In a dramatic twist in the ongoing $6 billion Mambilla Hydropower fraud case, the Economic and Financial Crimes Commission (EFCC) on Monday tendered a written statement by former President Olusegun Obasanjo as key evidence against embattled former Minister of Power and Steel, Dr. Olu Agunloye.
Agunloye, who served under Obasanjo’s administration, is standing trial before Justice Jude Onwuegbuzie of the Apo High Court in Abuja on a seven-count charge bordering on forgery, disobedience to presidential directives, and receiving illegal gratification in connection with the controversial Mambilla Power Project awarded to Sunrise Power and Transmission Company Limited (SPTCL) in 2003.
According to the EFCC, Agunloye unilaterally awarded the multi-billion-dollar contract on May 22, 2003—barely a week before the end of Obasanjo’s first term—without due process, presidential approval, or financial backing. The anti-graft agency further alleged that the former minister received ₦5.2 million in suspicious payments linked to SPTCL and its promoter, Leno Adesanya, through a proxy account held by Jide Abiodun Sotirin at GTBank.
At Monday’s proceedings, the EFCC’s third prosecution witness, Assistant Commissioner of Police Umar Hussein Babangida—currently seconded to the commission—testified that Obasanjo had submitted a letter dated November 27, 2023, to the Attorney-General of the Federation. The letter, now part of the prosecution’s evidence, reportedly sheds light on the Federal Executive Council (FEC) meeting held on May 21, 2003, just a day before the contentious contract was signed.
“We obtained a Certified True Copy (CTC) of the document from the Federal Ministry of Justice,” Babangida told the court. “In it, President Obasanjo clearly stated he received a memorandum from Agunloye regarding the Mambilla project and directed that it be presented to the FEC for deliberation—but crucially, he never gave approval for the award of the contract, nor was any such approval granted at the FEC meeting.”
Babangida further revealed that during the course of the investigation, the EFCC team held a personal interview with Obasanjo. The former president reportedly reiterated that at no point did he approve the Mambilla deal. He also asserted that Agunloye was instructed by the FEC to withdraw the memorandum rather than proceed with awarding the contract.
The prosecution, led by Senior Advocate of Nigeria (SAN), Abba Mohammed, formally tendered Obasanjo’s statement as an exhibit. However, the defence counsel, Samuel Fagade—standing in for lead defence lawyer Adeola Adedipe (SAN)—raised objections to its admissibility, reserving detailed arguments for the final written address.
Despite the objection, Justice Onwuegbuzie provisionally admitted the former president’s statement into evidence.
Delving deeper into the money trail, Babangida disclosed that the EFCC’s forensic analysis of Agunloye’s financial records uncovered multiple bank accounts. Notably, his GTBank account received a series of transfers from Jide Abiodun Sotirin, a known associate and domestic aide of Leno Adesanya, who also serves as a director at SPTCL.
The witness stated that ₦3.6 million was wired to Agunloye’s account on August 10, 2019, followed by ₦500,000 on October 22, 2019, and ₦1.1 million on November 13, 2019—all traced back to entities connected to SPTCL.
As the courtroom buzzed with intrigue, Justice Onwuegbuzie adjourned the matter to June 18, 2025, for the continuation of the high-profile trial.
The case has continued to attract national attention, with legal experts and the public closely watching the unfolding revelations in one of Nigeria’s most controversial energy sector scandals.
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