Former Power Minister, Olu Agunloye, Re-Arraigned Over Alleged N5.2 Million Fraud in Mambilla Hydropower Project
The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Minister of Power, Dr. Olu Agunloye, on a seven-count amended charge before the Federal Capital Territory (FCT) High Court in Apo.
Agunloye, who is facing allegations of forgery, disobedience of a presidential order, and corruption related to the 3,960MW Mambilla Hydroelectric Power Project in Taraba State, pleaded not guilty to the charges.
Allegations Against Agunloye
According to the prosecution, Agunloye, while serving as Minister of Power, allegedly received N5.212 million from Sunrise Power and Transmission Company Limited (SPTCL) and its chairman, Leno Adesanya, through one Jide Abiodun Sotinrin.
The EFCC claims the payment was made to convey the Federal Government’s approval for the construction of the Mambilla Power Project to SPTCL, in violation of regulations.
Key Testimony from EFCC Witness
During Monday’s hearing, the second prosecution witness (PW2), Adewale Agunbiade, a Compliance Officer at Jaiz Bank Plc (formerly with GTBank), testified.
- Agunbiade stated that he had no personal relationship with Agunloye and was only invited by the EFCC in May 2023 to provide a statement on financial transactions related to the case.
- He confirmed that Jide Abiodun Sotinrin transferred money into Agunloye’s account on:
- August 10, 2019
- October 22, 2019
- November 13, 2019
- He noted that these transfers were individual transactions between customers of GTBank.
- The transfer of N3.6 million, N1.12 million, and N500,000 to Agunloye did not contain references to Sunrise Power and Transmission Limited or Leno Adesanya.
Court Adjournment
Following the testimony, Justice Jude Onwugbuese adjourned the case for further hearing on February 24, 2025.
What’s Next?
- The EFCC is expected to present more evidence linking Agunloye to alleged fraudulent transactions.
- The defense will likely argue that the transactions were personal and not linked to Sunrise Power or any corrupt dealings.
- The outcome of this case could have major implications for the long-delayed Mambilla Hydropower Project, a critical component of Nigeria’s energy sector.
With high-profile corruption cases under increased scrutiny, all eyes will be on the court proceedings as the EFCC pursues justice in one of Nigeria’s most significant infrastructure controversies.
