The Economic and Financial Crimes Commission has declared a former minister of power and steel Olu Agunloye wanted in connection with an alleged $6 billion fraud.
Agunloye, who served under former President Olusegun Obasanjo from 1999 to 2003, is sought by the anti-graft agency for questioning regarding his role in the $6 billion Mambila hydropower contract.
The EFCC issued a notification on its X account, urging individuals with information about Agunloye’s whereabouts to promptly report to the agency or the police.
“WANTED BY THE EFCC: OLU AGUNLOYE
“Anyone with useful information as to his whereabouts should contact the EFCC or the nearest police station,” the post read
Despite being invited for questioning by the anti-graft agency, Agunloye failed to honor the invitation.
During Agunloye’s tenure under President Obasanjo, the Mambilla power project was approved, allegedly without the endorsement of the Federal Executive Council.
In response to the accusations, Obasanjo claimed ignorance of the contract’s awardee and challenged Agunloye to disclose the source of authority for awarding a $6 billion contract to Sunrise Power and Transmission Ltd in 2003.
Agunloye defended his actions, stating that the initial contract for the Mambilla Power Project was awarded as a build-operate-and-transfer contract in May 2003 under his supervision.
According to him, the government was not obligated to make any payment under the build, operate, and transfer agreement, as the project was to be entirely funded by the newly registered company, which declared assets valued at less than $2,000 at the time.
