$6billion fraud charge: EFCC arraigns ex Power, Steel Minister, Olu Agunloye

By Vivian Okejeme, Abuja

The Economic and Financial Crimes Commission(EFCC), has arraigned a former Minister of Power and Steel Development, Olu Agunloye, before Justice J.O Onwuegbuzie of the Federal Capital Territory, FCT, High Court, Apo, Abuja.
The former minister was arraigned on seven-count $6billion fraud charges, bordering on fraudulent award of contract and official corruption.
However, he pleaded not guilty to all the charges when they were read to them.
Sequel to not guilty plea, the defence counsel Adola Adedipe, SAN, informed the court that he has filed a bail application for the defendant as he prayed the court to grant him bail and commit him to the custody of the EFCC.
Responding, the prosecution counsel, Abba Muhammed prayed the court for a trial date and to remand the defendant in a Correctional Centre.
In a bench ruling, Justice Onwuegbuzie held that the defendant be remanded in Kuje Correctional Centre.
The court, therefore, adjourned till January 11, 2024, for hearing on the bail application.
One of the count reads: “That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about the 22nd of May, 2003 in Abuja, within the jurisdiction of this honourable court awarded a contract, titled “Construction of 3,960mw Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis” to Sunrise Power and Transmission Company Limited without any budgetary provision, approval and cash backing and you thereby committed an offence contrary to and punishable under Section 22(4) of the Corrupt Practices and other Related Offences Act, 2000.”
Another count reads: “That you, Olu Agunloye, on or about the 10th of August, 2019 in Abuja, within the jurisdiction of this honourable court, corruptly received the sum of Three Million Six Hundred Thousand Naira (N3,600,000.00) through your Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for having conveyed the “approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station” in favour of SPTCL which you did whilst serving as the Minister of Power and Steel without the approval of the Federal Executive Council contrary to and punishable under Section 8(1)(a) and (b) of the Corrupt Practices and Other Related Offences Act, 2000.”