Friday, October 30, 2026

Alleged $6 Billion Fraud: EFCC re-arraigns ex-power minister, Olu Agunloye

The former minister has consistently maintained his innocence of the charge preferred against him by the anti-graft agency.

• September 18, 2025
Olu Agunloye
Olu Agunloye

The Economic and Financial Crimes Commission on Thursday re-arraigned a former Minister of Power and Steel, Dr Olu Agunloye, for alleged infractions in the award of contract for Mambila Hydroelectric Power Station.

The EFCC had dragged Mr Agunloye, before Justice Jude Onwuegbuzie of Federal Capital Territory (FCT), Apo, Abuja, on amended seven count- charge, bordering on disobedient to presidential directive, forgery and receiving gratification.

At the resumed hearing in the matter, Prosecution counsel, M. K. Hussain, holding the brief of Abba Muhammed, SAN, informed the court that he was ready for the cross examination of PW3.

He also stated that, the prosecution had filed its second amended charge against the defendant.

He urged the court to allow the defendant to take his plea on the second amended charge.

But Counsel for Agunloye, Adeola Adedipe, SAN, did not object to his client taking plea to the second amended charge.

The amended seven count charge was subsequently read to the defendant and Mr Agunloye, however, pleaded not guilty to the amended charge.

In the amended charge marked FCT/HC/CR/617/2023, EFCC alleged that Mr Agunloye on May 22, 2003, knowingly disobeyed the directive of the President made at the Federal Executive Council meeting of May 21, 2023.

He claimed that the directive was in pursuant to the President’s powers under Section 5(1)(a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The prosecution further alleged that the defendant went ahead and signed a letter addressed to Sunrise Power and Transmission Company Limited (SPTCL), conveying the “approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambila Hydroelectric Power Station.”

EFCC also alleged that on May 22, 2003, Mr Agunloye conspired with Leno Adesanya of SPTCL now at large to do an illegal act to wit; forgery of a letter titled, “Construction of 3,960 megawatts Mambila Hydroelectric Power Station on a build, operate and transfer basis.”

The commission among others alleged that the former minister on different dates in 2019 received various sums of money, totalling N5.212 million from SPTCL and Leno Adesanya, through Jide Abiodun Sotirin through Mr Agunloye’s Guaranty Trust Bank (GTB) account, for conveying the Federal Government’s approval for the construction of the Mambila Hydroelectric Power Station.

The former minister has consistently maintained his innocence of the charge preferred against him by the anti-graft agency.

After his not-guilty plea, Mr Hussain informed the court that the PW3, Umar Hussein Babangida, was absent in court.

He, therefore, pleaded with the court to vacate the earlier dates of September 22 and 25 fixed for hearing the case, adding that the former dates had been communicated to the defence team.

Based on parties’ agreement, Justice Onwuegbuzie consequently adjourned the matter until October 9 for cross examination of the PW3.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Nigerian Bar Association

States

Independence: NBA urges Nigerians to expect better future

The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

police

States

Police nab 14 suspects over attack on APC convoy in Katsina

Mr Sadiq-Aliyu said the incident occurred at about 11:00 a.m. on October 28.

President Bola Tinubu in Saudi Arabia

NationWide

Tinubu arrives in Saudi Arabia for Umrah

Mr Tinubu is expected to return to Nigeria next week.

Kashim Shettima

Heading 3

Shettima reaffirms Tinubu’s commitment to welfare of community health workers

Mr Shettima noted that the services of health workers sustained primary care, universal coverage and health sovereignty.

Warredi Enisuoh at the event

NationWide

Tantita acquires more drones, AI systems to curb pipeline vandalism, crude oil theft in Nigeria

Mr Enisuoh lamented the alarming rate of oil theft, pipeline vandalism and other illegal maritime activities

An overloaded bus used to illustrate the story

Heading 5

FRSC threatens punishment for overloading, mixed loading

Mr Mohammed said the corps would continue to enforce applicable regulations.

INEC Photo (Credit: Punch Newspapers)

Heading 5

Institute urges INEC to address logistics gaps ahead of 2027 elections

Mr Emeje said Nigeria was underutilising the courier, logistics, transport and management sub-sector.