EFCC Releases Former Power Minister, Agunloye On Bail

The Economic and Financial Crimes Commission (EFCC) has released Olu Agunloye, a former Minister of State for Power, on bail one week after his initial arrest.

EFCC Spokesman, Dele Oyewale, disclosed in an interview that Agunloye was released on Wednesday.

The EFCC weeks ago declared Agulonye wanted over an alleged $6 billion fraud related to the controversial Mambilla hydropower project.

The anti-graft agency had urged anyone “with useful information as to his whereabouts” to contact the agency. The EFCC had in September questioned the former minister over the same issue.

Agunloye was a minister under President Olusegun Obasanjo’s government (1999-2003). He has been at the center of the controversy about the Mambilla project.

Obasanjo had accused him of fraudulently awarding the contract for the project without the Federal Executive Council (FEC) approval. But Agunloye denied the accusations and claimed the former president was distorting facts.