The Federal Capital Territory High Court in Apo granted bail of N50 million to former Minister of Power and Steel, Olu Agunloye, who was previously ordered to be remanded in the Kuje Correctional Service.
The bail is in connection to an alleged $6 billion fraud related to the Mambilla Hydroelectric Power Station. Agunloye, who served as minister from 1999 to 2003 under former President Olusegun Obasanjo, pleaded not guilty to the charges brought against him by the Economic and Financial Crimes Commission before Justice J.O. Onwuegbuzie.
Agunloye’s lawyer, Adeola Adedipe, argued for bail, asserting that his client is not a flight risk and contesting the prosecution’s notion as a result of a “misconception and communication barrier.” Adedipe also requested the court not to mandate a public servant as surety for Agunloye.