$6B MAMBILLA FRAUD SCANDAL: EFCC RE-ARRAIGNS OBASANJO’S POWER MINISTER, OLAGUNLOYE, ON FRESH SEVEN-COUNT CHARGES

Abuja, September 18, 2025 – The anti-graft war against grand corruption took a dramatic turn on Thursday as the Economic and Financial Crimes Commission (EFCC) re-arraigned former Minister of Power and Steel, Dr. Olu Agunloye, before Justice Jude Onwuegbuzie of the Federal High Court, Apo Division, Abuja, on an amended seven-count charge bordering on corruption, abuse of office, and fraudulent contract awards.

Agunloye, who served under former President Olusegun Obasanjo, stands accused of unlawfully awarding the $6 billion Mambilla Hydroelectric Power Project contract to Sunrise Power and Transmission Company Limited (SPTCL) in 2003, in blatant disregard of a presidential directive.

According to the EFCC, the ex-minister “knowingly disobeyed the directive of the President” when he signed a letter granting approval to Sunrise Power for the construction of the 3,960-megawatt plant – a project touted to be Nigeria’s largest power station and one of Africa’s biggest.

The Charges

One of the counts read:

“That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about May 2, 2003, in Abuja, knowingly disobeyed the directive of the President, made in the Federal Executive Council meeting of May 21, 2003, when you signed a letter to Sunrise Power conveying approval for the construction of the 3,960MW Mambilla Hydroelectric Power Station, thereby committing an offence contrary to and punishable under Section 123 of the Penal Code.”

In another explosive charge, the EFCC alleged that Agunloye, in collusion with Leno Adesanya, CEO of Sunrise Power (currently at large), deployed a forged document to induce the Federal Government into entering a contract with SPTCL under the guise of a Build, Operate, and Transfer (BOT) arrangement.

The alleged fraudulent document, dated May 22, 2003, became the foundation of a two-decade-long contractual dispute that has left the Mambilla Project in limbo.

Agunloye Pleads Not Guilty

Agunloye, however, pleaded not guilty to all the charges. His defense insists that he acted within the law and in the national interest.

EFCC counsel, M.K. Hussein, immediately urged the court to fix a date for the continuation of the testimony of the third prosecution witness. Justice Onwuegbuzie adjourned proceedings until October 9, 2025.

A Project Trapped in Controversy

The Mambilla Hydroelectric Power Project, conceived in the early 1980s and located in Taraba State, was envisioned to generate nearly 4,000MW of electricity – a game-changer for Nigeria’s chronic power shortages.

But instead of lighting up the nation, it has been trapped in four decades of disputes, corruption allegations, arbitration battles, and endless delays. Sunrise Power has persistently claimed ownership of the contract, dragging the Federal Government through local and international legal tussles.

The Bigger Picture

The EFCC’s move to re-arraign Agunloye is part of a broader crackdown on legacy corruption cases linked to Nigeria’s stalled mega-infrastructure projects. The Commission maintains that Agunloye exceeded his ministerial powers and unlawfully tied Nigeria into a controversial contract that continues to cost the nation billions in damages and lost opportunities.

For Agunloye, however, this case is more than legal – it is a battle for reputation. He insists he acted transparently and in good faith, dismissing EFCC’s charges as politically motivated.

As the case resumes next month, the Mambilla saga once again takes center stage, reopening deep wounds in Nigeria’s quest for stable electricity and shining a harsh spotlight on how corruption and abuse of office have crippled Africa’s largest economy.