The Economic and Financial Crimes Commission (EFCC) has formally declared Olu Agunloye, former Minister of Power and Steel, wanted over alleged involvement in fraud related to the $6 billion Mambila hydropower contract.
It partly 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.”
The announcement, posted on the EFCC’s official X account, urges the public to share information regarding Agunloye’s location.
Agunloye had been invited by the EFCC for questioning on his role in the Mambila hydropower contract, but he declined to cooperate.
Former President Olusegun Obasanjo accused Agunloye of mismanaging the project and questioned the approval process for awarding a $6 billion contract to Sunrise Power and Transmission Ltd. in 2003 without Federal Executive Council (FEC) authorization.
In response to the accusations, Agunloye clarified that the Mambilla Power Project’s initial contract was a build-operate-and-transfer agreement awarded in May 2003 during his ministerial tenure.
He emphasized that the government was not obliged to make any payments under the build, operate, and transfer (BOT) agreement, as Sunrise was responsible for full funding, with declared assets of less than $2,000 at the time.
Amidst the unfolding controversy, Agunloye faced questioning by the EFCC, particularly concerning a suspicious payment reportedly traced to his bank account.
| Vanguard
