EFCC traces N1billion Abuja mansions to Timipre Sylva

The EFCC says Timipre Sylva  acquired choice properties in Abuja valued at over N1.01billion
The EFCC says Timipre Sylva acquired choice properties in Abuja valued at over N1.01billion

The Economic and Financial Crimes Commission (EFCC) on Friday said it recorded one of the most significant breakthroughs in its investigation of the monumental looting of Bayelsa State treasury by the former state governor, Timipre Sylva.

The commission in a statement by its spokesman, Wilson Uwujaren said a team of investigators from the anti-graft agency raked up more startling discoveries of some choice properties located in prime locations in major cities across the country, particularly the Federal Capital Territory (FCT), Abuja.

According to Mr. Uwujaren, the team uncovered a network of fronts through which the former governor acquired the choice properties, with two located in Abuja valued at over N1.01billion.

PREMIUM TIMES gathered that one of the properties linked to the former governor is a massive duplex valued at over N310 million situated at Cachez Estate, Mpape, Abuja, while the other is a mansion valued at over N700 million located off Ademola Adetokunbo Crescent in high brow Wuse 2 District in the FCT.

The Wuse 2 mansion was said to have been acquired in the name of Marlin Maritime Limited, one of the network of companies allegedly owned by Mr. Sylva and used as fronts to acquire properties with the stolen state wealth.

The managing Director of the company, Gbenga Balogun, who helped the former governor to acquire the properties, is currently on the run. But the commission says its operatives, who have been following the money trail, are closing in on him.

A number of accounts in an unnamed bank in the FCT were also traced to another front of the governor, who is currently standing trial before a Federal High Court in Abuja on a six-count charge bordering on fraud and money laundering.

The front (names withheld), who is currently also on the run, reportedly opened the accounts in his name, but using a passport photographs belonging to someone else.

 

 

 

 

 

  • dele

    Can anybody help me out by giving me the name or names of the both the present and past governors of the south south geo political region of Nigeria who has not being linked to one form of corruption or another.Since the advent of the present democracy in Nigeria,this geo political region has got more from the federation account than any other zone.

    • Nagoma

      Bravo! Dele, It is really so baffling that the South-South contributes more high profile corrupt politicians than other geo-political zones in Nigeria in recent times. They cry loud when it comes to the agitation for oil money and politics of resources control. They collect the most lucrative share of the Nigerian oil wealth, yet they shamelessly deprive their people of development through massive looting. More baffling is the fact that they instigate their people to accuse other Nigerians especially those in the less corrupt Northern geo-political zones of depriving them development by being parasites. Its amazing that sentiment is blocking the vision of many of them from seeing this fact. .

    • Nagoma

      Bravo! Dele, It is really so baffling that the South-South contributes more high profile corrupt politicians than other geo-political zones in Nigeria in recent times. They cry loud when it comes to the agitation for oil money and politics of resources control. They collect the most lucrative share of the Nigerian oil wealth, yet they shamelessly deprive their people of development through massive looting. More baffling is the fact that they instigate their people to accuse other Nigerians especially those in the less corrupt Northern geo-political zones of depriving them development by being parasites. Its amazing that sentiment is blocking the vision of many of them from seeing this fact. .