WorldStage– An Economic and Financial Crimes Commission (EFCC) witness has told the Federal High Court in Abuja that former Minister of State for Petroleum, Timipre Sylva, verbally instructed the payment of an outstanding $13.45 million into a project account on January 29, 2021.
The witness, Mr. Isaac Yalah, a former Director of the Nigerian Content Development and Monitoring Board (NCDMB), testified as the fourth prosecution witness (PW4) in the alleged $35 million fraud trial of oil magnate Dr. Akintoye Akindele.
This final payment, following an initial $21.55 million, completed the $35 million investment by NCDMB in Atlantic International Refinery and Petrochemical Ltd for a 40% equity stake in a modular refinery project.
Yalah testified that the project is still abandoned. He also explained that Akindele’s refinery proposal was approved after passing NCDMB’s “decision gates,” and he and the then Executive Secretary were nominated as NCDMB representatives and co-signatories to the project account.
Sylva is also being sought by the EFCC regarding the alleged fraud and has requested a new date to appear, citing a medical condition.
He denies the allegations, calling them a political witch-hunt.
