• Court issues arrest warrant for ex-oil minister Sylva over $14.86M fraud
• EFCC places Sylva on wanted list amid probe into failed refinery project
• Case highlights persistent corruption in Nigeria’s oil sector, key revenue source
  

A Federal High Court in Lagos has issued a warrant for the arrest of Timipre Sylva, former Minister of State for Petroleum Resources (2019-2023) and ex-governor of Bayelsa State. Sylva is accused of conspiracy and the fraudulent diversion of $14.86 million, funds that the Nigerian Content Development and Monitoring Board (NCDMB), a sector regulator, had invested in a modular refinery project in the Niger Delta that was never completed.

The Economic and Financial Crimes Commission (EFCC) has placed Sylva on its wanted list, appealing to the public for information that could lead to his arrest. The move comes just weeks after the House of Representatives opened an inquiry into the alleged mismanagement of $35 million tied to the same project.

The case underscores persistent corruption in Nigeria’s oil industry, the country’s main source of public revenue. For years, the sector has been plagued by embezzlement and money laundering, causing heavy financial losses for the state.

One of the most high-profile examples remains that of Diezani Alison-Madueke, who served as Oil Minister under President Goodluck Jonathan (2010-2015). In January 2025, the U.S. and Nigeria finalized a deal to repatriate $52.88 million in assets seized from her. The funds stemmed from bribes paid between 2011 and 2015 by investors seeking oil contracts.

The proceeds were allegedly laundered through luxury properties in the United States, including yachts and apartments in New York and California, before being seized by the U.S. Justice Department in 2023. Of the recovered funds, $50 million will finance a renewable energy electrification project in Nigeria under World Bank supervision, while the rest will support counterterrorism and judicial capacity-building programs.

This restitution follows earlier recoveries, including $23 million returned in 2022 and $311.8 million in 2019, both embezzled under former ruler Sani Abacha in the 1990s. The Sylva case serves as another reminder of the scale of corruption still facing Nigeria’s oil sector and the ongoing effort to strengthen accountability.

Olivier de Souza