The former Minister of Power and Steel, Olu Agunloye, has been remanded in prison on charges of fraud.
On Wednesday, the Economic and Financial Crimes Commission (EFCC) brought the ex-minister before the Federal High Court in Abuja. Agunloye, currently under investigation for the $6 billion Mabillla Hydropower contract, pleaded not guilty to the charges presented before Justice Donathus Okorowo.
According to investigative reports from Headlinenews.news, the ex-minister is now remanded in Kuje prison, awaiting the fulfillment of bail conditions.
It’s worth noting that the EFCC had previously declared Agunloye wanted in connection with his role in the $6 billion Mambilla hydropower contract. He was apprehended by the EFCC on December 19, 2023.
Former President Obasanjo had accused Agunloye of mismanaging the power project during his tenure from 1999 to 2003, alleging a failure to provide updates on the project’s status. Furthermore, Obasanjo accused Agunloye of awarding the contract to Sunrise Power and Transmission Ltd without Federal Executive Council (FEC) approval.he
Sunrise is currently engaged in arbitration against Nigeria, seeking billions of dollars in compensation for the failed contract. However, Agunloye vehemently denied any wrongdoing in the project, asserting that Obasanjo was distorting information against him.
