The trial of the former Minister of Power and Steel, Olu Agunloye, over the alleged $6 billion Mambilla Power Project fraud continued on Monday at the Federal High Court in Apo, Abuja.
Testifying before Justice Jude Onwuegbuzie, an investigator with the Economic and Financial Crimes Commission (EFCC), Umar Babangida, told the court that Agunloye reduced the federal government’s equity in the project from 25 percent to 10 percent without the approval of the president.
According to the witness, the recommended 25 percent government stake was valued at about $1.5 billion, but there was no official approval for the reduction.
The EFCC is prosecuting Agunloye on a seven-count charge bordering on corruption and the alleged fraudulent award of the Mambilla power project contract to Sunrise Power Transmission Company Limited.
Babangida also told the court that the former minister allegedly received N5.6 million linked to the contract award.
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He said the money was transferred in 2003 by Jide Sotinri on the instructions of Leno Adesanya.
The witness added that there was no ministerial tenders board in 2003 when the contract was awarded, noting that the process was handled by a technical committee.
After the cross-examination, Justice Onwuegbuzie adjourned the case to March 30, 2026, for further hearing, with additional trial dates fixed for April 20, 27, and 30, 2026, respectively.
