An Abuja Federal High Court has granted bail to former Bayelsa State Governor Timipre Sylva, who was on Tuesday remanded in custody of the Economic and Financial Crimes Commission (EFCC), over money laundering offenses amounting to N4.5 billion.
Justice Adamu Bello granted him bail in the sum of N100 million with one surety in like sum.
The surety must be a responsible citizen resident in Abuja and must own landed property within Abuja worth the bail sum, the title deeds of which should be deposited with the Deputy Chief Registrar (DCR) of the court.
Sylva will also deposit his travel documents, including his international passport and diplomatic passport (if any) to the DCR and will not travel without seeking permission from the court.
The former governor, who is alleged to have defrauded his state of billions of naira, pleaded not guilty to 6 counts of money laundering offenses proffered against him by EFCC.
He is alleged to have conspired with others who are now at large, to convert resources and properties belonging to Bayelsa State worth N2 billion between 2009 and 2010.
He is similarly alleged to have conspired with others who are now at large, to obtain a N2 billion loan from Union Bank for Bayelsa State government, under the pretence of using the money to augment salaries between 2009 and 2010.
He is equally alleged to have conspired with others who are now at large, to convert the sums of N380 million, N50 million and N20 million belonging to Bayelsa State government, through the FinBank account of one Habibu Sani Maigida, a Bureau De Change operator, a First Bank account of Enson Benmer Limited and a UBA account belonging to one John Daukoru.
The case has been adjourned till September 19 for tentative hearing.