Alleged $6billion fraud: Court grants former minister Agunloye N50 million bail

The embattled former Minister of Power and Steel, Dr Olu Agunloye, who is enmeshed in an alleged in $6billion fraud having been accused in the award of the botched Mambilla Hydropower Project cited in Taraba State and arraigned on Wednesday has been granted bail in the sum of N50million

Penpushing reports that Agunloye  arraigned by the Economic and Financial Crimes Commission (EFCC) had been ordered by the court to be remanded at the correctional centre in Abuja, after he took his plea, denying any wrongdoing when the charges were read to him

The said project was meant to resolve Nigeria’s epileptic power issues, however, at Thursday’s proceedings Justice Jude Onwuegbuzie of the High Court at Apo, Abuja, the Federal Capital Territory (FCT) while ruling on the bail application granted him bail

Penpushing further reports that Onwuegbuzie held that aside from the N50million bail, the defendant must produce reputable  sureties  in like sum and must be residents of the Abuja, the Nigeria’s capital city.

The judge emphasized that the sureties must own landed assets worth N300 million, adding that the Certificate of Occupancy of the properties must be verifiable, and must equally submitted copies of their identity cards and photocopies of their passports to the court registry.

Penpushing also reports that the judge ruled and ordered that the former Minister of Power and Steel must surrender his passport to the court, and be present in court at all times for the trial, as it is recalled that his(Agunloye) counsel had earlier urged the court to either grant him bail on self-recognisance or on liberal terms.

The lawyer Adeola Adedipe, a Senior Advocate of Nigeria (SAN), argued that the charges against  Agunloye were bailable, promising that his client would not jump bail, stressing that he is a flight risk and that the notion by the prosecution was borne out of misconception and communication barrier.

Penpushing reports that the Senior Advocate of Nigeria (SAN) urged the court not to order the use of a public servant as surety for his client, referencing the case of Sambo Dasuki, a former National Security Adviser (NSA).

The legal practitioner pointed out that once a defendant is admitted to bail, even if he absconds, trial will continue and he will be convicted where necessary, citing Section 352( 4) of the Administration of Criminal Justice Act (ACJA).

Penpushing further reports  the prosecution lawyer Abba Muhammed, however, opposed the bail request, citing Economic and Financial Crimes Commission(EFCC’s) earlier disagreement with  Agunloye, noting that he(Agunloye) had earlier been declared wanted after it alleged the defendant jumped the administrative bail earlier granted him.

The Economic and Financial Crimes Commission(EFCC), in December 2023, declared Agunloye wanted over a case of alleged corruption and forgery but later surrendered himself for interrogation on 13 December, a day after he was declared wanted by the commission over corruption allegations regarding a failed multi-billion-dollar Mambilla Hydropower project.

Penpushing also reports that it is recalled that an associate of the former minister, Oluwafisan Bankale, wrote in a statement at the time that Agunloye was neither in hiding nor on the run, assuring friends and members of the general public who might be worried about Agunloye’s whereabouts and his safety.

The associate explained that as at the time of filing this report Agunloye was in the custody of the Economic and Financial Crimes Commission (EFCC) and cooperating with them, adding that he can vouch for the integrity of the former minister.

Penpushing reports that the 75-year-old Agunloye was arraigned on seven counts of fraudulent award of the contract and official corruption on Wednesday, and pleaded not guilty to all the seven counts preferred against him, as the judge slated February 12, 2024 for commencement of trial.

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