In a dramatic twist in the high-profile trial of former Minister of Power and Steel Development, Dr. Olu Agunloye, key witness testimony and written statements from former President Olusegun Obasanjo have reinforced corruption allegations tied to the controversial $6 billion Mambila Power Project.
Testifying before Justice J.O. Onwuegbuzie at the Federal Capital Territory High Court, Apo, Umar Babangida, a lead investigator with the Economic and Financial Crimes Commission (EFCC), revealed that Obasanjo categorically denied ever granting approval to Sunrise Power and Transmission Company Limited for the project during his presidency.
According to Babangida, the EFCC reviewed a Certified True Copy of a 2023 letter from Obasanjo addressed to the Ministry of Justice, in which the former president confirmed that while he directed then-Minister Agunloye to submit a project memo to the Federal Executive Council (FEC), no formal approval was granted for the contract award.
Furthermore, during a face-to-face meeting with EFCC investigators on February 7, 2024, Obasanjo reiterated—this time in writing—that Agunloye’s decision to award the contract on May 22, 2003, was done without presidential or FEC approval and directly contravened a directive to withdraw the memo and allow for competitive bidding.
Shockingly, Babangida told the court that Agunloye went ahead to sign the contract with Sunrise Power just 24 hours after being told to halt the process, suggesting deliberate defiance of lawful orders.
“He was directed to open the bidding process, but instead, he unilaterally issued the contract to Sunrise,” Babangida testified.
The EFCC is prosecuting Agunloye on a seven-count charge of official corruption and fraudulent contract award, with the alleged misconduct valued at a staggering $6 billion. The case continues to attract national attention due to its scale and the involvement of high-profile figures.
The prosecution also presented financial records showing that Agunloye received multiple payments in 2019 from one Shotire Jide Abiodun, a known associate of Leno Adesanya, who owns Sunrise Power. The amounts, traced to Guaranty Trust Bank accounts, include:
₦3.6 million on August 10, 2019
₦500,000 on October 22, 2019
₦1.12 million on November 13, 2019
Babangida identified Abiodun as both a personal assistant to Adesanya and a director at Sunrise Power, further deepening suspicions of corrupt enrichment linked to the power deal.
The case has now been adjourned until June 18, 2025, for continuation of trial.
As the nation watches closely, the unfolding scandal continues to raise questions about accountability in Nigeria’s energy sector and the misuse of executive privilege for private gain.
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