In the ongoing trial of former Minister of Power and Steel, Olu Agunloye, for alleged fraud in the $6 billion Mambilla Power Project, a prosecution witness has revealed details of suspicious financial transactions involving the former minister.
In a press release issued by the Economic and Financial Crimes Commission (EFCC), Dele Oyewale, Head of Media and Publicity, confirmed that Adewale Agunbiade, a Compliance Officer with Jaiz Bank Plc and formerly with Guaranty Trust Bank (GTB), testified before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja, on Monday.
Agunbiade narrated how N5.2 million was allegedly transferred from Jide Sotirin Abiodun, an employee of Sunrise Power and Transmission Ltd, to Agunloye over several transactions.
Agunbiade, led in evidence by the prosecution counsel, Rotimi Oyedepo, SAN, disclosed that GTB had received an investigative inquiry from the EFCC in October 2022 regarding the bank accounts of Agunloye and Sotirin.
“I generated the statement of account via the system and prepared the Certificate of Identification, following my review of the statement against the records of the bank,” Agunbiade told the court.
While reviewing the transactions, Agunbiade stated, “On the 10th of September 2019, there were six transactions in Mr. Sotirin’s account, five of which were ATM withdrawals of N30,000 each. The last transaction on August 10, 2019, was a transfer of N3.6 million from Jide Sotirin Abiodun to Olu Agunloye.”
He further outlined other payments from Sotirin to Agunloye, noting, “On October 22, 2019, a transfer of N500,000 was recorded, and on November 13, 2019, N1.121 million was transferred in favor of Agunloye from Sotirin.”
These revelations are part of the EFCC’s case against Agunloye, who is facing seven charges relating to official corruption and the fraudulent award of the Mambilla Power Project contract to Sunrise Power and Transmission Ltd.
The case was adjourned to October 21, 2024, for cross-examination of the witness.
