EFCC: Former Minister Ogunloye Declared Wanted 

EFCC: Former Minister Ogunloye Declared Wanted 

The former minister of power and steel, Olu Agunloye, has been declared wanted by the Economic and Financial Crimes Commission (EFCC) due to alleged involvement in a $6 billion fraud.

Agunloye served as a minister under President Olusegun Obasanjo from 1999 to 2003.

The EFCC made this announcement through a notification on its Facebook page, urging anyone with information on Agunloye’s whereabouts to report to the agency or the police.

“Dr. U Agunloye is wanted by the EFCC. You know his whereabout? Please don’t hesitate to inform the EFCC or the nearest Police Station,” The post by the EFCC reads.

It has been reported that the anti-graft agency had summoned Agunloye for questioning regarding his role in the $6 billion Mambila hydropower contract.

However, he failed to honor the invitation.

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

In an interview, Obasanjo claimed that he was unaware of who awarded the contract.

Obasanjo has challenged Agunloye to explain how he had the authority to award a $6 billion contract to Sunrise Power and Transmission Ltd for the Mambilla Project in 2003.

In response, Agunloye has stated that the initial contract for the Mambilla Power Project was awarded as a build-operate-and-transfer contract during his tenure.

He further clarified that the government was not obliged to make any payment under the build, operate, and transfer agreement, as the funding was supposed to be fully provided by the newly registered company, Sunrise Power and Transmission Ltd, which had declared assets worth less than $2,000 at the time.