• The Economic and Financial Crimes Commission (EFCC) has released a former minister of power, Olu Agunloye, on bail one week after he was detained
• Weeks ago, the EFCC declared Agunloye wanted over an alleged $6 billion fraud related to the controversial Mambilla hydropower project
• Legit.ng reports that Agunloye was a minister under President Olusegun Obasanjo’s government (1999-2003), and has been at the centre of the controversy about the Mambilla project

Legit.ng journalist Ridwan Adeola Yusuf has over 9-year-experience covering public journalism

FCT, Abuja - The Economic and Financial Crimes Commission (EFCC) has granted bail to former minister of power and steel, Olu Agunloye.

As reported by Leadership newspaper, Agunloye was released after a week in detention.

Agunloye temporarily set free

EFCC spokesperson, Dele Oyewale, confirmed Agunloye’s release on Wednesday, December 20, Business Day noted.

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Recall that Agunloye was declared wanted by the EFCC weeks ago over alleged involvement in a $6 billion fraud linked to the Mambilla hydropower project. The former minister voluntarily surrendered himself to the commission for questioning on December 13, a day after the declaration.

Agunloye served as a minister during President Olusegun Obasanjo’s tenure (1999–2003) and was connected to the controversial Mambilla project.

Obasanjo accused him of wrongly awarding the project’s contract without approval from the Federal Executive Council (FEC).

Agunloye refuted the allegations, claiming that Obasanjo was distorting the truth.

EFCC declares Agunloye wanted

Earlier, Legit.ng reported that the EFCC declared Agunloye wanted over fraud allegation.

In a Facebook post, the EFCC asked any Nigerian who knows the whereabouts of the former minister to report to the nearest police station or inform the anti-graft agency.

EFCC detains Agunloye

Legit.ng also reported that Agunloye was detained in the custody of the EFCC.

An EFCC source, who confirmed the development, said Agunloye has been detained since December 13, 2023.

Obasanjo offers to testify against Agunloye

In another related news, Legit.ng reported that Obasanjo reportedly informed the Bola Ahmed Tinubu administration that he is ready to testify against Agunloye wanted over alleged corruption and forgery.

Obasanjo maintained that no minister had the authority to commit Nigeria to beyond N25 million without express presidential consent.

Source: Legit.ng