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The Abuja Federal High Court has ordered the remand of former Minister of Power and Steel, Olu Agunloye, in the Kuje Correctional Centre, Abuja. The Economic and Financial Crimes Commission (EFCC) brought charges against Agunloye, accusing him of involvement in fraudulent activities related to the Mambilla Power Project.
Appearing before the Federal High Court in Abuja on Wednesday, Agunloye pleaded not guilty to the charges. However, the presiding judge deemed it necessary to order his remand in the correctional centre pending the determination of his bail application.
The EFCC had declared Agunloye wanted in connection with a $6 billion power scheme associated with the Mambilla hydropower project. The former minister, who served under President Olusegun Obasanjo's government from 1999 to 2003, has been implicated in the controversy surrounding the Mambilla power project. President Obasanjo accused him of illegally awarding the scheme with the approval of the Federal Executive Council.
Agunloye vehemently denies any wrongdoing in the project, dismissing the allegations as distortions of information by President Obasanjo. In a statement issued on December 22, 2023, through his friend, Oluwafisan Bankale, Agunloye asserted that all individuals involved in the controversy must be publicly identified and held accountable.
The former minister expressed confidence that the charges of fraud and forgery against him would not hold, emphasizing his innocence. In his statement, he stated, "My spirits are high, and have been high all along. I am innocent of the charges brought against me by the EFCC. I am innocent of the International Arbitration on the Mambilla Project in France." The unfolding legal proceedings will shed light on the complexities surrounding the Mambilla Power Project and Agunloye's alleged involvement in the reported fraud.
