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Alleged $6bn Mambilla Project Fraud: EFCC Re-arraigns Agunloye on Amended Charge
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, sitting 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.
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