UPDATE: EFCC arrests ex-power minister, Agunloye over alleged fraud

UPDATE: EFCC arrests ex-power minister, Agunloye over alleged fraud

The Economic and Financial Crimes Commission (EFCC), has arrested a former Minister of State for Power, Olu Agunloye.

Agunloye was a minister under President Olusegun Obasanjo’s government between 1999 and 2003.

NATIONAL PERISCOPE had earlier reported that  EFCC declared Agunloye wanted over his role in the $6 billion Mambilla hydropower contract.

Former President Obasanjo had accused Agunloye of mismanaging the power project during his tenure from 1999 to 2003 and failed to brief him on the state of the project.

Obasanjo had accused Agunloye of fraudulently awarding the contract for the power project to Sunrise Power and Transmission Ltd, without the approval of the Federal Executive Council (FEC).

Sunrise is currently in arbitration against Nigeria demanding billions of dollars for the failed contract.

However, Agunloye has denied any wrongdoing in the project and said that Obasanjo was merely distorting information against him.

Confirming his arrest, a source in the EFCC said on Tuesday that the former minister is being detained at the commission’s headquarters in Abuja.

“He has been with the EFCC since December 13th. But it was not made public”, the source said, adding that an investigation is still ongoing on the role played by the former minister on the failed Mambilla Power Project.