THE Economic and Financial Crimes Commission (EFCC) has declared former Minister of State for Petroleum Resources and ex-Governor of Bayelsa State, Timipre Sylva, wanted over alleged involvement in a $14.8 million fraud.
According to a statement by the Commission on Monday, November 10, Sylva is wanted in connection with a case of conspiracy and dishonest conversion of $14,859,257.
The funds, according to the anti-graft agency, were injected by the Nigerian Content Development and Monitoring Board (NCDMB) into Atlantic International Refinery and Petrochemical Limited for the construction of a refinery.
The EFCC said it secured a warrant for his arrest on November 6, 2025, at the Federal High Court sitting in Lagos.
The warrant, said to have been issued by Justice D.I. Dipeolu, directed that “an order is made issuing a warrant to the Applicant or any Officer of the Commission, Police or any law enforcement officer for the arrest of the Respondent for the purpose of bringing him before the Commission to answer to the criminal offence he is alleged to have committed.”
The anti-graft agency urged anyone with useful information about Sylva’s whereabouts to contact any of its zonal offices, the nearest police station, or other security agencies.
This development came month after the House of Representatives launched an investigation into the alleged mismanagement of $35 million invested by the NCDMB in the same Atlantic International Refinery project in Bayelsa State.
The refinery project, meant to boost local refining capacity, has been stalled for years despite the huge financial commitment.
While raising the motion Billy Osawaru recalled that in 2020, the Nigerian Content Development and Monitoring Board (NCDMB) invested $35 million, in the establishment of Atlantic International Refinery and Petrochemical Limited.
The move, he said, was part of efforts to enhance local refining capacity and curb Nigeria’s heavy reliance on imported fuel.
He explained that the investment aimed to promote the development of modular refineries across the Niger Delta, in line with the government’s policy at the time to broaden the nation’s revenue base, ease pressure on foreign exchange, and cut down public debt through increased domestic refining.
Sylva, who served as Bayelsa governor from 2008 to 2012 and as Minister of State for Petroleum Resources from 2019 to 2023, is yet to respond to the EFCC’s declaration.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M