EFCC charged Mr Agunloye with seven counts bordering on forgery, disobedience of presidential order, and corruption.
Mr Obasanjo said if the government and the private sector could employ restive youths, fewer people would be involved in crimes.
EFCC has asserted that it has powers based on judicial precedents to prosecute former Minister Olu Agunloye over alleged $6 billion Mambilla hydroelectric power plant.
At the height of the Zimbabwe economic conundrum, a dollar was exchanged for ZWD2.6 trillion.
He said that the youths must stand firmly against conflicts in any part of Africa.
Mr Agunloye alleged that the deliberate act of the EFCC was orchestrated to project him negatively in the international community.
The defendant, however, pleaded not guilty to the charge preferred against him.
He expressed concerns about infrastructural deficits, particularly in transportation.
“Nigerians are angry, traders are angry, why is kidnapping on the increase?” he added.
Mr Agunloye was arraigned on Wednesday.
