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EFCC Arraigns Former Power Minister Olu Agunloye Over $6billion Fraud

Ogunloye was arraigned on Wednesday on seven count charges bordering on fraudulent award of contract and official corruption.

Recall: last year that Ogunloye was declared wanted by EFCC over an alleged case of corruption and forgery.

However, the Commission issued a press statement today stating that the ex-minister has been arraigned.

Another count reads: “That you, Olu Agunloye, on or about the 10th of August, 2019 in Abuja, within the jurisdiction of this honourable court, corruptly received the sum of Three Million Six Hundred Thousand Naira (N3,600,000.00) through your Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for having conveyed the “approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station” in favour of SPTCL which you did whilst serving as the Minister of Power and Steel without the approval of the Federal Executive Council contrary to and punishable under Section 8(1)(a) and (b) of the Corrupt Practices and Other Related Offences Act, 2000.”

He had pleaded “not guilty” to all the charges read to him and the prosecution counsel, Abba Muhammed prayed the court for a trial date, asking that the ex-minister be remanded in correctional Centre.

However, the defence counsel, Adola Adedipe, informed the court that he has filed a bail application for the defendant and prayed the court to grant him bail and commit him to the custody of the EFCC.

The judge ruled that the defendant be remanded in Kuje correctional centre and set 11th January 2024 for hearing on the bail application.

First Bank

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