Bayelsa Ex-Governor arrested for N2 Billion fraud, granted bail

After spending two nights in a cell of the Economic and Financial Crimes Commission (EFCC,) former Bayelsa State governor, Timipre Sylva, was granted bail on Thursday in the sum of N100 million.

Mr. Sylva was remanded to EFCC custody Tuesday after he pleaded not guilty to the charges of fraud and embezzlement of over N2bn funds belonging to Bayelsa State.

Adamu Bello, the presiding judge,in granting the bail asked the former governor to produce a surety in like sum.Mr. Bello said the surety must be a responsible Nigerian citizen resident in Abuja, and must have a property valued at not less that N100m.Mr. Sylva was also directed by the court not to travel without its permission.The judge thereafter adjourned the case to September 19, 2012 for continuation of trial.