News
Ex-minister remanded in Kuje prison over fraud allegations
Pleading not guilty before Judge Donatus Okorowo in Abuja, Agunloye was remanded in Kuje prison until bail conditions are met.
Olu Agunloye, the ex-minister of power and steel, faced charges of fraud brought by the Economic and Financial Crimes Commission (EFCC) concerning the $6 billion Mambilla hydropower contract.
Pleading not guilty before Judge Donatus Okorowo in Abuja, Agunloye was remanded in Kuje prison until bail conditions are met.
The EFCC declared him wanted on December 13 for alleged corruption, and he surrendered on December 14, 2023, according to a source.
The investigation revealed suspicious payments from Sunrise Power and Transmission Ltd to Agunloye’s accounts.
Former President Olusegun Obasanjo questioned Agunloye’s authority to award the $6 billion contract, prompting Agunloye to assert that the government wasn’t obligated to pay under the build, operate, and transfer (BOT) agreement.
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