Ex-minister Olu Agunloye arraigned, remanded in Kuje prison

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The Economic and Financial Crimes Commission (EFCC) has arraigned Olu Agunloye, former minister of power and steel, over allegations of fraud.

Agunloye was brought before the federal high court in Abuja on Wednesday where he pleaded not guilty to the charges read against him.

The former minister has been remanded in Kuje prison pending when bail would be granted.


TheNewsMatrics reports that Agunloye ran into trouble after the EFCC traced suspicious payments made to his bank account by Sunrise Power Limited, which was awarded a contract to build the $6bn Mambilla Hydropower plant in 2003.

Former president Olusegun Obasanjo had challenged Agunloye, who awarded the contract in the final days of the administration, to show evidence of approval by the Federal Executive Council.

Sunrise Power, owned by businessman Leno Adesanya, which was said to have assets valued at $2,000 at the time the contract was awarded, had sued the federal government claiming millions of dollars in damages for breach of contract.

Agunloyr had claimed that the contract would not have cost government a dime as it was to be executed on build, operate and transfer (BOT) basis.