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$6bn Mambilla saga: Agunloye released from prison after meeting bail conditions

$6bn Mambilla saga: Agunloye released from prison after meeting bail conditions
January 20
08:28 2024

Olu Agunloye, a former minister of power and steel, has been released from Kuje Correctional Centre.

Adamu Duza, spokesperson for the federal capital territory (FCT) command of the Nigerian Correctional Service (NCoS), confirmed the development to TheCable on Saturday.

“I can confirm to you that Agunloye has been released from Kuje Correctional Centre after meeting the bail conditions provided by the court. He was released on Friday around 5 pm,” he said.

The Economic and Financial Crimes Commission (EFCC) has been prosecuting Agunloye over a $6 billion Mambilla hydropower contract.


The EFCC said it traced some suspicious payments made by Sunrise Power and Transmission Ltd to Agunloye’s bank accounts.

Former President Olusegun Obasanjo had also challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003.

Agunloye was arraigned on seven-count charges bordering on fraudulent award of a contract and official corruption.


The judge had ordered his remand pending hearing and ruling on the bail application.

The FCT high court in Apo had later granted the former minister N50 million bail and ordered him to produce two sureties in like sum.

The judge said the sureties must be “reputable” and “people of means” resident within the FCT, and must have properties worth N300 million with a Certificate of Occupancy that must be verifiable.


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