Alleged project fraud; How N5.2 million was wired to former Minister —EFCC witness makes revelations 

Alleged project fraud; How N5.2 million was wired to former Minister —EFCC witness makes revelations

An Economic and Financial Crimes Commission (EFCC) witness, Adewale Agunbiade, has detailed how former Minister of Power and Steel, Olu Agunloye, allegedly received N5.2 million from Jide Sotirin Abiodun, an employee of Sunrise Power and Transmission Ltd, through multiple bank transfers and Automated Teller Machine (ATM) withdrawals.

Agunloye is facing prosecution by the EFCC on seven counts, including charges of official corruption and the fraudulent award of the $6 billion Mambilla Power Project contract to Sunrise Power and Transmission Ltd.

Testifying before Justice Jude Onwuegbuzie at the Federal Capital Territory High Court in Apo, Abuja, Agunbiade, a former Compliance Officer with Guaranty Trust Bank (GTB), recounted events from October 2022 when GTB received an inquiry from the EFCC concerning the accounts of Olu Agunloye and Jide Sotirin.

Agunbiade provided account statements and Certificates of Identification to the EFCC. The court was presented with evidence of six transactions from September 10, 2019, including five ATM withdrawals of N30,000 each and a N3.6 million transfer from Jide Sotirin to Olu Agunloye.

Details of what Agunbiade revealed at the court was contained in a statement shared by the anti-graft agency via their X handle.

The statement reads: “Adewale Agunbiade, a prosecuting witness in the trial of former Minister of Power and Steel, Olu Agunloye on Monday, September 23, 2024, narrated before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, sitting in Apo, Abuja, how the defendant allegedly received N5.2million from Jide Sotirin Abiodun, a staff of Sunrise Power and Transmission Ltd in multiple transfers and Automated Teller Machine, ATM, withdrawals.

“The witness, a Compliance Officer, formerly with Guaranty Trust Bank, GTB, but now with Jaiz Bank Plc, while being led in his examination-in-chief, by the prosecution counsel, Rotimi Oyedepo, SAN, disclosed that “On October 2022, GTB received an investigation activity inquiry from EFCC in respect of the account of two customers, Mr Olu Agunloye and Mr Jide Sotinri. My team received the requests on behalf of the bank, following which I generated the statement of account via the system used by me at the time. I also prepared the Certificate of Identification, following my review of the statement against the records of the bank. I cosigned the cover letter of the responses.”

“Upon identifying and confirming the letters from EFCC in respect of the said accounts, marked Exhibit 1a and 2a and GTB’s responses marked Exhibit 2a and 2b, “On page two of Exhibit 2b is the statement of Jide Sotirin Abiodun and the Certificate of Identification prepared by me on the statement of the account. On the 10th of September 2019, there were six transactions. The last five transactions were ATM cash withdrawals of N30,000 (Thirty Thousand Naira) each. The last transaction on 10 August 2019 was a transfer of N3,600,000.00 (Three Million, Six Hundred Thousand Naira) from Sotirin Jide Abiodun to Olu Agunloy”, he said.

“Speaking further, he disclosed that “As of 22 October 2019, a record of N500,000.00 (Five Hundred Thousand Naira) was transferred from Sotirin Jide Abiodun to Olu Agunloye. On 13 November 2019, a record of N1, 121,000 (One Million One Hundred and Twenty-one Thousand Naira) from Leno in favour of Agunloye Olu from Jide Sotirin. Exhibit 1b is an account opening belonging to Agunloye Olu. On 10 August 2019 was an inward transfer of N3,600,000.00 (Three Million, Six Hundred Thousand Naira) from Sotinrin Jide Abiodun. On 22 October 2019, there was an inflow of N500,000 (Five Hundred Thousand Naira) from Sotirin Jide Abiodun. Also on 13th November 2019 was an inflow of N1, 121,000 (One Million One Hundred and Twenty-one Thousand Naira) in favour of Agunloye Olu from Jide Sotirin.”

“The case was adjourned till October 21, 2024 for cross-examination.

“Agunloye is being prosecuted by the Economic and Financial Crimes Commission, EFCC on seven-count charges, bordering on official corruption and fraudulent award of the Mambilla Power Project contract to the tune of $6billion (Six Billion US Dollars) to Sunrise Power and Transmission Ltd.”