The Economic and Financial Crimes Commission (EFCC) has made shocking allegations against Olu Agunloye, the former Minister of Power and Steel, asserting that he received N5.2 million from Jide Sotirin Abiodun, an employee of Sunrise Power and Transmission Ltd. This revelation came during testimony from Adewale Agunbiade, a key witness and former Compliance Officer at Guaranty Trust Bank (GTB).

Agunloye is currently facing seven charges related to official corruption and the fraudulent awarding of the $6 billion Mambilla Power Project contract to Sunrise Power and Transmission Ltd. The testimony was presented before Justice Jude Onwuegbuzie at the Federal Capital Territory High Court in Abuja.

In his statement, Agunbiade detailed that GTB had received an inquiry from the EFCC in October 2022 regarding the accounts of both Agunloye and Sotirin. He presented account statements and Certificates of Identification that highlighted six transactions on September 10, 2019. These transactions included five ATM withdrawals of N30,000 each and a significant transfer of N3.6 million from Sotirin to Agunloye.

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Agunbiade explained, “On page two of Exhibit 2b is the statement of Jide Sotirin Abiodun and the Certificate of Identification prepared by me. On September 10, 2019, there were six transactions, with the last five being ATM withdrawals of N30,000 each. The final transaction on August 10, 2019, was a transfer of N3.6 million from Sotirin Jide Abiodun to Olu Agunloye.”

Further evidence revealed additional substantial transfers to Agunloye in 2019, including N500,000 from Sotirin on October 22 and another N1,121,000 on November 13. The court has adjourned the case until October 21, 2024, for cross-examination.