An Abuja court on Monday heard from prosecution witness Umar Babangida that former Power Minister Dr Olu Agunloye acted within the limits of former President Olusegun Obasanjo’s financial directives in recommending Sunrise Power and Transmission Company Limited (SPTCL) for the Mambilla Hydroelectric Power Project.
Babangida, an Assistant Commissioner of Police and the third prosecution witness, said Obasanjo had instructed that no minister approve contracts above N25 million without written consent, a guideline Agunloye followed.
Agunloye is facing EFCC charges of conspiracy, forgery, disobeying presidential directives, and receiving gratification linked to an alleged $6 billion fraud. He has pleaded not guilty.
During cross-examination by Agunloye’s lawyer, Adeola Adedipe SAN, Babangida confirmed that both SPTCL and Tafag Nigeria Limited were to have identical terms, with government participation capped at 25 per cent. He also noted that Agunloye’s memorandum on the project received support from other Federal Executive Council members and that N6 billion was allocated in the 2003 budget.
Justice Jude Onwuegbuzie adjourned further cross-examination of the witness to Wednesday.
