The Economic and Financial Crimes Commission (EFCC) has presented evidence in court regarding alleged fraudulent transfers to the former Nigerian Minister of Power and Steel, Olu Agunloye, connected to the $6 billion Mambilla Power Project.
A witness, Adewale Agunbiade, a former Guaranty Trust Bank (GTB) Compliance Officer, testified on how N5.2 million was transferred to Agunloye’s account from Jide Sotirin Abiodun, an employee of Sunrise Power and Transmission Ltd.
Agunloye is facing prosecution over the fraudulent awarding of the Mambilla Power Project contract to Sunrise Power. Agunbiade revealed that during his examination, “GTB received an EFCC inquiry in October 2022 about customers Olu Agunloye and Jide Sotirin’s accounts.” He detailed six transactions on September 10, 2019, which included “five N30,000 ATM withdrawals and a N3.6 million transfer from Jide Sotirin to Olu Agunloye.”
The witness noted that significant financial transfers were made to Agunloye’s account in 2019, stating, “On 10 August 2019, there was an inward transfer of N3,600,000.00 from Sotirin Jide Abiodun.” He added that “as of 22 October 2019, a record of N500,000.00 was transferred from Sotirin Jide Abiodun to Olu Agunloye.”
The case has been adjourned until October 21, 2024, for cross-examination.
