Olu Agunloye Fraud Case: BAT’s 4/4 Renewed Hope Agenda Reiterates Tinubu’s Commitment to Tackle “Big Ticket Corruption” Head-On
In a significant development in the ongoing saga surrounding the Mambilla Power Project, a Federal High Court in Abuja has ordered the remand of former Minister of Power and Steel, Dr. Olu Agunloye, in Kuje prison. This decision comes in the wake of allegations of fraud amounting to $6 billion in the Mambilla hydropower contract.
The Mambilla Power Project, a 3.05GW hydroelectric facility, has long been marred by tales of bribery, corruption, and fraudulent activities. Despite being a critical project for Nigeria’s power infrastructure, it has faced numerous challenges, reflecting broader issues within the country’s approach to turnkey projects.
Dr. Agunloye, who previously served as the Minister of Power and Steel, was arraigned by the Economic and Financial Crimes Commission (EFCC) on charges related to the Mambilla hydropower contract. The former minister pleaded not guilty to the charges, setting the stage for a legal battle that could expose the alleged corrupt practices associated with the project.
The EFCC had declared Agunloye wanted over corruption allegations, and he subsequently surrendered himself to the commission for investigation. The charges against him stem from his role in awarding a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003. The former President, Olusegun Obasanjo, had challenged Agunloye to explain the basis for awarding such a significant contract.
Agunloye defended his actions, stating that the government was not obligated to pay any amount to Sunrise under the build, operate, and transfer (BOT) agreement. He argued that the project was intended to be fully funded by the newly registered company, whose declared assets were reportedly worth less than $2,000 at the time.
The BAT’S 4/4 Renewed Hope Agenda Support Group expressed confidence in President Bola Ahmed Tinubu’s determination and political will to address cases of “Big Ticket Corruption” involving current and former high-ranking government officials. The group emphasized that the intention is not to engage in a witch hunt but rather to clean up corruption within the Nigerian public service.
As the legal proceedings unfold, all eyes are on the court’s decision and the potential impact on unraveling the complexities surrounding the Mambilla Power Project and other instances of corruption within the government.
