The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Minister of Power and Steel Development, Olu Agunloye, on seven amended charges related to fraudulent contract awards and official corruption. The case was brought before Justice J.O. Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja, on Monday, February 3, 2024.
The re-arraignment follows amendments to the initial charges filed on January 10, 2024. The EFCC alleges that Agunloye, in May 2003, awarded a contract for the construction of the 3,960MW Mambilla Hydroelectric Power Station without budgetary approval, violating the Corrupt Practices and Other Related Offences Act, 2000.
Another charge accuses Agunloye of knowingly disobeying a presidential directive by signing a letter approving the project, an act deemed punishable under the Penal Code. The prosecution further alleges that Agunloye and Leno Adesanya—who remains at large—committed forgery by presenting a false contract document to secure the deal.
Agunloye pleaded not guilty to all charges. During the proceedings, a prosecution witness, Adewale Agunbiade—a compliance officer formerly with Guaranty Trust Bank (GTB) and now with Jaiz Bank Plc—was cross-examined by defense counsel Adeola Adedipe, SAN.
The court adjourned the trial to February 24, 2025, for continuation.
