The Economic and Financial Crimes Commission (EFCC) has officially declared former Minister of Power and Steel, Olu Agunloye, wanted for his alleged involvement in a $6 billion fraud. Agunloye served during the administration of former President Olusegun Obasanjo from 1999 to 2003.
The EFCC issued a public notice via its Facebook account, urging anyone with information about Agunloye’s whereabouts to report to the EFCC or the nearest police station.
The anti-graft agency’s post reads: “Dr. U Agunloye is wanted by the EFCC. You know his whereabouts? Please don’t hesitate to inform the EFCC or the nearest Police Station.”
Agunloye had been invited by the EFCC for questioning regarding his role in the $6 billion Mambila hydropower contract. However, he did not respond to the invitation.
During Agunloye’s tenure, the Mambilla power project was approved, allegedly without the required approval from the Federal Executive Council (FEC). Former President Obasanjo, when questioned, claimed ignorance about who awarded the contract.
In response, Agunloye explained that the initial contract for the Mambilla Power Project, awarded as a build-operate-and-transfer contract in May 2003, was under his watch. He asserted that the government was not obligated to pay any amount to Sunrise Power and Transmission Ltd under the build, operate, and transfer (BOT) agreement, as the project was to be fully funded by the newly registered company, which declared assets worth less than $2,000 at the time.
