A former Minister of Power and Steel Development, Mr. Olu Agunloye, pleaded not guilty to seven amended charges brought against him by the Economic and Financial Crimes Commission on Monday.
Agunloye, who served as a Minister between 1999 and 2003 under former President Olusegun Obasanjo, was re-arraigned before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court sitting in Apo. The charges stem from his alleged involvement in a $6 billion fraud related to the Mambilla Hydroelectric Power Station project.
The EFCC accused Agunloye of illegally awarding a contract for the construction of the 3,960-megawatt Mambilla Hydroelectric Power Station on a Build, Operate, and Transfer basis to Sunrise Power and Transmission Company Limited. The anti-graft agency alleged that the contract was awarded without budgetary provision, approval, or cash backing.
Additionally, Agunloye was accused of corruptly receiving a kickback of N3.6 million from the company to which he awarded the contract. The EFCC further alleged that the former Minister received about N5.212 million from SPTCL and Leno Adesanya, the promoter of Sunrise Power, through one Jide Abiodun Sotinrin.
Agunloye, who also served as a Minister of State for Defence, pleaded not guilty to the charges, which included forgery, fraudulent award of contract, and corruption.
Justice Onwuegbuzie allowed Agunloye to retain the N50 million bail previously granted to him on January 11, 2024, when he was first arraigned by the EFCC.
Following the re-arraignment, the prosecution presented its second witness, Mr. Adewale Agunbiade, a former bank compliance officer. During cross-examination by Agunloye’s counsel, Mr. Adeola Adedipe, SAN, Agunbiade revealed that he is no longer a staff member of the bank in question and does not have permission from his current employer to continue testifying in the case.
Agunbiade also informed the court that the EFCC did not issue him a witness summons to testify. He stated that when he informed EFCC operatives of his current employment status, they insisted that he was the one who prepared the documents related to the case.
When asked if he presented his identification card to the court to confirm his current employment with another bank, the witness answered in the negative.
Justice Onwuegbuzie adjourned further hearing in the matter until February 24.
