The Federal High Court in Abuja has ordered the remand of former Minister of Power and Steel, Olu Agunloye, in the Kuje Correctional Service on charges related to an alleged $6 billion fraud connected to the Mambilla Hydroelectric Power Station. Agunloye, who served as minister between 1999 and 2003 under President Olusegun Obasanjo, was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice J.O. Onwuegbuzie.
The EFCC spokesperson, Dele Oyewale, disclosed in a statement that he faced seven counts bordering on “fraudulent award of contract and official corruption.” One of the charges accuses him of awarding a contract for the “Construction of 3,960mw Mambilla Hydroelectric Power Station” to Sunrise Power and Transmission Company Limited without budgetary provision, approval, and cash backing, thus violating Section 22(4) of the Corrupt Practices and Other Related Offences Act, 2000.
Another count alleges that Agunloye corruptly received N3.6 million from Sunrise Power and Transmission Company Limited and Leno Adesanya for conveying the approval of the government for the power station’s construction, all while serving as the Minister of Power and Steel without the Federal Executive Council’s approval.
During the arraignment, Agunloye pleaded not guilty to the charges. The judge ordered his remand in Kuje Correctional Service until the hearing of his bail application scheduled for January 11. The defence counsel, Adola Adedipe (SAN), confirmed filing a bail application for the ex-minister.
Notably, former President Olusegun Obasanjo, in December, expressed readiness to testify against Agunloye over the disputed Mambila power contract. Obasanjo challenged Agunloye to explain the authority behind awarding the $6 billion contract. The EFCC had declared Agunloye wanted in December 2023, citing allegations of corruption and forgery. Following his arrest on December 13, he was released to his lawyer on December 20, 2023.