Sylva faces N4.45 billion fraud allegation

Channels Television  
Updated February 24, 2012

The Economic and Financial Crimes Commission (EFCC) on Friday filed a 6-count charge against former governor of Bayelsa state, TimipreSylva, at the Federal High Court in Abuja for financial misappropriation.

According to charges filed by counsel to the anti-graft agency, Festus Keyamo, the former governor, who is said to be “at large” is accused of money laundering and embezzling state funds.

Citing series of Money Laundering (Prohibition Act), Mr Keyamo noted that the defendant committed offences contrary to the Acts and punishable under the same Act.

Some of the charges against Mr. Sylva include conspiring to convert properties and resources amounting to N2 billion belonging to Bayelsa state government between October 2009 and February 2010. He is also being accused of converting the sum of N380million property of the Bayelsa State Government, through the account of one Habibu Sani Maigidia, a Bureau De Change Operator in FinBank Plc.

The former governor is also being accused of inducing Union Bank Plc, with the intent to defraud, to grant an overdraft facility of the sum of N2 billion to the Bayelsa State Government under the pretense of using the amount to augment salaries of the state government

Other charges include the conversion of the sum of N50million of the state government, through the account of one Enson Benmer Limited with First Bank Plc and the sum of N20million through the account of a certain John Daukoru in United Bank for Africa Plc.

Mr Sylva recently lost out in the tussle to get the candidacy of the People’s Democratic Party (PDP) in the just concluded governorship election in the state and has since been at large.