A High Court of the Federal Capital Territory sitting at Apo, yesterday, remanded a former Minister of Power and Steel, Mr. Olu Agunloye, in prison custody over alleged $6bn fraud.
Agunloye who was arraigned in court by the Economic and Financial Crimes Commission, EFCC, was remanded at the Kuje Correctional Center by Justice Jude Onwuegbuzie.
The former minister who served between 1999 and 2003, under the administration of former President Olusegun Obasanjo was arraigned on a seven-count charge in a $6billion fraud.
The anti graft agency alleged that the defendant while he served as a Minister, illegally awarded a contract for the construction of 3,960mw Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis.
The crimes commission told the court that the contract, which was awarded to Sunrise Power and Transmission Company Limited, was done without any budgetary provision, approval and cash backing.
Agunloye was equally alleged to have corruptly received kickback to the tune of N3.6million, from the company he awarded the contract to.
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Agunloye however pleaded not guilty to the charge.
The prosecution counsel, Mr. Abba Muhammed prayed the court for a trial date, even as he applied for the defendant to be remanded in a correctional centre.
On his part, the defence lawyer, Mr. Adeola Adedipe, SAN, notified the court that he had filed an application for the defendant to be released on bail, pending the hearing and determination of the case against him.
Adedipe, SAN, further prayed the court to allow his client to remain in the custody of the anti-graft agency till the determination of his bail application.
In a ruling, Justice Onwuegbuzie, while slating Thursday to rule on the Agunloye’s who had also served as a Minister of State for Defence, request for bail, ordered that he should be kept at the Kuje Correctional Centre.
Recall that the EFCC had earlier arrested and detained Agunloye over his alleged involvement in official corruption and forgery, relating to the $6billion Mambilla HydroPower Project.
He was later released on administrative bail and handed over to his lawyer, Adedipe, SAN.
The defendant had since denied an allegation by ex-President Obasanjo that he illegally awarded contracts pertaining to the HydroPower Project, without the approval of the Federal Executive Council, FEC.
