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
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