Court grants ex-minister, Agunloye, N50m bail

Court grants ex-minister, Agunloye, N50m bail

 

An Abuja High Court on Thursday granted bail to a former Minister of Power and Steel, Mr Olu Agunloye, who was remanded in prison custody over his alleged complicity in a $6 billion contract fraud.

Trial Justice Jude Onwuegbuzie granted the bail to Agunloye to the tune of N50 million with two sureties in the same sum.

The former minister is facing a seven-count charge instituted by the Economic and Financial Crimes Commission, EFCC.

The court held that the sureties must own landed properties worth N300 million, adding that the Certificate of Occupancy of the said properties must be verifiable.

The trial judge ordered that the sureties must submit copies of their identity cards as well as photocopies of their international passports to the court registry.

The defendant was further ordered to submit his international passport to the court and ensure his availability at all times for his trial.

The defendant had, through his counsel, Mr Adeola Adedipe, SAN, urged the court to either grant him bail on self-recognisance or on very liberal terms.

Agunloye however said the charge the anti-graft agency preferred against him contained a bailable offence.

He told the court that he would not pose any flight risk, saying he would be available for his trial.

Justice Onwuegbuzie fixed February 12 for the commencement of hearing of the case. Agunloye served as a minister between 1999 and 2003, under the administration of former President Olusegun Obasanjo.

He was accused of illegally awarding a contract for the construction of a 3,960MW Mambilla hydroelectric power station on a build, operate, and transfer basis.

The agency told the court that the contract, which was awarded to Sunrise Power and Transmission Company Limited, was done without any budgetary provision, approval, or cash backing.

Agunloye was also alleged to have corruptly received kickback to the tune of N3.6 million from the company he awarded the contract to.

However, the defendant, who had also served as a Minister of State for Defence, pleaded not guilty to the charge when he was docked on Wednesday, even as the court remanded him in Kuje prison pending the decision on his bail application.