Daniel Otera
The Economic and Financial Crimes Commission has secured a Federal High Court warrant to arrest former Petroleum Resources Minister, Timipre Sylva, over allegations of conspiracy and dishonest conversion of $14.8 million belonging to the Nigerian Content Development and Monitoring Board.
The anti-graft agency said the funds formed part of an investment by the NCDMB into Atlantic International Refinery and Petrochemical Limited for refinery construction but were allegedly diverted.
According to a statement by Dele Oyewale, Head of Media and Publicity at the EFCC, Justice D.I. Dipeolu of the Federal High Court in Lagos issued the arrest warrant on November 6, 2025, authorising the Commission or any law enforcement officer to apprehend the former Bayelsa State governor.
“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 court order stated.
The EFCC said the alleged offence centres on conspiracy and dishonest conversion of funds designated for establishing a refinery intended to strengthen Nigeria’s local content and petroleum value chain development.
Read Also: EFCC Witness Links Widespread Hardship to Emefiele’s Naira Redesign
The Commission has appealed to Nigerians to assist law enforcement agencies by providing credible information that could facilitate Sylva’s arrest.
“The Commission also enjoins anyone with useful information on his whereabouts to contact any of its Zonal Directorates across the country or the nearest Police Station and other security agencies,” Oyewale said.
Sylva served as Minister of State for Petroleum Resources under former President Muhammadu Buhari’s administration and previously governed Bayelsa State. The NCDMB, established under the Nigerian Oil and Gas Industry Content Development Act 2010, manages interventions and investments aimed at boosting indigenous participation in Nigeria’s oil and gas sector.
The alleged diversion of the $14.8 million investment represents a setback to efforts at developing local refining capacity, which remains a critical challenge for Nigeria despite being Africa’s largest crude oil producer.