Alleged Fraud: EFCC Declares Ex-Power Minister Agunloye Wanted

A former minister of power and steel, Olu Agunloye, has been declared wanted by the Economic and Financial Crimes Commission (EFCC).

He was declared wanted over alleged $6 billion fraud.

Agunloye served under former President Olusegun Obasanjo between 1999 and 2003.

The anti-graft agency made this known through a notification posted on its Facebook account, appealing that anyone with information about his whereabouts should report to the agency or the police.

The post by the EFCC reads: “Dr. U Agunloye is wanted by the EFCC. You know his whereabout? Please don’t hesitate to inform the EFCC or the nearest Police Station.”

DAILY POST reports that the anti-graft agency had invited Agunloye for questioning over his role in the $6 billion Mambila hydropower contract but he did not honour their invitation.

While Agunloye was serving under the ex-president, the Mambilla power project was approved but allegedly without the approval of the Federal Executive Council (FEC).

In an interview, Obasanjo insisted that he was not in the know of who awarded the contract.

Obasanjo challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise Power and Transmission Ltd in respect of the project in 2003.

In his response, Agunloye said the nature of the initial contract for the Mambilla Power Project was awarded as a build-operate-and-transfer contract in May 2003 under his watch.

He said the government was not obliged to pay a kobo to Sunrise under the build, operate and transfer (BOT) agreement as it was to be fully funded by the newly registered company, whose declared assets were worth less than $2,000 at the time.