Michael AndeyinOn Monday, Adewale Agunbiade, a former Guaranty Trust Bank (GTB) staff, testified that Olu Agunloye, a former minister of power and steel from 1999 to 2003, received N5.2 million from Jide Sotirin, a Sunrise Power and Transmission Ltd. staff.
The Economic and Financial Crimes Commission (EFCC), serving as the prosecution in a corruption case against Agunloye, made this known on Tuesday.
The EFCC declared Agunloye wanted in December in connection to what it described as a fraudulent $6 billion Mambilla hydropower contract he awarded to Sunrise Power and Transmission Ltd. in 2003.
Agunbiade narrated how Agunloye got the money first in N30,000 transactions in five places, then a N3.6 million credit, another N1.121 million credit and then N500,000.
The ex-GTB staff testified at the Federal High Court in Abuja before Justice Jude Onwuegbuzie on Monday. According to Agunbiade, Agunloye received N5.2 million through multiple transfers and ATM withdrawals.
READ ALSO: Mambilla Power Project: How Sunrise Power Chairman ‘Attempted to Bribe Ministers With Women’
Alleged $6b Mambila Project Fraud: Witness Narrates how N5.2m was Allegedly Wired to AgunloyeAdewale Agunbiade, a prosecuting witness in the trial of former Minister of Power and Steel, Olu Agunloye on Monday, September 23, 2024, narrated before Justice Jude Onwuegbuzie of the… pic.twitter.com/B2NmkHJyc5— EFCC Nigeria (@officialEFCC) September 24, 2024
“In October 2022, GTB received an investigation activity inquiry from the EFCC in respect of the account of two customers, Mr Olu Agunloye and Mr Jide Sotinri. My team received the requests on behalf of the bank, following which I generated the statement of account via the system used by me at the time,” Agunbiade said.
The banker said that his team also prepared the Certificate of Identification after he reviewed the statements of account against the bank’s records.
Agunbiade cosigned the cover letter of the responses to the EFCC.
READ MORE: Former Minister Olu Agunloye Declared Wanted by EFCC
“As of 22 October 2019, a record of N500,000 was transferred from Sotirin Jide Abiodun to Olu Agunloye. On 13 November 2019, a record of N1,121,000 from Leno in favour of Agunloye Olu from Jide Sotirin,” Agunbiade told the court.
“On 10 August 2019, there was an inward transfer of N3.6 million from Sotirin Jide Abiodun. On 22 October 2019, there was an inflow of N500,000 from Sotirin Jide Abiodun. Also on 13th November 2019, there was an inflow of N1,121,000 in favour of Agunloye Olu from Jide Sotirin.”
The Mambilla hydropower contract was first awarded in 2003 to Sunrise Power and Transmission Limited during the Olusegun Obasanjo-led administration.
In a September 2023 interview with TheCable, Obasanjo said that Agunloye fraudulently awarded the contract for the project without the approval of the Federal Executive Council (FEC). Agunloye later denied the former president’s claim.
He said that the contract was awarded under his watch as a Build, Operate and Transfer (BOT) contract in May 2003.
The federal government did not need to pay any amount to the contractor, Agunloye claimed. In this arrangement, a contractor is tasked with sourcing funds and executing a project solely on their own financial resources.
The post $6bn Mambilla Fraud Trial: Ex-GTB Staff Narrates How Ex-Power Minister Got N5.2m appeared first on Foundation For Investigative Journalism.
