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EFCC Releases Agunloye on Bail

December 21, 2023 • 2 min read

The Economic and Financial Crimes Commission has released a former minister of Power and Steel, and former minister of state for Defence, Olu Agunloye.

The former minister was earlier arrested and detained over alleged official corruption and forgery to the tune of N6bn in connection with the Mambilla Power Project.

The PUNCH exclusively reports that the anti-graft agency released Agunloye to a Senior Advocate of Nigeria, Adeola Adedipe, around 3.30 p.m. on Wednesday.

When contacted over the development, the spokesperson for the EFCC, Dele Oyewale, confirmed the ex-munister’s release on Wednesday.

“Yes, you’re right, Mr. Agunloye has been released by the commission,” Oyewale confirmed.

Meanwhile, The PUNCH had earlier reported that the EFCC had rearrested the ex-minister on December 13, 2023, after getting an arrest warrant following allegations that Agunloye jumped bail.

EFCC sources privy to the development told our correspondent that Agunloye would be arraigned in court in January 2024 on charges of official corruption and forgery to the tune of N6bn.

The PUNCH reports that over a week ago, the EFCC declared Agunloye wanted in connection with an alleged N6bn scam involving the contentious Mambilla hydropower project.

Agunloye was a minister under former President Olusegun Obasanjo’s government (1999-2003).

He has since been at the centre of the controversy about the Mambilla project.

He was accused by Obasanjo of illegally awarding the project’s contract without the Federal Executive Council’s consent.

Agunloye has since denied the allegation.