Agunloye reduced FG’s equity participation by $900m unilaterally – EFCC Witness

A witness, Umar Babangida, told an Abuja High Court that Dr Olu Agunloye, a former Minister of Power and Steel, reduced the Federal Government’s equity participation management project by 900 million dollars.

Babangida, an Assistant Commissioner of Police and investigator with the Economic and Financial Crimes Commission, said Agunloye did so unilaterally without the approval of former President Olusegun Obasanjo.

Agunloye is charged with disobeying presidential directive, conspiracy, forgery and receiving gratification before Justice Jude Onwuegbuzie, sitting in Apo.

He was alleged to have received gratification from Adesanya to the tune of N5.212 million through Jide Sotirin through his Guaranty Trust Bank (GTB) account, for conveying the Federal Government’s approval for the construction of the Mambila Hydroelectric Power Station.

The EFCC alleged that while serving as minister, Agunloye conspired with Leno Adesanya of SPTCL to forge a letter titled, “Construction of 3,960MW Mambilla Hydroelectric Power Station on a build, operate and transfer” basis.

He, however, pleaded not guilty to the charge.

Babangida gave the testimony while being cross examined by counsel for Agunloye, Adeola Adedipe SAN.

He told the court that the initial Federal Government’s equity participation earlier recommended was 25 percent, an equivalent of $1.5 billion.

Babangida said the contract awarded to Sunrise Power and Transmission Company Limited (SPTCL) in 2003 by the defendant was between zero and 10 per cent Federal Government equity participation.

Asked to calculate 10 percent of $6 billion, the witness told the court that it was $1.5 billion, adding that 10 percent of $6 billion was $600 million.

He said that it was not correct that Agunloye saved the government 900million dollars by awarding the Mambilla project at not more than 10 per cent equity participation.

He told the court that Agunloye advised EFCC to invite one of the persons present at the May 21, 2003 Federal Executive Council (FEC) meeting to get a fuller picture of what transpired at the meeting.

He added that the questionnaire for former President Obasanjo by the delegation of counsel to the Federal Government had previously been tendered in evidence before the court as Exhibit EFCC3 O.

He confirmed to the court that his investigation revealed that  Agunloye received a gratification of N5.2million, 16 years after he left office as a minister for awarding the Mambilla project contract.

The witness told the court that Sotirin was the one who sent the defendant the money “but by the instruction of his boss, Leno Adesanya”.

Also Read

• Agunloye reduced FG’s equity participation by $900m unilaterally – EFCC Witness
• Alleged terrorism; Suspected Ansaru commanders trained in Libya, DSS witness tells court
• FG fulfills promises as D’Tigress receive documents of houses, national honours
• Two million cookstoves initiative to transform rural households — Gov. Alia
• How, why Kaduna-Abuja passenger train derailed — NSIB

Babangida said Sotirin informed the EFCC investigative team that the money was for a medical procedure.

“The defendant informed the investigating team that the money was for a medical emergency but a review of the defendant’s statement of account showed otherwise.”

The witness further told the court that Agunloye transferred the money to some persons and could not recall if he said that in his evidence-in-chief.

He added that none of those recipients was invited to explain what the funds were meant for.

Asked if Sotirin told EFCC that the N5.2million sent to Agunloye was gratification, Babangida said;

“He (Sotirin) told the investigating team that he was acting on the instruction of his boss, Leno Adesanya.

“He didn’t say so (that the money was for gratification) but I am not surprised.”

After the testimony, Justice Onwuegbuzie adjourned until March 30 for continuation of trial.

Follow The Eagle Online Channel on WhatsApp

[wpadcenter_ad id='745970' align='none']