Justice Donatus Okorowo of the Federal High Court in Abuja, on Wednesday, ordered the remand of the former Minister of Power and Steel Olu Agunloye to Kuje Correctional Service.
The Informant247 gathered that the Economic and Financial Crimes Commission (EFCC) had arraigned Agunloye over allegations of fraud connected to the $6 billion Mambilla hydropower contract.
Agunloye, while appearing before the judge, pleaded not guilty to the charges presented against him.
However, the judge ordered the embattled former minister to be remanded in prison pending the completion of bail arrangements.
Back story
The Economic and Financial Crimes Commission (EFCC), in September 2023, had alleged tracked dubious payments from Sunrise Power and Transmission Ltd to Agunloye’s bank accounts
Meanwhile, on December 13, the EFCC issued a warrant due to alleged corruption while urging the public to provide any information on his whereabouts to the agency.
Also, former President Olusegun Obasanjo had challenged Agunloye to disclose the authority he had to award a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003.
Agunloye defended his actions by stating that the government wasn’t obligated to pay any amount to Sunrise under the build, operate, and transfer (BOT) agreement, as the project was meant to be fully financed by the newly established company while noting that the declared assets of the company at that time were valued at less than $2,000.