The Economic and Financial Crimes Commission (EFCC) has declared former Minister of State for Petroleum Resources, Timipre Sylva, wanted for alleged conspiracy and the dishonest conversion of $14.8 million. The declaration comes amid a separate but potentially linked military investigation into an alleged coup plot, where Sylva has been named as a suspected financier.
In a public notice signed by its Head of Media and Publicity, Dele Oyewale, the EFCC stated that Sylva is sought in connection with funds allegedly injected by the Nigerian Content Development and Monitoring Board (NCDMB) into Atlantic International Refinery and Petrochemical Limited for a refinery project. The commission alleges the money was unlawfully diverted for personal use.
The arrest warrant for the 61-year-old former Bayelsa State governor was issued by the Lagos State High Court on November 6, 2025. The EFCC has urged the public to provide information on his whereabouts.
This financial case has taken on a significant political and security dimension. Recent investigations into a rumoured coup plot against President Bola Ahmed Tinubu have allegedly uncovered financial trails leading to companies linked to Sylva. Sources indicate that funds originating from the Niger Delta Development Commission (NDDC), which are also under scrutiny by anti-graft agencies, were purportedly used to sponsor the alleged plot.
While the EFCC’s declaration focuses on the $14.8 million refinery case, security sources confirm that the financial probe into Sylva now encompasses these grave security allegations. This follows a recent raid on Sylva’s Abuja residence by a special military team, which was acting on intelligence linking him to secret meetings with detained officers. During the operation, his brother was arrested.
Sylva, who was reportedly abroad at the time, has firmly denied any involvement in a coup, labelling the allegations as politically motivated. The Defence Headquarters has also officially denied rumours of a coup. However, the timing of the EFCC’s warrant has intensified speculation, with sources close to the presidency confirming that the federal government is closely monitoring the situation, concerned about the nexus between public fund misuse and threats to national stability.
As of press time, Sylva has not issued a statement regarding the EFCC’s declaration, and efforts to reach his media aides were unsuccessful. The EFCC has reaffirmed its commitment to pursuing accountability and recovering all allegedly misappropriated public funds.
Samuel Dayo creates high-quality content that resonates with readers. His work spans governance, culture, business, and tech.
