7th June, 2012
Nnamdi Felix / Abuja.
Chief Timipre Sylva, former governor of Bayelsa state was on Thursday granted bail by a Federal High Court sitting in Abuja where he is standing trial for an alleged financial crimes.
The court presided over by Justice Adamu Bello noted that it finds merit in the submissions of the ex governor’s lawyer, Chief Lateef Fagbemi, a senior advocate of Nigeria, and subsequently exercised the court’s discretion in favour of Sylva.
“I am persuaded by the submission of the learned senior advocate as well as the contents of the affidavit in support of the bail application and hereby exercise the discretion of the court in favour of the applicant. He is hereby granted bail in the sum of N100 million and one surety in like sum. The surety must be resident in Abuja and must be an owner of a landed property worth the bail sum the title document of the property must be deposited to the court registrar for verification before the release of the applicant from custody”.
The court also ordered the former governor to deposit his International passport with the court and barred him from traveling outside the country without the leave of the court.
Sylva was arraigned before the court last Tuesday on a 6 counts charge over an alleged financial crime involving the sum of N2 billion loan obtained by his administration from Union Bank Plc for the augmentation of the salaries of the state’s civil servants.
Trial was slated for 19 September.