The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Minister of Power and Steel Development, Olu Agunloye, on seven revised charges.
This development follows the amendment of the original allegations, which were initially presented on January 10, 2024.
The updated charges, which centre on fraudulent contract awards and official corruption, were formally brought before Justice J.O. Onwuegbuzie at the High Court in Apo, Abuja, within the Federal Capital Territory.
Count one read “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 Måmbillå Hydroelectric Power Station on 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.
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Count two 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 knowingly disobeyed the directive of the President made at the Federal Executive Council meeting of the 21 st May, 2003 directed at you pursuant to the President’s powers under Section 5(1)(a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) when you signed a letter addressed to Sunrise Power and Transmission Company Limited conveying the “approval of the Government of the Federal Republic of Nigeria for the construction of the 3, 960 megawatts Mambilla Hydroelectric Power Station” and you thereby committed an offence contrary to and punishable under Section 123 of the Penal Code Law.
Count four reads “That you, Olu Agunloye (former Minister of Power and Steel) and Leno Adesanya (at large) of Sunrise Power and Transmission Company Limited, on or about the 22nd of May, 2003 in Abuja within the jurisdiction of this Honourable Court, with intent to cause the Federal Republic of Nigeria (FRN) to enter into a contract with Sunrise Power and Transmission Company Limited (SPTCL) made a false document titled “Construction of 3,960MW Måmbillå Hydroelectric Power Station on Build, Operate Transfer Basisand dated the 22nd of May, 2003 and thereby committed forgery contrary to and punishable under Sections 363 and 364 of the Penal Code.
Agunloye pleaded not guilty to the charges as they were read to him.
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During the trial, Adewale Agunbiade—designated as PW2 and a Compliance Officer who previously worked with Guaranty Trust Bank and is now with Jaiz Bank Plc—was cross-examined by defence counsel Adeola Adedipe.
The trial was subsequently adjourned to February 24, 2025, for further proceedings.
