja .
Sylva had earlier pleaded not guilty to the charge
when he was first arraigned for the offences
before Justice Adamu Bello (retd.) on June 5,
2012.
The matter had to start de novo (afresh) following
the retirement of Justice Bello, a development
which prompted Sylva’s re-arraignment before
Justice Chukwu on Monday.
Upon his plea, Sylva’s counsel, Israel Olorundare,
SAN, through an oral application sought bail for the
former governor.
The prosecuting counsel, Festus Keyamo,
represented by John Ainetor, did not oppose the
bail application.
Ainetor, however, asked the judge to grant Sylva
bail in terms that would ensure that, the accused is
always in court to stand his trial.
Justice Chukwu, subsequently, admitted Sylva to
bail on conditions and terms previously granted by
the former trial judge.
The case has been adjourned to May 25, 2015 for
commencement of trial.
Media & Publicity Unit