By Abiola Olawale
Adewale Agunbiade, a former staff of the Guaranty Trust Bank (GTB), has explained how former Minister of Power and Steel Olu Agunloye, allegedly received N5.2 million from Jide Sotirin, a staff of Sunrise Power and Transmission Ltd.
Agunbiade made this claim after the Economic and Financial Crimes Commission (EFCC) brought him forward as a witness before the Federal High Court sitting in Abuja on Tuesday.
It would be recalled that Agunloye, who served as Minister of Power and Steel from 1999 to 2003, is facing trial over alleged connection with what has been described as a fraudulent $6 billion Mambilla hydropower contract he allegedly awarded to Sunrise Power and Transmission Ltd. in 2003 without approval from the approving authorities.
Agunbiade, the prosecuting witness, told the court that Agunloye allegedly received N5.2million from Jide Sotirin Abiodun, a staff of Sunrise Power and Transmission Ltd, in multiple transfers and Automated Teller Machine, ATM, and withdrawals.
Agunbiade narrated how Agunloye got the money first in N30,000 transactions in five places, then an N3.6 million credit, another N1.121 million credit and then N500,000.
He said: “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.
“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 Agunloye.
“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, there was an inflow of N1, 121,000 (One Million One Hundred and Twenty-one Thousand Naira) in favour of Agunloye Olu from Jide Sotirin.”
Meanwhile, the case was adjourned till October 21, 2024 for cross-examination.
The New Diplomat reports that the Mambilla hydropower contract has been the subject of serious controversies.
The contract was said to have been allegedly awarded in 2003 to Sunrise Power and Transmission Limited during the Olusegun Obasanjo-led administration by Agunloye without authorization.
Indeed, Obasanjo had accused Agunloye of fraudulently awarding the contract for the project without the approval of the Federal Executive Council (FEC). Agunloye later denied the former president’s claim.
