The Bayelsa State government has given an insight into the alleged $40 million scam, involving the former administration of Chief Timipre Sylva and Bayelsa Oil Company, describing the allegation as misleading, baseless and a mere political gimmick by the opposition to discredit Sylva.

The report published in some national dailies (not Daily Sun) said the money was provided for in the 2008 Appropriation Budget to be given to the Bayelsa Oil Company.
But the Commissioner for Finance, Dr. Sylva Opuala- Charles, while debunking the allegation in an interview with journalists, explained that the approval was only a guarantee by the government for banks to finance the Bayelsa Oil Company.

He maintained that it was not an expenditure undertaken by government and was not provided for in the 2008 budget, stressing that it could, therefore, not have been referred to the House of Assembly.
Opuala Charles noted that it was the philosophy of the administration of former governor Timipre Sylva to empower and provide opportunities for Bayelsans to participate in the highly lucrative oil and gas industry and it decided to fine-tune the frame-work, establishing the company preparatory to the take-off the government industrialization.

According to him, to do otherwise will have jeopardize the windows of opportunities for Bayelsans to participate in an industry they have long been denied, despite the enormous contributions of the state to national development.

He lamented that Sylva's intention to fast-track development in the state would be sacrifice on the altar of parochialism driven by political rivalry and bitterness.

Opuala Charles said the endorsement of Sylva by the National Working Committee, led by the Chairman of the Peoples Democratic Party (PDP), Prince Vincent Ogbulafor, which was reinforced in elders’ and stakeholders’ meeting, brokered by Vice- President Goodluck Jonathan and presided over by Ijaw National Congress (INC), Prof. Kimse Okoko, was a clear testimony that he did well as governor and therefore deserves another chance.

Listing the achievements of Sylva before his election was nullified by the Court of Appeal, Opuala- Charles urged Bayelsans to support the re-election bid of Sylva, noting that he remains committed, focused and passionate about the development of the state.