Suspected Fraud: EFCC declares Obasanjo’s minister Agunloye wanted
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Suspected Fraud: EFCC declares Obasanjo’s minister Agunloye wanted

The Economic and Financial Crimes Commission (EFCC) has issued a declaration of wanted status for Olu Agunloye, a former Minister of Power and Steel, in connection with an alleged $6 billion fraud. Agunloye served during the administration of former President Olusegun Obasanjo from 1999 to 2003.

The anti-graft agency publicized this information through a notification posted on its Facebook account, urging individuals with any knowledge of his whereabouts to promptly report to the EFCC or the nearest police station.

The EFCC’s statement on Facebook 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.”

It was gathered that the EFCC had previously invited Agunloye for questioning regarding his involvement in the $6 billion Mambila hydropower contract. However, he failed to honor the invitation.

During Agunloye’s tenure under former President Obasanjo, the Mambilla power project was approved, allegedly without the endorsement of the Federal Executive Council (FEC).

In response to the situation, Obasanjo, in an interview, claimed ignorance about 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 relation to the project in 2003.

Agunloye defended himself by 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 (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.

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