Update: EFCC Releases Former Minister, Agunloye On Bail

Olu Agunloye

A former Minister of Power and Steel, Olu Agunloye has been released by the Economic and Financial Crimes Commission (EFCC), on bail.

Recall that the former minister was arrested on December 13 and detained over alleged official corruption and forgery to the tune of N6bn in connection with the Mambilla Power Project.

But according to The Punch, the former Minister of State for Defence was released by the anti-graft agency around 3.30 p.m. on Wednesday to his lawyer, Adeola Adedipe (SAN).

EFCC sources disclosed that Agunloye would be arraigned in court in January 2024 on charges of official corruption and forgery to the tune of N6bn.

In a chat with the newspaper, the spokesperson for the EFCC, Dele Oyewale, confirmed the ex-munister’s release on Wednesday.

He said: “Yes, you’re right, Mr. Agunloye has been released by the commission.”

Recall that the Agunloye was declared wanted in connection with an alleged N6bn scam involving the contentious Mambilla hydropower project.

He was, however, rearrested by the operatives of the agency on December 13, 2023, after getting an arrest warrant following allegations that Agunloye jumped bail.

Agunloye was a minister under former President Olusegun Obasanjo’s government (1999-2003) and has since been at the centre of the controversy about the Mambilla project.

Agunloye, who was accused by Obasanjo of illegally awarding the project’s contract without the Federal Executive Council’s consent, has since denied the allegation.