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The Economic and Financial Crimes Commission, EFCC, on Thursday, September 18, 2025 re-arraigned the former Minister of Power and Steel, Olu Agunloye before Justice Jude Onwuegbuzie of the Federal High Court, in Apo, Abuja.
He was re-arraigned on amended seven-count charge, bordering on official corruption and fraudulent award of Mambilla Power Project contract to the tune of $6billion (Six Billion US Dollars).
Count one reads: “That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about the 2nd of May, 2003 in Abuja within the jurisdiction of this Honorable Court, knowingly disobeyed the directive of the President, made in the Federal Executive Council meeting of 21st May 2003, directed at you pursuant to the Presidents’ powers under Section 5(1) (a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) when you signed a letter addressed to Sunrise Power and Transmission Company Limited, conveying the approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station and you thereby committed an offence contrary to and punishable under Section 123 of the Penal Code Law.”
Count Four reads: “That you, Olu Agunloye whilst being the Minister of Power and Steel and Leno Adesanya (at large) of Sunrise [Power and Transmission Company Limited, on or about the 22nd of May, 2003 in Abuja within the jurisdiction of this Honourable Court, with intent to cause the Federal Republic of Nigeria (FRN) to enter into a contract with Sunrise Power and Transmission Company Limited (SPTCL) used as genuine, a false document titled, “Construction of 3,960mw Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis,” dated the 22nd of May, 2003, and thereby committed an offence contrary to Section 366 and punishable under Section 364 of the Penal Code.”
He pleaded “not guilty” to all the charges, following which EFCC counsel, M.K Hussein asked the court for a date for the continuation of the testimony of the third prosecuting witness.
Justice Onwuegbuzie adjourned the matter till October 9, 2025 for continuation of trial.
The lingering trial of the former Minister featured a witness in June, the third prosecution witness, PW3, Umar Babangida, insisting before Justice J.O. Onwuegbuzie of the Federal Capital Territory High Court, Apo, that former President Olusegun Obasanjo and the Federal Executive Council, FEC, did not grant any contract approval to Sunrise Power and Transmission Company Limited.
Sunrise Power and Transmission Company Limited lifted the Mambila Power Project contract.
“The former President, Chief Olusegun Obasanjo who presided over the FEC meeting of 23 May, 2003, wrote to the Attorney General of the Federation and Minister of Justice on 27 November, 2023 where he provided details of what happened at the FEC meeting and confirmed that he did not give approval to the then Minister of Power and Steel to award the contract to Sunrise Power and Transmission Company Limited,” said the witness.
”He thereafter wrote to the Federal Ministry of Justice, requesting for the Certified True Copy, CTC of the letter by Chief Obasanjo and received response of the said letter.
“We reviewed the CTC of the document where the former President stated that he received a memorandum from the former Minister of Power, Olu Agunloye and he minuted on the document and directed the Minister of Power and Steel to submit the memo to FEC for deliberation, but he did not give approval to the minister for the award of the contract and neither was approval given at FEC on 21 May, 2003.”
The witness further said on 7th February, 2024, the investigating team met with former President where he further informed the team that he did not give approval to the then Minister of Power to award the contract to Sunrise Power and Transmission Company Limited which the former President put in writing and signed.
He said, “The former President told us that he did not give approval to the then Minister of Power and Steel, that the minister was directed by the FEC meeting on 21 May, 2003 to withdraw his memorandum; that the letter issued on 22 May, 2003, by the then minister, awarding the contract to Sunrise Power and Transmission Company Limited was not on behalf of the Federal Government of Nigeria.”
The witness further informed the court that in spite of a presidential directive to the defendant to withdraw and nullify the Memorandum of Understanding, MoU he has formulated with Sunrise Power and Transmission Company Limited and open up the space for more competitive bidding for the Mambilla Hydro-power Project, he went ahead and yielded the contract to Sunrise Power and Transmission Company Limited, 24 hours after the directive.
“The defendant who was the then Minister of Power and Steel was directed to withdraw his memorandum and invite more investors for the Mambilla Hydro Power Project but 24 hours after, on 22 May, 2003, he awarded the contract to Sunrise Power and Transmission Company Limited without approval or authorization contrary to the directive of the President and the Federal Executive Council, FEC,” he said.
Dr Agunloye is facing prosecution by the Economic and Financial Crimes Commission, bordering on fraudulent award of the contract and official corruption to the tune of $6billion (Six Billion Dollars).