Olu Agunloye, a former Minister of Power and Steel under ex-President Olusegun Obasanjo, was re-arraigned on Monday, February 3, 2024, before Justice J.O. Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja. The re-arraignment stems from amended allegations of fraudulent contract awards and official corruption.
Agunloye is accused of making a false document to facilitate a contract between the Federal Republic of Nigeria and Sunrise Power and Transmission Company Limited (SPTCL) for the construction of the 3,960MW Mambilla Hydroelectric Power Station. The document, dated May 22, 2003, allegedly committed forgery contrary to Sections 363 and 364 of the Penal Code .
The former minister pleaded not guilty to all charges. During the hearing, Adewale Agunbiade, a Compliance Officer formerly with Guaranty Trust Bank and now with Jaiz Bank Plc, was cross-examined by Agunloye’s defence counsel, Adeola Adedipe, SAN.
Agunloye’s re-arraignment is the latest development in a case that has been ongoing since his initial arraignment on January 10, 2024, on seven counts of fraudulent award of contract and official corruption.
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